Looking at leasing an Ioniq 5 SEL. First time leasing and don’t fully understand it completely. What should I be asking for or negotiating? Here is what the dealership has offered:
24months 12kmiles/yr
Msrp $53790.00
Dealer discount $1250
Cap cost rebate $10,000
Residual 70%
Money factor .00244
Residual Buyout at the end $37,653
$5000 down + first payment due at signing=$297xx month.
Yeah that’s nowhere near enough.
Besides that should I ask for anything else on the deal?
My instinct based on what is in signed deals section from the Midwest is that that deal isn’t even close. Not just the dealer discount but the $5,000 is huge. Does Indiana offer separate state EV credits? I don’t think so. If not, these are probably selling terribly there. Ask for the moon in a dealer discount with first payment + taxes down.
You could always try the classic “replicate this” deal although it doesn’t often work:
Just fyi, in my experience it is never a good idea to discuss leasehackr, the calculator here, etc with the dealer.
Edit: Also, don’t just stick to one dealership. Shop around.
That was the deal I was trying to replicate! I just don’t fully understand all the numbers and didn’t want to just share the doc with the dealership.
Thanks for the tips! Will ask for more in those areas.
I can’t stress enough how important it is to work with multiple dealerships. Some are just not willing to move for whatever reason. Good luck!
For sure! I’ve reached out to around 8-10 so far. This was the first to come back with something not to outrageous.
Post a link to an LH calculator here of what deal you want to achieve