As the year winds down, car manufacturers are rolling out enticing lease and financing offers, especially for electric vehicles (EVs) as they prepare for incoming 2025 models. While EVs have gained popularity in the U.S. in 2024, their sales are still lower than hybrid and gasoline-powered cars.
Many factors contribute to this, including the higher costs associated with EV technology and the general unfamiliarity surrounding electric vehicle ownership. For those hesitant to commit to long-term EV ownership, leasing can be a strategic choice. Leasing provides a way to experience the latest technology and switch to newer models as advancements continue to accelerate.
Among the various lease offers available this November, Hyundai’s deal for the 2024 Ioniq 5 stands out. This highly regarded South Korean EV crossover has consistently topped sales charts, posing serious competition to brands like Ford and Tesla.
Hyundai’s lease on the Ioniq 5 SE Standard Range model starts at $159 per month over a 24-month term, with $3,999 due at signing. This deal includes a generous $7,500 EV lease bonus and offers a mileage cap of 12,000 miles per year. Hyundai also provides similar offers across its Ioniq 5 range—$189 for the SE, $199 for the SEL, and $299 for the Limited trim—available until December 2nd. Additionally, Hyundai allows for lease customization, with extra discounts for recent graduates, first responders, and military personnel.
Leasing an EV like the Ioniq 5 has many advantages, such as a lower monthly payment and reduced maintenance costs due to the simplicity of EV design. Furthermore, leasing offers flexibility for drivers unsure about EV mileage or those who may want an upgrade when newer tech hits the market. A significant perk of EV leasing is that federal tax credits apply upfront, which may be more accessible for those who wouldn’t otherwise qualify for the incentives with a purchase.
For buyers interested in ownership, Hyundai also has a competitive financing deal for the Ioniq 5 with a 0% APR for 48 months and $7,500 in savings and incentives. This model also qualifies for the Inflation Reduction Act’s $7,500 tax credit due to Hyundai’s U.S.-based assembly at the Georgia HMG Metaplant, a rarity among non-American brands. The purchase price of the Ioniq 5 starts at $41,800 for the base SE model, with additional configurations like the Extended Range and Dual-Motor models priced higher at $45,850 and $49,350, respectively.
Hyundai also offers the Ioniq 6 sedan, with lease deals starting at $209 per month for the SE model, making it an affordable alternative in Hyundai’s EV lineup. The Ioniq 6 SE offers a single-motor, rear-wheel-drive setup for a balanced range and performance. Higher configurations in both the Ioniq 5 and 6 add power and all-wheel drive capability but come with slightly higher costs and lower mileage estimates.
For prospective EV lessees or buyers, these options make Hyundai’s Ioniq lineup an attractive choice with significant cost savings, flexibility, and tax benefits, especially during the final weeks of 2024.
