Had my heart set on an iD.4 for my wife and nearly pulled the trigger on a Pro S Plus, but the dealer didn’t want to deal. I had been interested in the Ioniq 5 for myself but hadn’t actually driven one. After the VW dealer let me down I popped next door to Hyundai, test drove the Ioniq 5, and fell in love.
I was chasing a Limited trim, but was having trouble even finding one for around $500/mo…Then came across an amazing deal on a black AWD SEL that I just couldn’t pass up:
Basically $52,600 MSRP, $37k cap cost after dealer discount and $10k lease cash = $238/mo for 24 months and 12k miles/year. ~$1200 at signing for 1st month payment and I guess fees? There were some numbers that didn’t make sense, it’s possible the MF got bumped because that’s what the signed page is telling me and the only way I could get the Calculator to come close (total cost is over by $5 and the depreciation should only be $298 instead of $303), but can’t really complain about the end result:
Total cost of just over $7k, effective monthly payment of just under $300.
CarGurus pointed me to a dealer in TN willing to deliver to GA for ~$450, the guys at the dealership were super friendly and we handled everything over the phone/email, and it’s a done deal.
Will post pics once it’s delivered–huge shoutout to the LH community for helping me navigate the ins and outs of leasing, and being a great resource for a new lessee!!
Persistence! I kept checking CarGurus for the models I wanted, gradually expanding the search radius. I was willing to travel for a great deal, but luckily found a dealer that delivers. It gets confusing when lease cash is involved because a lot of dealers will list the price as inclusive of the rebate. When I saw one that was ~9k off MSRP I assumed the $7500 credit was already factored in. It wasn’t, and the result ended up being over $15k off total. I didn’t email, I called. Helps to talk to a real person, let them know the situation, and then go to text/email to sort out numbers.
3 tips that really paid off for me:
Research. Know what a good deal looks like–It’s always going to be a combination of incentives and dealer discounts, so knowing what is typical gets you set up for success. Also, understanding the RV/MF situation sets you up for success. The Ioniq 5 24/12 residual of 70% + a $10k incentive made this happen.
Cast a wide net. Don’t limit yourself to local dealers; be willing to make a trip or find a dealer that will deliver.
Be ready to sign once you find what you are looking for. There were actually 2 available at this dealer, and the other one (blue–i preferred the black anyway) was about $15 less a month. I reached out Wednesday night and expressed interest, told him I was 95% committed Thursday morning (had a lead on a Limited that didn’t pan out), got hung up in meetings and missed out on the blue one and almost missed the black one (a guy was actively looking at it when I finally got free and said I wanted it), and immediately uploaded all my info for the credit check, got on the phone with the dealer, and made it happen as soon as I could.
This weekend could be a good one (end of month/quarter), so good luck to those of you still searching!!
EDIT ON 3/29 8P EDT:
REDACTING DEALER INFO SINCE THEY HAVE NONE LEFT!! PM ME IF YOU WANT A LEAD ON ANOTHER DEALER IN THE REGION
//Looks like they only have two Ioniq 5s left and both are RWD SEL and neither is showing ANY discount. Might still be worth asking if you could score a deal, they’ve been really easy to work with.
Amazing. Talked to Bob and he said people have been blowing him up all day and mentioned that someone even agreed to wait til May for a similar offer so I guess that was you!
I’ve got a lead on a 2023 Limited for almost as good. If I could get out of my lease and pay a little more for the Limited then I would, but alas.
I’m about to join the Ioniq 5 club. Getting the same car as you up here in the north east. I will share details once the deal has been signed tomorrow and car picked up.
EDIT: I was initially going to get a RWD model to save a few bucks. But after talking to the wife, she was like get the AWD. She has a '17 FWD Pacifica minivan, and is used to driving in the snow with it.
I had a similar experience. VW dealers near me were not willing to play ball. I quickly moved on to the Ioniq 5.
I am yet to drive one. I will be heading over to my Hyundai dealer tomorrow to finalize a deal. Hoping to test drive one then.
After running numbers on a $60k Limited, my monthly after tax was also more than $500/month. I quickly moved on to the SEL trim.
This could be a one-off deal. As someone who has been shopping for an Ioniq 5 this past month, dealers near me are between 2 and 4+% off MSRP, before rebates. I have seen a few folks get more than 5% off in other regions/states, but a double digit discount on this car is not common.
Sort of. Signed paperwork but finance guy put in the wrong mileage terms. So going to have to redo contract next week.
Nothing spectacular. 3.5% off MSRP at buy rate + $10k lease cash + $3500 MA EV rebate. It was a local dealer so did not have to travel out of state. Most dealers I reached out to were at MSRP or did not discount the car by much.
I was initially going to get a $49k SEL RWD, but ended up going for an SEL AWD. I can’t believe the MSRP was nearly $54k. Nice car, though.
Once I redo the contract and pick up the car next weekend, I will share pictures and details.
Got one thanks to the lead from Gabe. Got 2023 Ioniq 5 SEL AWD for 24 months, 15 k miles (needed more miles). Got it for 750 down which included the first month and 285 per month. It was in the 230s range for 12k miles. Limited RWD had the best deal. Dealer is in Alabama and had at least 4 2023 Ioniqs up until yesterday.
Big shout out to Gabe! It was the smoothest deal I have done
. All good, I was able to get one of the ones in transit.
I’m about to join the Ioniq 5 club. Getting the same car as you up here in the north east. I will share details once the deal has been signed tomorrow and car picked up.