Ioniq 9 Lease (potential lease to buy)

Ask the Hackrs Buy/Finance
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Hi all it seems like most are on a holding pattern to see if there are any end of year incentives for Ioniq9s but also see that there isn’t much supply…

I am working with a dealer on a calligraphy design with the following:

  1. MSRP = $76 ,835
  2. Selling Price = $74 ,000
  3. Lease Cash = $12 ,500
  4. Adjusted Cap Cost ≈ $61 ,500
  5. Residual = $46 ,101 (60 %)
  6. MF = 0.00281 (≈ 6.75 %)
  7. Term = 36 mo / 10 k mi
  8. Fees ≈ $1 ,500

Good deal or should I keep waiting? Intention is to lease to buy

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Post the link to the calculator with everything loaded into it.

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At the end or immediately?

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After 4 months (dealer requirement)

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Once the lease is funded, the dealer has no control over the lease and no say as to when you can exercise your purchase option. The Hyundai contract, assuming they’re the fund provider, controls, not the dealer.

EDIT: If you’re buying out within 30 days or so, I strongly recommend a single pay lease. You may find this helpful…

Single Payment Adjusted Lease Balance Calculations, Optimality, and Purchase Option.pdf (948.7 KB)

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Thanks it looks like I lost at least $5k in rebates due to the federal tax credit expiration. Anything else I’m missing here?

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Thanks it looks like I lost at least $5k in rebates due to the federal tax credit expiration. Anything else I’m missing here?

Hyundai also lowered the residual and increased the money factor for October. Those account for another ~$3k (CA).

At the end of September inventory was tight and dealers I was talking to were asking (and getting) over MSRP from buyers worried about the credit expiring.

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How do you feel about this next month? Should I keep waiting? I was able to get a little discount under MSRP

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Personally waiting until next month under the assumption that offers will be no worse than they are now…

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Keep waiting. You are not getting enough discount in this deal and the MF is not good. I think it can only improve.

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MF is completely irrelevant here, except to allow a max markup in exchange for a higher discount.

Discount is on the high end of what I’ve seen for a Calligraphy. What happens in the future is anyone’s guess.

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Is it irrelevant if the intent is lease to buy?

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Yes, the intent is to buy it as soon as allowed by the bank. The MF is irrelevant as the “lessee” doesn’t need to pay more than a month of rent charge.

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Make sure you’ve chosen the term with the highest lease cash.

For traditional leases the MF and RV matter too. For you, only the lease cash and dealer discount matter.

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EVs: Hyundai Ioniq 9 Calligraphy (Michigan). Any chance of approaching this post-September?
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Based on the ‘deals’ posted on HyundaiUSA, it looks like November incentives are unchanged from October…. however looking in Rate Findr I see some small tweaks. The residual value appears to be down a couple of points, but the money factor is also lower - keeping monthly payments about the same as October. Slowly lowering the residual makes me suspect that the 2027 model may have a lower MSRP, like they dd for Ioniq 5. Also, the Ioniq 9 is significantly cheaper in Canada.

October sales were very slow - 317 Ioniq 9 vs 1,075 in September (USA). Dealers might be more willing to discount further. I got a call near the end of the month from a dealer who wanted $4k over MSRP in September, and now ready to go below. Ultimately no deal. November/December could be good for lease to buyout early.

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This is great insight. Appreciate you sharing!

here is to hoping dealers will be more motivated by the end of the month

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Question: do you plan to do an immediate buy out?

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I keep going back and forth but currently my thought is yes.