Hyundai Ioniq EV for $79/mo

Discussion in 'Hyundai/Kia/Genesis Hybrids and EVs' started by Salamander_King, Oct 25, 2019.

  1. Salamander_King

    Salamander_King Senior Member

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    Hyundai is having a crazy lease deal on Ioniq EV. $999 down, $79/mo for 3-year lease. Some dealers are sweetening the deal even more by using local or state incentives to pay for the required down payment, fees, and taxes, so you can drive away with a brand new BEV by paying just $79 at signing.

    Local Offers | HyundaiUSA.com

    Did anyone take delivery of Ioniq EV recently? It has only 124 miles range, but at this price, it may be worth a try. It could be the least expensive 3-year test drive. In fact, right now Hyundai is giving away $50 Visa, Amazon, or Target REWARD CARD for just test driving any of their vehicles.

    EDIT: Apparently this deal is regional. It is being offered in the East Coast states NC and north plus all of New England states but not offered in any other states. Other states currently have $2500 down $109/mo lease deal which is still very good.

    Screenshot_20191025-132523.png
     
    #1 Salamander_King, Oct 25, 2019
    Last edited: Oct 25, 2019
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  2. egg_salad

    egg_salad Active Member

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    Things must be different in New England, where you live. Here it's $109/mo with $2500 down.
     
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  3. Salamander_King

    Salamander_King Senior Member

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    Whoops. I knew it is a regional offer, but did not plug in different regions' zip cord. I wonder how the offer differs from region to region.

    Edit: I added at the top. The $999 down $79/mo deal is available in East Coast states, North of North Carolina and New England states only. All other states get $2500 down $109/mo deal.
     
    #3 Salamander_King, Oct 25, 2019
    Last edited: Oct 25, 2019
  4. Leadfoot J. McCoalroller

    Leadfoot J. McCoalroller Senior Member

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    Hey what hello?

    That’s a deal I could move on. Any word on the mileage allowance?
     
  5. Salamander_King

    Salamander_King Senior Member

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    12K/year

    Edit: 10K/year not 12K/year. plus an unknown amount of disposition fee if returning the car at the end of the lease.
     
    #5 Salamander_King, Oct 25, 2019
    Last edited: Oct 25, 2019
  6. Leadfoot J. McCoalroller

    Leadfoot J. McCoalroller Senior Member

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    When I got into the site it told me 10000/yr, and even that is well more than I’d need. I might go down to Hyundai tomorrow...
     
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  7. Salamander_King

    Salamander_King Senior Member

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    I checked it again. I thought I saw 12K, but you are right. It says 10K/year. It also does not say how much is disposition fee is going to be at the end of the lease.

    Screenshot 2019-10-25 at 6.51.32 PM.png
     
  8. bisco

    bisco cookie crumbler

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    could it be a big number? i don't even know what a disposition fee is? maybe the disposition of the remaining value?
     
  9. Leadfoot J. McCoalroller

    Leadfoot J. McCoalroller Senior Member

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    In most leases it’s a way for them to claw back whatever it costs to clean the car up and turn it around for resale. Sometimes it magically goes away when you agree to start a new lease- some dealers like to use it that way anyhow.

    Now it’s possible that they’ve set it to something stupid-high on this car, no way to know without calling them or going in.
     
  10. Salamander_King

    Salamander_King Senior Member

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    The end of the lease purchase price is $13748. If you buy the car you don't pay a disposition fee. Many dealers do also let you off the disposition fee if you either lease another car or purchase a new car at the lease-end. It should be spelled out on the lease contract how much the disposition fee is going to be, but it may be negotiable.
     
  11. Leadfoot J. McCoalroller

    Leadfoot J. McCoalroller Senior Member

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    Looks like no dealer within 3 hours of me has one.

    Fun while it lasted!
     
  12. bisco

    bisco cookie crumbler

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    in ma, a 30k bev would be 20k after fed and state credits. not sure if a 4k lease plus 14k buyout is that great a deal?
     
  13. Salamander_King

    Salamander_King Senior Member

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    Yeah, none of the Hyundai dealers I looked for has the base model. Found a few Limited model but they are $7K higher MSRP, that will bring the down payment and monthly payment higher substantially. It was the same when Nissan had a fantastic lease deal on the base model Leaf last year, but there was none in the entire US.
     
    #13 Salamander_King, Oct 25, 2019
    Last edited: Oct 25, 2019
  14. Leadfoot J. McCoalroller

    Leadfoot J. McCoalroller Senior Member

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    Who said anything about a buyout? If I did it, it would be going right back to them at lease end.
     
  15. bisco

    bisco cookie crumbler

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  16. Salamander_King

    Salamander_King Senior Member

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    It's a great deal if one does not qualify for a full feds credit and/or you just want to try out how BEV works for 3 years without a commitment.
     
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  17. Leadfoot J. McCoalroller

    Leadfoot J. McCoalroller Senior Member

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    of course there is one, but it would not apply if I had no intention of buying the car. I’d be paying the disposition & damage (if any) and walking away.
     
  18. Salamander_King

    Salamander_King Senior Member

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    Found 1 base model Ioniq EV at a Boston dealer, but I can not get there tomorrow. I have a feeling it will not last long.
     
  19. Leadfoot J. McCoalroller

    Leadfoot J. McCoalroller Senior Member

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    I suppose I can still take away the data point that Hyundai expects these to be worth around $14k after 3 years. GTK.
     
  20. hill

    hill High Fiber Member

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    if based off the 5 years we had our Nissan Leaf, for which we got a whopping $2,000 on a trade-in for that POS .... it'll probably be better than that. Do not buy an air-cooled EV.

    That said, it's likely that the Mitsubishi i-MiEV was the lowest EV lease Price ever. $49 a month with (can't recall amount) very little down
    .
     
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