In Maryland. Back in september I tried searching for Ioniq 5 deals, but the only ones I got were hilariously bad, when compared to some other states. For example, my friend in California got a limited for around 440, but I got thrown quotes of 650 for limited (marginal differences). Even accounting for Maryland’s full excise tax, the quotes were still high!
So I was wondering if with the 26 Ioniq 5’s msrp’s finally dipping under $50k and thereby pretty much eliminating MD tax portion, if anyone has managed to find any deals around.
I looked at deal sheets for brokers in the northeast and none of them even seem to list Ioniq 5’s anymore!
As you well know, being here in MD, we’ll never be playing the same game as the rest of the states because of the tax situation. We have to either accept that or not lease.
Now that the tax credits are gone for EVs, the price drop you see now won’t change much vs September. If anything, I would bet your quotes are going to be equal to or worse than they were then.
Maryland still does EV tax rebate for msrp under $50k, so I figured that would make it neutral at least compared to some of the other states with incentives? But at least better than other states who only tax payment?
Ah, looks like Maryland has pulled the funding for EV tax credit lol
Please be advised, funding for FY26 is no longer available for the one-time excise tax credit for a qualifying plug-in electric or fuel electric vehicle.
For md excise tax the msrp needs to be under 50k. I got sel rwd 2 yrs ago and got a check from the state after a long wait. Make sure to print the form when you buy the car and you need the dealers signature.
You should submit the form right after you leased the car as you need to wait. Got my ioniq5 for $360ish 2years ago but it is impossible to get the same price for now. It’s better to buy a heavily discounted ex30 and sell it after three years.
My strategy is that i make a good connection with a dealer in the area and ask him the realistic questions and get to the numbers right away. This way you can save the tax a bit as md does tax credit for trade in cars. But it also depends on how much equity you have on the current car. Happy to chat more and share whatever i have. I am in the market too.
The md excise tax rebate has been paused as I noted, not accepting applications, i guess thanks to the budget deficit.
Thankfully, I’m not in the need to purchase a vehicle and was just looking at this opportunistically, so I suppose I’ll go back into hibernation until something changes…
