So are you getting the state tax credit up front?
I haven’t seen you mention whether it’s up front or post sale
It is upfront… you just need to sign a doc transferring state rebate to dealership.
Was there yesterday. They were not able to confirm if they do 4k off MSRP which I found odd. I was also inquiring about the money factor for one pay lease and they promised to send me numbers over email (still haven’t received anything).
Surprisingly that biggest challenge was them wanting me to test drive the car which I declined. The sales assistant even invited the manager to explain me that it’s their policy - I NEED to test drive the car before they can talk numbers. I had no time for that so they proposed to schedule a test drive when I do have time. I respectfully declined as I have done it several times and see no reason to do it again. Not sure if they were satisfied and if I going to see the numbers, but that was my experience.
Will keep you posted.
Very interesting. I would have just taken the car out for a spin in their parking lot. Then, thanked them for their time and gone home.
If they can’t provide you with numbers without a test drive, just move on.
Discount doesn’t mean a whole lot by itself. What’s the MF? What’s the doc fee and other line items? Many ways a payment can be higher than what one assumed from just seeing the discount.
I emailed and received numbers back. $10k incentive plus $2k discount. Would qualify for another $3500 state tax credit so not terrible numbers but nothing like what OP said with $4k off AND $17k in incentives. I’m pretty sure the $4k off is part of the incentives and not separate from the “up to $17k off” which is not bad. I suspect it’s really $13500 in lease incentives and state tax credit and then $2k-4k discount for a total of up “up to $17k off”
Just to clarify, the incentives that everyone should qualify for are $10k from Hyundai + $3500 from MA. The only other incentives I could see were $400 for college grad and $500 for military.
OP was just sharing a dealer marketing email. We all know how “accurate” those are (I am being sarcastic).
Anyway, there are a couple of SELs with a $3k dealer discount. Like this one.
EDIT: Total potential savings is $10k + $3500 + $3k (dealer discount) + $400 (college) + $500 (military) = $17,400
@Bluemkn57cars Thank you.
Yes. I was just sharing the email from dealer so that someone can contact, haggle and get a good deal. May be discounts based on MSRP of car… Limited /Disney models might get 4K off… not sure though.
I am yet to see any Ioniq 5 advertised with that dealer discount on their website. The highest I have seen publicly advertised is what I posted earlier.
That should always be one’s approach. I hope folks in MA looking to snag an Ioniq 5 this month would use your post and deal as a reference. Most dealers like to haggle. I am not a big fan of that approach, but that’s the sales tactic. They go high and we hackers go low. 
That’s fine but his calculator showed $4k discount PLUS $17k in incentives. Barely getting the $17k. Let alone an additional $4k.
In case you missed all the other comments in this post, here you go.
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I didn’t miss it. Just pointing out that he has $4k discount and $17k incentives on his calculator and also wrong MF as it seems he has 0.00286 listed which is the 24 month MF.
In case you missed it, I’m pointing out that the data is wrong. 
@Sinestro any idea what is the MF for 36 months? Will try to make changes to it and see if i can arrive at my numbers.
Also thank you for pointing it out.
You have it listed correctly on the first post but not the calculator.
0.00179
59% residual for 10k and 58% for 12k.
FWIW, here are the right Calculator inputs for this deal:
As someone else already pointed out, MF=0.00179 for 36 month lease, with 59% residual for 10k mi/yr and 58% for 12k mi/yr.
Some tweaks to get the calculator to work:
- Set the downpayment to amount to be paid in cash at signing ($1725.89) less itemized costs (sales/use tax on capitalized cost reduction + first monthly payment + initial license, title & reg fees).
- Move Net Trade-in Allowance ($839) to the Untaxed Incentives ($13500 + $839) rather than have it separately in “Trade-In Equity Applied”. This is because LeaseHackr Calculator treats “Trade-In Equity Applied” as taxed capitalized cost reduction while the lease paperwork shows it is not.
- Wear & Tear added to Dealer Fees ($495 + $539) and this amount is capitalized as per the lease paperwork.
Bottom line:
- True incentives: $13500 ($10k from Hyundai lease promo + $3500 EV tax credit from MA state)
- Dealer discount: $3767.48 (7.13% off MSRP!!)
LeaseHackr score = 15.8. Great deal overall, partly juiced by the handsome $3500 EV tax credit.
HTH.
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@gopalapagos Thank you for this… 
Just FYI to anyone who is looking into this thread. (Only MA residents)
Same dealer has agreed for $299/month for 36 months 10K miles per year lease of 2024 Hyundai Ioniq 5 SEL AWD trim with just first month payment due at signing.
From Dealer -
“There is nothing due at signing. With all the incentives and rebates this vehicle has we are able to keep it at the payment for nothing down. However, this deal does end come July 1st.”
If need more details, please DM me before visiting the dealership.
SM
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I can get this deal on a RWD SEL one pay lease in California ($7k total for 24 months.) Scorching deal for a $49k car. California taxes the incentive so I’m paying a 20% effective tax rate plus ~$700 annual registration fee. I test drove one but decided I wanted the extra options of the Limited RWD at $10k total for one pay. Negotiating on that now.