I was waiting on Cadillac Lyriq to replace BMW i3 as my daily. (returned 21 i3 Rex back in March) The car has been produced but no release date in sight.
I was checking September deals and I came across great deal on 23 Ioniq 5 SEL.
MSRP: $52,820. Lucid Blue
Discounts:
$7,500 EV lease rebate
$1,500 dealer discount on MSRP
$1,000 Hyundai bonus cash (for discretionary dealership use, was in the form of 4x $250 coupons)
$2,500 Valued Hyundai Owner coupon (I also have 2020 Hyundai Santa Fe)
$4,250 CT CHEAPR PLUS rebate (Since I live in downtown New Haven, CT which designated as " Environmental Justice (EJ) Community, I was approved for additional $2,000 on the top of $2,250 CT rebate. Also, this rebate was supposed to be eligible for the cars below $50,000 Base MSRP without destination & options. but Ioniq 5 SEL include AWD are approved back in 2022 and 23MY has been grandfathered in. - CHEAPR - New Eligible Vehicles)
Term: 24 months, 12000 miles per year Adjusted Capitalized Cost: $36,070 Residual value: $38,558.6 (73%) MF: 0.00449
**Payment: $246.08 include 7.75% CT luxury vehicle sales tax (over $50,000 total sale price vehicle triggers 7.75% sales tax instead of 6.35%)
** Dealer Fees : CT dealers are notorious about this, the dealer charged $795 for the document processing fee which is in average in CT.
I could have gotten bigger discount from other state dealers but in order to receive CT CHEAPR PLUS rebate, I have to purchase the car from CT dealer. I requested new CHEAPR PLUS rebate via website back in June and it took 20 days for CT to approved it. Once I got the approval, they reserve the fund for a year from approval date. I can claim this rebate every two years and 2 times max per lifetime.
That’s great, the residual is higher than cap. I wonder what one pay would look like. Some nice state incentives. California is out of EV free money.
I contacted all CT Hyundai dealers and this one was most eargely (aggressive) to make a deal. Again, I know I could have gotten bigger discount from other state dealer but I couldn’t get $4,250 CT state rebate in that case.
Great deal Flyerno1 … Question, you titled the post > [Signed! 2023 Hyundai Ioniq 5 SEL AWD MSRP $52,820 24/12 $246/mo, $3,000 … May I ask what the $3000 was for ? down payment ? What was the breakdown of this $3000 ? TYVM
TYVM for the reply … BTW, i live in CT and I contacted the dealership listed in your post. They are claiming they cannot even come close to that deal and that its not real, they didn’t do it and its fake and Leasehakr is a scam … LOL … I feel confident you got this deal and have no reason to post this incorrectly … May I ask the name of the salesperson you dealt with ? TYVM, Evan …
Are you inquiring about the SEL AWD? Do you currently own or lease a Hyundai? The OPs deal is only $1500 off msrp. The $1000 dealer cash is entirely at the discretion of the dealer. Not everyone gets that. If you’re inquiring about a RWD Limited and you don’t currently own or lease a Hyundai, you won’t get close to the ops deal
I am inquiring with the SAME dealership ( an other local ones in CT ) using the EXACT info, like kind vehicle ( see specs below ) looking for a like kind deal ( Note, the only thing that does not apply is the Hyundai lease loyalty. Would that one discount dramatically effect the monthly lease amount ? )
What am i missing here ? TYVM
$1,000 Hyundai bonus cash (for discretionary dealership use, was in the form of 4x $250 coupons)
$2,500 Valued Hyundai Owner coupon (I also have 2020 Hyundai Santa Fe)
$4,250 CT CHEAPR PLUS rebate (Since I live in downtown New Haven, CT which designated as " Environmental Justice (EJ) Community, I was approved for additional $2,000 on the top of $2,250 CT rebate. Also, this rebate was supposed to be eligible for the cars below $50,000 Base MSRP without destination & options. but Ioniq 5 SEL include AWD are approved back in 2022 and 23MY has been grandfathered in.
Are you also eligible for CT CHEAPR+? Anyway, I also helped two of my friends to pick up same Ioniq 5 SEL from different dealer in CT. Their deal was about the same as what I got. (One from Torri***** and one from Hart****) the dealership I got mine from was really not helping me to get the deal for my friends.
On a 24 month lease, $2500 is roughly $100/mo. They $1000 bonus cash is also discretionary.
Start by asking the dealer for $2500 off msrp, $7500 EV lease rebate, the two CT incentives, no mark up on MF, and no add-ons. I’m not familiar with the CT incentives, whether they are point-of-sale or a tax credit. You’ll need to find out how that’s applied.
It’s very possible that the dealer didn’t even know about the two CT incentives until the OP brought it to their attention. The dealer could now be using those incentives to sell or lease the Ioniqs for MSRP to anyone that walks into the dealership. If that’s the case, you’re out of luck.
This one is for my friend’s deal from another dealer in CT. He picked up the car few days ago. He also had beater Hyundai in his household. The dealership applied $2,250 CT standard CHEAPR rebate as well.
Total $3,000 out of pocket (incl first month, fees, taxes) $349/mo for 24 mo 12k miles per year. (This quote sheet shows 10K but him ended up getting it for 12k miles per year)
This is also from another friend who picked up the day before yesterday. The other friend sold his beater Hyundai for $200 so he paid another $290 for tax, license plate and title to put it under his name so he can get $2,500 for owner loyalty,
This dealer also applied $2,250 CT CHEAPR rebate at the point of sale. So it’s basically same deal as the other friend.
