PNW Seattle - Deal check for Hyundai Ioniq 5 limited (AWD)

Ask the Hackrs
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1

Can I please get your overview on this deal (calculator).
At first glance MF is higher than normal 0.000430 vs 0.00025/0.0003 .

Thanks.

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2

That’s just the advertised price on the dealer’s web site :warning: and you’re already at $561 a month. Why does this show $0 for taxes and fees?***

What is the breakdown for the $3,000 (dealer discount vs incentives)?

Separately and from a value perspective, what do you get in a $52,000-MSRP IONIQ 5 that makes it worth that much more than a $37,000 IONIQ 5?

Or did you pick this trim because it has the best program (I’m not familiar with this car or which trim leases best).

*** Note this disclaimer about the finance payment. I’m guessing taxes and fees are additional on the offer you’re holding.

*Estimated monthly payment based on advertised price of $37,670 at 0% APR for 72 months at $13.89/month, per $1,000 financed, $3,767 down for qualified buyers, $33,120 total of all payments. Includes $200 Documentation Fee. Excludes tax, title, registration, and license fees. Excludes leases and balloon contracts. Available at participating dealers and is subject to credit approval by Hyundai Motor Finance. Offer may expire at any time without notification. See dealer for details. Rate applies to vehicle shown. Not everyone will qualify. Available through 02/02/2026.

3

Thanks for the reply.

I might have misused the calculator for the taxes and fees that should be around $1450 ($235.50 of state taxes, ~$1000 license fee and $200 of doc fees), updated the calculator link with that information.

Regarding your other questions:

  • The $3000 is coming from Hyundai Motor Finance (‘HMF’) Dealer Choice Bonus Cash (so no dealer discount)
  • The 2026 Ioniq 5 is very different from the previous years and has several changes (NACS + Battery + others) that make it a better choice for the “next 2 years” ; I shouldn’t also have the ICCU problem that the previous models had; In terms of Trims, the lower spec trims don’t have some of the feature my wife wants (Wife Tax)

From my reading of your post, there are some gaps in this offer:

  • Lack of Dealer discount
  • MF can be improved

Thanks again for your overview and let me know if you have any other suggestions in terms of targets for the above and/or any other.

Regards,

Pedro

4

This definitely isn’t a car that’s selling for sticker, so yes definitely spend some time studying other deals on this car (it’s frequently discussed) to see what’s achievable on that.

The MF isn’t negotiable per se, although if it’s marked up (does Hyundai allow this? I don’t know) you just need a larger dealer discount to offset that.

I would also assume the acquisition fee isn’t included in the dealer’s sheet either, so with taxes and registration that deal may be $5k DAS (or more) plus they’re selling the car to you at sticker.

So the deal you were presented looks really rough.

I’d set it aside and start fresh with a new dealer after you’ve figured out what the car is actually worth, and are ready to make an offer to another dealer.

I didn’t try to reverse engineer your calculator against the dealer sheet since what the dealer has presented is incomplete and the offer itself would be DOA if I was shopping for this particular car.

(Also spend some time to see which trims of this car are leasing best. Sometimes one trim level is a WAY better value, and it often isn’t the lowest trim).

5

Thanks for your follow-up. Will follow your suggestion.

6

Hey! Did you end up getting a better deal?

7

I live in Washington, and out of all my leases, I’ve only ever gotten one in-state because WA dealers rarely negotiate. You might have some luck outside of King County, but I wouldn’t even bother talking to dealers there; they’re spoiled by people throwing money at them without asking questions.

I’ve leased from Idaho, Oregon, California, Oklahoma, and Texas. Dealers in those states are much more willing to negotiate and compete. Buying out of state is super simple; the only challenge is getting the car back. Usually, I buy a one-way ticket and drive the car back to WA. It’s never been a problem—they give me a temporary plate, and the WA registration usually arrives in the mail two or three weeks later.

Please do not feed this greed King County dealers.

8

Can you share some of the folks you have worked with?

9

Use the calculator to find the model/trim with best numbers.

Go to the cargurus or the Hyunday we site(never bought hunday, not sure if they show far away inventory).

Select national wide or far away you are willing to go. Order by lower price, compare MSRP with the sales price. Get the dealer website, confirm if the car still on their website inventory. Look for loaners they have bigger discounts.

Send an email to the dealer asking for best possible discount under msrps, before incentives. Be sure you know a reasonable market discount price for the model/trim.

Do that for the most competitive dealers, negotiate run the numbers for the lease including your incentives.

2 Likes
10

Was able to get an OK deal (based on the forum’s standards and based on my “constraints” - read wife requirements - on trim and interior) but much better than other dealerships in the Region with ‘Lee Johnson of Everett’ (if you need a contact please let me know). They were open to negotiate and offered much higher incentives than other dealerships.

I would recommend doing some homework on incentives available for the month(including MF and lease cash), either by becoming a supporter in this forum or going to Edmunds and requesting the information there in the forum.

All in all, I’m fairly certain that there are much better deals out there, especially in the lower trims, but constraints …

11

how is the pricing comparing to the broker in CA ($300/mo + 3000 + 500 broker fee)? I’m also looking for Limited trim and open to drive it from LA to Seattle, but wondering what I could get from Lee Johnson.

12

The deals in California are much cheaper even factoring $1450 of WA registration, a flight to CA (~$400) and driving it up ($300 of “gas”) as long as time is free :slight_smile:

I was able to get 0 DAS but my monthly is closer to $700 (again based on “constraints”). For WA, your negotiation options are:

AWD

  • 24 months : .00194 MF and 71% residual. $4750 lease cash
  • 36: .00007 MF and 62% residual; $1000 lease cash

RWD

  • .00204 MF and 71% residual. $5000
  • .00229 MF and 60% residual. $7500

They should be able to match $8000+ between Rebates and Savings in the AWD version.

2 Likes
13

kk thanks for sharing!

I talked with Hyundai Kirkland and got about $500/mo with $1500 down last year for a $58000 Limited, and $540/mo with $0 down Lyriq 2 Luxury (with Costco and GM family friends) in Bellevue, but didn’t go with either.

My current lease is from CA (I registered in WA from the 2nd year to make full use of the CA registration). Most likely 2nd lease will also be from CA. Seattle is so hard to get anything decent :smiling_face_with_tear: I drive less than 7500 a year and just want to drive different cars. A flight to LA works for me but maybe not for us to handle all the hassle.

14

How did you register a car in CA if you reside in WA?

15

I take the lease from CA with registration. Drive to WA, let it expire in 12 months, register in WA in 2nd year.

[s]Yes I know, I know this law and that law and insurance and other concerns, but YMMV, IYKYK. [/s]