Offered a 2025 Ioniq 5 lease with buyout on my 2023 Ioniq 5 lease, seems too good to be true?

Ask the Hackrs
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1

Currenly in a lease with 2023 Ioniq 5 SEL trim, four months remaining on my lease. Payment is $252 per month.

Reached out to my local dealer today inquiring on the current deals since the EV credit seems to be going away at the end of september. They offered to buyout my remaining payments and get me in either a 2025 SEL for $282 per month at 24m/12k, or the new XRT at $302 per month, 24m/12k.

As it stands, I owe $1000 with the four payments left, my electrify america free program is ending soon, and with a new lease hyundai offers an in home charger install credit. One pay is offered, and no money down at all. This seems like a no brainer deal for me and I’m trying to see the cons.

2

The charging offer expired at the end of July.

Have you looked at other deals in Marketplace or Signed to see how this price compares?

4

I have not looked at any other specific offers yet. Had to visit the dealership today for a different reason and I brought up end of lease options of my current i5 SEL. That’s when they offered to buyout my last four months and a new 2025 with a similar price with no money down.

The GM did say the charger offer is still ongoing, though as you said the Hyundai website did say it ended already. Could he be wrong in the Hyundai site incorrect?

I’m open to different vehicles for my next lease. No issues with my i5 and definitely would lease it again for a similar price now too.

5

Was this a sign and drive or did you pay upfronts?

6

I think it’s a solid deal for 2025 IQ5 SEL AWD, if the effective monthly payment is $282 and there are no gotchas.

7

I did put $2000 down early on for my current lease. The payment was around $3xx and it went to $250.

8

As far as I know, yes. I’m considering the xrt though since I have an sel now. I’d like the new tech toys and I do like the appearance. The 30 mi range penalty does suck though.

9

So you have $1000 in remaining payments but an early out is also costing you $333 in prepaid utility

10

Thank you. I wasn’t sure how to calculate how much I was ‘underwater’ if I took this offer. I’ll use that info to negotiate better payments.

The GM said to me they make money on quantity not on the gross profit from the sale, so they can be cutthroat with margins.

11

More details and info!

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12

My local dealer is ‘sweetening the pot’ if you will. I am more interested in the new XRT they just got on the lot though they’re sitting on two SELs and concerned they’ll rot after the credits end this month. As a note I’m not in a EV dense region.

They’re offer now is to buy out my current 2023 SEL lease with $1000 in payments left (four months), keep my monthly payment identical on the new 2025 SEL, zero down, and first month included. Besides liking the limited trim best, which they don’t have, I can’t see a reason to say no to this!

13

Counting the $1k in lease payments as an additional discount, you’re at 8% off plus the rebate. That would be a great deal.

But I’d suggest putting everything into the calculator here to make sure there’s nothing else hidden in there.