[Dodge1959]

Maybe if you buy it out, the money comes off the back end so you might not save as much $$ as you'd think.

I’ve always leased - the monthly payment looks very reasonable- other factors in support of leading v buying - EV market is still at early development stages - new models new fuel cell technologies longer range technology may be launched in next few years - you know the exact cost over your lease agreement - if you buy you have no idea of car value in 3 or 4 years

 

[golferdudestephen]

I'm about to take advantage of my local Hyundai dealer offering $17,500 off a SEL AWD. MSRP 52,770 - $17,500. That's $559mo 39 mo 15k lease $0 out of pocket and fees. What do you guys think? Good deal or not worth it? Thks

Sounds like an awesome deal. I just bought a 22 SEL AWD w/25k for $37k last week- I really like the used one, but would be much happier with a new one for the same price!

 

[golferdudestephen]

Good feedback thks. Are most Ioniq 5 owners not leasing? I'm not sure if I want to keep the car after 3yrs. That's why I was considering a lease. I also wanted to confirm that the $17500 was a great offer.

The technology is changing so quickly, and the new solid state batteries sound very promising for a much better range and lower cost. A short-term ownership makes sense right now.

 

[xophere]

The lease is the only way to get the gov kick back. Of course those that bought hope we are wrong but I would never have purchased a non nacs car at this point. It is a fine car. That discount is great. The purchase is betting the market will be better for the car not worse. Or that you will want it after warranty. I am betting inflation is calming. That I can buy a better car for $30k with 30k miles. I am betting against Hyundai getting it perfect on year three.

 

[HKtech]

please keep this forum informed of your progress!..

I will see if other friends will agree with this to share. This will be our hidden thing playing with E-GMP platform.

 

[ev4ev]

The reason I bought out the car vs. leased was because it was all in $46,435 (prior to $7500 credit) but my price is $32,000 or so (taxes included with trade, etc.).

If I leased, then turned in the car I would have had to pay 35 more monthly payments of 390.88 plus $2466 downpayment (not sure why I picked this number), plus $5099 trade in equity.
3 years of ownership for $22,102, includes $400 lease turn in fee, is not worth it to me. This is effectively $613.94/month.

At $38,935.12 ($7500 lease pass through reduced from cap cost) my breakeven, based on this math, is 5 years and 3 months if the car is worth $0 at the end. People can do what they want to do with their money but $600+/mo for a car is a lot of money to me without having any equity/trade in at the end.

I bought out my lease for 2019 Ioniq (28kWh) and that was around $19000 all in (taxes, etc.) and owned it so far for 50 months with it having a current value of ~$14000, making my ownership of the car around $100/month. That one I could have walked away from too, but I chose not to given the equity value.

Hoping this math isn't too much. Maybe this will help someone!

 

[xophere]

Yep these are great prices. I was happy with my lease back in October but you guys are killing me. But in PDX they aren't really sitting around.

 

[ed5]

I bought my Ioniq 5 LTD AWD 19 months. There were no lease deals at the time. I paid MSRP and 3% APR on the loan.
I am $5000 theoretically underwater on the loan because the used car prices on EVs has tanked. But, I got rebates a total of $8000 from the federal and state and will save about $2500 in gas bills over the three years of free charging so am still ahead of the game. However, I am a senior and hope this car is my last.

I know there will be future EVs with improvements, but this car meets my need beautifully now so the mantra of lease only because of future improvements go over my head. As to the "you must be crazy to buy an EV without a NACS port" also leaves me scratching my head. Hyundai has publicly stated they will make a dongle available in January 2025 so our cars can use NACS chargers.

 

[xophere]

Totally. If they hadn't put the US made and income limits the math would be different for me as well and I might have bought. The government help is great but it does bend the market in odd ways. It isn't 100% clear to me how it effects the used EV market when these things are gone. I really have no idea if my car will be worth $31k at the end of the lease. I doubt it but if it is I may consider it and regret having leased. But generally I betting against that. I do really like the car. Would I have been happier with a sel rwd? Certainly. But there are many cars in the horizon that I am excited about.

 

[Javikid]

It looks like I did get a deal since they are only offering $5000 off MSRP on the 2023s. Thank you all for the feedback 🙏

 

[doobie]

we leased to get the $7500 'discount' hyundai was passing through from the feds to the consumer. We bought out this lease because:
1. hyundai and most states (UT for us) make it a no-brainer with the total cost over purchase being $300 buyout fee plus any diff in interest (loan=6.7, lease=7.9)
2. the market is volatile. in 3/23, used HI5's were going for the price of new. demand is still increasing, but not at expected rate, and there is excess inventory. This could easily change. The doomSaying in the media is LOL hilarious. nobody talks about how big a roll gas prices play. they are at about the lowest they can be for longTerm viability. When they spike again, EV's will be a much more attractive option. Humans are terrible at planning. They look at the MPG, look at gas prices and make a decision, and then whine when prices go up, forgetting that change is inevitable.
3. The lease will cost more, but you risk less. However, with warranty, you get a pretty good lowRIsk period, and not much will change in 3years. the 2025MY HI5 is expected to be very similar to the 22, for eg. Having said that, if ever there was a particular market suited to leasing, this would be it.
4. someone pointed out the benefit of enjoying it now. Economists call this the 'opportunity cost'. The longer you wait, the more time you don't get to enjoy the benefits of an EV. We had looming ICE maintenance, terrible record on a part now out of warranty, and very cheap electricity. SO, for us waiting was costing money (at the time). Having said all that, if you're not ready for a new car, waiting can have its benefits. EVs are only going to get better. Just remember it's early days and things will be going up and down in both experience and price.

 

[doobie]

Totally. If they hadn't put the US made and income limits the math would be different for me as well and I might have bought. The government help is great but it does bend the market in odd ways. It isn't 100% clear to me how it effects the used EV market when these things are gone. I really have no idea if my car will be worth $31k at the end of the lease. I doubt it but if it is I may consider it and regret having leased. But generally I betting against that. I do really like the car. Would I have been happier with a sel rwd? Certainly. But there are many cars in the horizon that I am excited about.

great point here. I forgot an important factor. How good of a fit is the HI5? For some, it was a compromise or just one of many that would fit the bill. We tried a lot of the competition and nothing could touch the HI5 for us. If it's not a solid fit, maybe a lease is a better idea.

 

[SWY]

I'm about to take advantage of my local Hyundai dealer offering $17,500 off a SEL AWD. MSRP 52,770 - $17,500. That's $559mo 39 mo 15k lease $0 out of pocket and fees. What do you guys think? Good deal or not worth it? Thks

I'm in NorCal too. Would you be able to share your dealership and dealer contact?

 

[macklin77]

The technology is changing so quickly, and the new solid state batteries sound very promising for a much better range and lower cost. A short-term ownership makes sense right now.

I was going to wait to go full electric. But then I read that Toyota is pushing back their rollout of solid state batteries until 2027. Then there is the fact that just because you have a battery that can charge super fast doesn't mean there will be the infrastructure in place to charge it.

 

[macklin77]

I'm about to take advantage of my local Hyundai dealer offering $17,500 off a SEL AWD. MSRP 52,770 - $17,500. That's $559mo 39 mo 15k lease $0 out of pocket and fees. What do you guys think? Good deal or not worth it? Thks

I got this same deal a month ago on the very same model. SEL AWD, MSRP of $53,065. I didn't want to lease the car, but needed to in order to get the 7500. After two weeks of owning the car, I paid it off. The dealership advertised the sale price as $35,500. That's not the deal I got when I paid bought out the lease. All said and done, it turned out to be $36,700. That came as a disappointment, but I am very happy with the car. Even at the actual price paid, it's still a great deal. Mine was a 36 month lease and my MY is 2023.

 

[getshokin]

I'm in NorCal too. Would you be able to share your dealership and dealer contact?

Call San Leandro Hyundai and ask for Andrew K.

 

[Coastal]

I'm in NorCal too. Would you be able to share your dealership and dealer contact?

I got an email yesterday from Capitol Hyundai San Jose (SF Bay Area) with these offers (the most interesting to me if I was in the market now would the Limited AWD at the end - they definitely seem like they are trying to move them...):

NEW 2024
HYUNDAI IONIQ 5 SE STANDARD RANGE

$199/mo + tax
24 MONTH LEASE

$1,999 Customer Cash down + $10,000 Lease Bonus Cash for a total of $11,999 due at signing. $0 security deposit; plus tax and license. Lessee responsible at lease end for mileage in excess of 12,000 miles per year at $0.20 per mile. On approved credit. 3 at this offer. STK# H34015, H33979, H34206. VIN RU234555, RU234534, RU248395.

NEW 2024
HYUNDAI IONIQ 5 SEL RWD

$209/mo + tax
24 MONTH LEASE

$2,999 Customer Cash down + $10,000 Lease Bonus Cash for a total of $12,999 due at signing. $0 security deposit; plus tax and license. Lessee responsible at lease end for mileage in excess of 12,000 miles per year at $0.20 per mile. On approved credit. 3 at this offer. STK# H34369, H34415, H34420. VIN RU250357, RU251169, RU250799.

NEW 2024
HYUNDAI IONIQ 5 SE RWD

$229/mo + tax
24 MONTH LEASE

$1,999 Customer Cash down + $10,000 Lease Bonus Cash for a total of $11,999 due at signing. $0 security deposit; plus tax and license. Lessee responsible at lease end for mileage in excess of 12,000 miles per year at $0.20 per mile. On approved credit. 3 at this offer. STK# H34598, H34591, H34554. VIN RU268684, RU269067, RU250920

HYUNDAI IONIQ 5 LIMITED RWD

$279/mo + tax
24 MONTH LEASE

$3,999 Customer Cash down + $10,000 Lease Bonus Cash for a total of $13,999 due at signing. $0 security deposit; plus tax and license. Lessee responsible at lease end for mileage in excess of 12,000 miles per year at $0.20 per mile. On approved credit. 4 at this offer. STK# H34531, H34538, H34540, H34546. VIN RU266061, RU266124, RU266145, RU253204.

NEW 2024
HYUNDAI IONIQ 5 LIMITED AWD

$349/mo + tax
24 MONTH LEASE

$3,999 Customer Cash down + $10,000 Lease Bonus Cash for a total of $13,999 due at signing. $0 security deposit; plus tax and license. Lessee responsible at lease end for mileage in excess of 12,000 miles per year at $0.20 per mile. On approved credit. 4 at this offer. STK# H33925, H33966, H33967, H33992. VIN RU237009, RU234082, RU234025, RU233974.

 

[getshokin]

I got this same deal a month ago on the very same model. SEL AWD, MSRP of $53,065. I didn't want to lease the car, but needed to in order to get the 7500. After two weeks of owning the car, I paid it off. The dealership advertised the sale price as $35,500. That's not the deal I got when I paid bought out the lease. All said and done, it turned out to be $36,700. That came as a disappointment, but I am very happy with the car. Even at the actual price paid, it's still a great deal. Mine was a 36 month lease and my MY is 2023.

And you got your title? Interesting: the IRA is written so leasing companies can't (legally) do this: they're not supposed to sell the car for 3 years, otherwise it's considered resale.

 

[Coastal]

And you got your title? Interesting: the IRA is written so leasing companies can't (legally) do this: they're not supposed to sell the car for 3 years, otherwise it's considered resale.

Can you provide a source for this. I think many in this forum have leased and then bought out their leases immediately.

Thanks

 

[getshokin]

Can you provide a source for this. I think many in this forum have leased and then bought out their leases immediately.

Thanks

Commercial Clean Vehicle Credit | Internal Revenue Service

Businesses and tax-exempt organizations that buy electric vehicles and mobile machinery may qualify for clean vehicle tax credits up to $40,000.

www.irs.gov