New member here, but have been a lurker for a while, so hello everyone!
I have a 2024 Ioniq 5 SEL, and am interested in potentially trading it in towards a 2025 Ioniq 5 N. Below are the terms they offered me. I have just shy of $900 in positive equity on my current car. They also have knocked off $3k from the sticker price, and of course have the $7,500 credit built into this deal as well. Still seems a little rich, considering they still want at lease $2k down, and I think a better residual target would be anything 60% or higher. Also, as currently presented, the payment fails the ballpark 1% rule.
For comparison, we recently leased an EV9 Land for my wife, with $0, and our payment is $639 per month, 12k, 24 months, which was the best deal I was able to get on that car after shopping it around all over the country.
I know the N is a niche car, but seems like Hyundai isn’t quite ready to give these away yet…even though this one in particular has been sitting on the lot for months.
I am self employed, and can write off 100% of the lease payments…and I’m a track guy, who races cars too. This deal doesn’t get me excited though, as I currently pay $269 per month on my SEL. My previous car was a 2024 Integra Type S before the Ioniq 5, so I’m kind of their target niche buyer. But I agree, this deal doesn’t move the needle much.
We have a race car that we use for endurance races. This would be a daily and maybe see the track once or twice a year for fun. I have 2 kids and a dog…so the space and practicality is a must have.
Because it would be a fast and fun daily…and I have home charging, and operating costs are 3 cents per mile with this…lots of compelling reasons. I’m not jumping on this deal though, but was more curious about feedback from out in the wild since there aren’t many to compare it to.
I won’t be pursuing this deal…just wanted to share it. I already have an ioniq 5 SEL that I lease for $269 per month, 12k miles…not enough incentive to justify the premium for the N, even though it’s a fun car.
5N is definitely fun on the track, but so is a Taycan, E-tron GT, Lucid, and EV6. Maybe the ZDX Type S or Polestar 3 is a good compromise between a better deal and still relatively fun on the track once a year.
You obviously don’t know anything about the Ioniq 5 N. Please go watch some YouTube reviews; I recommend Throttle House and The Smoking Tire. The Ioniq 5 N is the only EV worth getting right now if you’re a true enthusiast.
An e-tron GT is ok but also boring. When my wife got her Q4 E-tron I checked out the GT and while it’s really cool looking, it’s a bit of a boring overall driving experience (despite the 0-60 time). The other Ioniq 5 leases are irrelevant; they’re different cars… It’s like comparing a base Mustang V6 to a Dark Horse or GT500.
Regarding tire wear, my wife just replaced the tires on her Q4 at 40k miles. The way I drive I wouldn’t expect an N to get more than 20k on the tires, and I’m ok with that. As I said before, this is the only enthusiast EV out there in my opinion. The next best option would be the new Mach-E Rally edition, and that lease is half the price (including a free home charger install) and still not worth it compared to the Ioniq N.
I’m new here so I don’t know all the ins and outs. But from my (Massachusetts resident) research a 36-month Ioniq N lease is around $4000 down and $900 per month. If you’re bringing $900 in trade-in value means that your drive-off price is $2900, right? So it seems like a slight deal at face value.
