IONIQ5 Lease numbers

Ask the Hackrs
21

It looks like it’s already baked in.

Your true residual should be 32021.95.

I’m pretty sure that’s what USBank does… did you ever get the RV% and MF from your dealership?

22

I do not know the RV% but I saw that the MF was something like 0.0031

The lease wordings do not say anywhere that they would add the 7500 to the RV if I choose to exercise the purchase option - what @voxel described above makes more sense to me as per my understanding.

23

Thank you for explaining the numbers. Even if this was with HMF - the buyout price would still be around 43K ish (the adjusted capitalized cost) if I am not wrong? Or does a lower residual play to your advantage when doing a buyout? I thought even with a lower residual you still pay RV+depreciation that would add up to the adjusted capitalized cost

24

This is what matters at the end. My suggestion is to enjoy the ride and be happy that you are not going to shell out more than $10K in 2yrs even if you had a money to purchase it outright.
In 2yrs, I would be damned if you can make any money out from this lease at all with those high RV values already baked in and so stop thinking about paying ahead. Invest in an index fund or dividend yield stocks and have fun driving with the hope that your Hyundai’s doesn’t get stolen…

Congratulation on the good deal btw ! I assume this is one of those deals CA broker posted here that leads to low monthly payments due to inflated RV values by using USBank.

1 Like
25

80% rv means lease, do not buy

Usbank will try to hinder you buying anyhow, so i wouldnt bother

1 Like
26

Anyone know of any dealers on the east coast that use US bank? Looking to get a limited AWD and all dealers ive checked showing an $800 payment. I wouldn’t mind us bank for a cheap lease for a couple years.

27

I am about to post these at $4k off MSRP!

7 Likes
28

Why is that?

29

How would a 24/10 one pay lease work for both regular and longer range?

30

You might be able to find a worse bank to deal with if you really, really try

1 Like
31

US Bank doesn’t have a OnePay AFAIK

32

I don’t need to go through us bank.

There was an article claiming some hyundai one pay leases were phenomenal.

33

Some Are,
There are brokers who will offer you a good lease. THIS THREAD is about a good deal with US Bank, which doesn’t offer OnePay.

Is this better than a OnePay with HMF? I have no idea, you have to post on those threads to get the answer.

34

Thank you everyone for chipping in with such valuable comments. I am learning so much from this community. So what I understood is that since USBank keeps such a high residual - you pay less for depreciation each month and hence that keeps your monthly payments low. From here it seems I now have 3 options to choose from :

  1. Do an immediate lease buyout - this would mean I would have got a total discount of 10500 off MSRP (minus lease acquisition fee, buyout fee and tax on the 7500 rebate) - still comes to around ~8800 off MSRP. I will still end up paying a few days rent for the days I used the car until the buyout

  2. Go through with the lease duration - this would mean that I get to drive the Ioniq5 for a total of ~10500 for 2 years which is also a very good deal with no strings attached. I can just turn in the car at end of the lease

  3. Buy the car after 1 year or at end of lease at the listed residual value - This would be a very TERRIBLE option and I would never do this

Options 1 and 2 seem attractive. If I choose option 1, the onus will be on me in a few years to sell the car myself but I will not be bound by any lease related restrictions like mileage limits

35

I would confirm what the early payout is for Option 1. I think they negated the $7500 cap cost reduction by the inflated residual so it may not be $8800 off.

2 Likes
36

Agree with this!

37

I signed a lease contract for an EV and added around 1k worth some dealer add-ons. This got added to the gross Capitalized cost (and hence it also got added to the adjusted capitalized cost)

I have the option to cancel these add-ons within 30 days for full refund for amount paid and I found the same plans at a lower rate elsewhere.

Now since this was added to the adjusted capitalized cost itself (which is used to calculate the base monthly payments, monthly depreciation, rent charge as well las tax) - how does a refund get applied here? Would this require me to re-sign the lease paperwork?

If anyone has any experience with this - any input would be extremely helpful! Thank you!

38

I assume the dealership will just cut you a check for the amount of the add-ons.

39

Be prepared for dealer pushback and a wait…you will get a check at some point…contract/payment will remain the same.

1 Like
40

How can the payment remain the same? The dealer add-ons are included in the adjusted capitalized cost. So lets say my add-ons were 1000$ plus tax. So if the dealer just refunds me via a check for 1000+tax, I am still being charged interest on this since this is rolled into my monthly payments - am I correct?