For example, the 2023 Hyundai Ioniq 6 SE electric sedan can be leased for $299 a month for 36 months, with $4,999 due at signing; it used to be $349 a month. The 2023 Ioniq 5 SE crossover is down $50 as well to $349 a month with $4,999 due at signing. Hyundai had previously lowered Ioniq 5 and Ioniq 6 lease prices in May.<\/p>\n
Interestingly, Hyundai’s EV lease price cuts came only days after Tesla did the same for its most popular models, the Model 3 sedan and Model Y crossover.<\/p>\n
Late last week, Tesla cut lease prices by up to $100 per month to $329 with $5,524 at signing for the base Model 3 RWD and $399 with $5,594 at signing for the Model Y RWD. The sums due at signing include\u00a0a $4,500 downpayment, the first monthly payment, and a $695 acquisition fee.<\/p>\n
Gallery: 2024 Hyundai Ioniq 6 <\/h3>\n
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Factoring in Hyundai’s latest EV lease price cuts, the Ioniq 6 is now $44 per month cheaper to lease than the Model 3, with an effective cost of $438 per month.<\/p>\n
This makes the Ioniq 6 cheaper to lease than a variety of EVs, including the 2023 Kia EV6 Wind ($538 per month) and even economy hybrids like the 2023 Toyota Corolla Hybrid ($452) and 2023 Hyundai Elantra Hybrid ($458).<\/p>\n
In addition to the lower lease prices, Hyundai is also offering better purchase incentives on both the Ioniq 5 and Ioniq 6. The rebate on SE and SEL trims is now $7,500 (up from $5,000), and the Limited trims feature a $2,500 rebate for the first time.<\/p>\n
Finally, Hyundai is also offering 0.99% financing for 48 months plus $2,500 in Low APR Bonus Cash on all trims through October 31.<\/p>\n
It’s worth noting that neither the Ioniq 5 nor the Ioniq 6 is eligible for a federal tax credit, so shoppers need to be aware that they can’t qualify for a $7,500 tax credit when purchasing these models.<\/p>\n
However, customers can benefit from the $7,500 commercial tax credit as Hyundai continues to use a loophole to pass along savings from the tax credit on leases.<\/p>\n
Gallery: 2024 Hyundai Ioniq 5 <\/h3>\n
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