Hey fellows, this website and reddit has been superhelpful in my quick journey of less than a month to figure out how the leasing process works, what all bullshit to avoid and how to best get a deal on the 2024 Hyundai Ioniq 5 SEL RWD. This particular vehicle is leasing out and I am 100% sure you can get much better deals than even I did.
I compared various dealership quotes and told them to beat each other and finally a Hyundai dealership in Greensboro gave me a quote of $340/ month. Special mention to this dealership because they were super helpful and Nice and even though I could have negotiated down the cost I payed for packages the overall service and sales relationship I got was really nice.
After getting the lease I recently got a call back from another dealership which was close to Raleigh and they said now they had special offers with $299 monthly for the same make/mode/trim. The same dealership had quoted me $403 about 5 days back so it seems the yearly quotas might be the reason why the leases are super low.
Here is a breakdown of my numbers:
MSRP: 49780
Rebates: 15000 (negotiated from 14,500 to 15000, but I’ve seen other dealerships go till 16500)
Selling Price: 34780
Downpayment: $0
Monthly: $381.64 (my monthly negotiated was $340 and I added $40 worth of packages)
Rebates come from the manufacturer. They are usually based on the registration zip code. So I am not sure why you felt you had to negotiate. Everyone qualifies for these rebates.
What was the selling price before the rebates? Was this an MSRP deal?
Was there any money due at signing? What were the lease terms?
Hey all — I’m new here so I’m SO sorry if this is ignorant or missing something obvious.
A dealer in New Rochelle, NY sent me the below.
Is it really $89 per month? Granted, it requires a down payment. That said, $3k+ over 4s years is $100 or so per month.
I just get so stumped that the advertised rate never is the number folks end up walking out of the dealership with!
“
MSRP: $52,980. Ttl. Pymt/Residual: $2,136/$30,728.40. $3,995 down + $89. 1st mos. pymt. + $650 bank fee + $0 sec. dep = $4,734. Prices include all costs except tags, tax, licensing cost, registration fee, $175 doc fee, $1,395 destination fee. 12K mi/yr excess mileage. No security deposit required. To well-qualified lessees approved by Hyundai Motor Finance. Not all lessees will qualify. Lessee responsible for excess wear & tear. Applies to in stock vehicles only. May not be combined with other special offers except where specified. Leases are closed end. Exp. 01/02/2025. ”
you might be able to get 0 downpayment and the monthly equivalent amount for it. Most of the time my experience was that the advertised rate was not adhered to by the dealership but if you shop around and get quotes from everyone and try to make them beat each other’s quote you might be able to get that number.
edit: there is more than the downpayment you are paying apparently there is a bank fee mentioned which you can ideally get it removed since that is refundable.
