I wanted to share a recent lease deal for an Ioniq 5 Limited RWD (2024).
Color: Abyss Black with Gray interior
Term: 24/ 12k
MSRP: $55,155
Dealer Discount: $2,750
One-pay: $8487
Rebates: $16000
HMF lease cash - $14500
Aged Inventory - $1000
Personal coupon - $500
Disposition fee - $400 (not included in one-pay amount)
Effective monthly TCO (including disposal): $370 a month
SIGNED! link: Here
Calculator Link: Here
Experience with dealership - Terrible. I would recommend going through one of the many brokers in this forum and saving the hassle of dealing with a dealership on prices. The experience with most dealerships is like pulling teeth, but this one was among the worst. Problems with this dealership:
- They weren’t transparent on anything. Did not share what one-pay vs. month on month zero-drive off would look like. When asked, the dealer was just plain rude and was clenching his teeth in frustration repeatedly saying “do you want to sign the deal or not” . As in take it or leave it. I had only asked 1-2 questions!
- My quote showed 1 mile as mileage for the specific VIN. Right before purchase, papers showed 65 miles. The dealer was like “no one is tampering with the ODO”. Not a big deal, but they weren’t transparent
- They wouldn’t give me enough time to inspect the vehicle. There were a few damages that I had to flag post-purchase. These are damages they would have known, but weren’t forthcoming in noting these
- They wouldn’t answer any questions on residuals or early buy-out penalties properly. I got to know some of this only when I was with the Finance guy
- Their operating model was to confuse and unsettle the customer with various back and forth between the dealer working with you and the sales manager. The threw so many different numbers at me. It pays to be supremely prepared if you are going to the dealership
I chose to not take the dealer behavior personally and separate it from my objective - get what I believed was a pretty good deal.
I spent 4-5 weeks calling NorCal dealerships to understand pricing. Most wouldn’t give pricing, let alone breakdown, over the phone. The Leasehackr forums and calculators were immensely helpful. I also used Edmunds forums to get buy rate money factors (MF) and residual details for my zip code. I also used Hyundai USA website to determine inventory levels across NorCal and CarEdge to see which dealers have inventory greater than 180-200 days. At the time of purchase, Norcal dealers had a total of 328 Limited 2024 trims on their lots and 400+ in transit. The dealers will make it seem as though these cars are flying off the shelves. The truth is they are not. Four dealers gave me numbers over the phone and the next best was $9800 - $13,000. So it was quite a wide spread. Go prepared!
This is my third Hyundai vehicle in the last two years - I also drive a 2023 Genesis GV60 and a 2023 Ioniq 5 SEL RWD. I’ll post a review on this trim soon.