Signed! 2024 Hyundai Ioniq 5 SEL AWD, $2,292 down, $291.43 monthly, 36/10, Massachusetts

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2024 Hyundai Ioniq 5 SEL AWD. Signed it end of April in Massachusetts. How did I do? Insurance is pretty expensive, was quoted $2,400 through an agent, but got insurance through Costco for $1,300 annually. Can’t wait to pick it up.

MSRP: $52,850
Selling Price: $50,798
Monthly Payment: $291.43
Drive-Off Amount: $2,292
Effective Monthly: $347
Months: 36
Annual Mileage: 10,000
MF : .00179
Residual: 59%
Incentives: $13,500
State: Massachusetts
Region: NE
Leasehackr Score: 13.5 Years

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lease.pdf (1.3 MB)

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This sounds like a great deal! May I ask which dealer you got it from?

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Would this awesome deal translate to the Limited trim? With the obvious bump for MSRP.

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Yeah, I’ll message you. Although I do not believe this deal will be reproducible. Dealer said they were losing money on the deal and were willing to make the deal happen to help them meet their quota for April. I quickly learned that end of month is a great time to shop for a car since the dealer seems more likely to negotiate.

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Thanks! It wouldn’t sadly. The Limited wouldn’t qualify for the state $3,500 rebate since it’s above $55,000 MSRP.

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could you send over the dealer information? thanks.

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They only gave you a 5% discount.
How are they losing money when barely giving a discount?
Was this at Mirak?

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Unsure to be honest. I know I called a few dealerships asking if they could match the deal I signed and they agreed that it was a money losing deal for the dealership. Somewhere around $1,000-1,500 loss

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You know dealerships lose money all the time on the new cars, right? They have holdbacks and some other cash to make up for it.

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Yup the old “we’re losing money on this deal” guilt trip.

They also lose money carrying stale inventory on their floor plan loan or when they miss their sales bonuses, or salespeople don’t sell enough cars to pay the rent and leave.

Good deal, but some brokers here have been offering deeper discounts on these for sure from dealers happy to take the business.

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Interesting. I’ve heard that but this was my first experience shopping for a car. I know dealerships usually lose money selling cars but make money in service

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Do you have any links for a deal like that? I feel like I haven’t seen any posted for the north east but maybe I missed them.

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I don’t think they do MA but as a point of reference

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They ain’t lying, lol

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@harrydogyo - They don’t do MA, unfortunately.

@anoni5 - I got about a 4% off discount + same rebates when I shopped for the same car back in March. Most MA and NH dealers I contacted were either at MSRP or only offered a $1k discount off MSRP.

I went with 36/12k miles and my monthly was $380 (inclusive of taxes and fees) with only first month’s payment due at signing. I could have gone with a RWD trim and saved $50/month. However, I am glad I went with the dual motor AWD. If you put that thing in sport mode, you will feel that torque when you step on the gas.

EDIT: My car’s MSRP was $53.9k. It came with a tow hitch.

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Hi All from MA,

Signed 2024 Hyundai Ioniq 5 SEL AWD for $1750 drive off and $250/month on 30th April.
Exterior : Teal
Interior : Grey and white
10K miles per year
Got about $17500 in rebates.

I have also applied for MOR-EV rebate yesterday. Hopefully I will get it and make this deal much sweeter.

Wish i got the same deal on 2023 model… Since 2024 lost many good features :frowning:

Let me know if anyone needs any info.
SM

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That’s a great deal! How’d you get $17,500 in rebates?

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Feel free to create your own post and share details of your deal.

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I got the same $13500 as you… but they also provided 4K off from inventory stocks.
So got $17500 in total.

@anoni5 Did you apple for MOR-EV or was that included with your rebate?

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I did one in SIGNED… but couldn’t figure out the post

Links shows $225 monthly… but this is after reducing $900 for my trade in. So before trade in it was $250.