Hyundai to Offer Subscription-Based EV Ownership with New Ioniq

By

Automotive Editor

Justin Cupler has specialized as an automotive writer since 2009 and has been published in multiple websites and online magazines. In addition to contributing to CarsDirect, Justin also hosts a web-series car-review show and dabbles in the world of personal-finance writing.

His specialty is in the high-performance realm, but he has a deep love and understanding for all things automotive. Before diving into the world of writing, Justin was an automotive technician and manager for six years and spent the majority of his younger life tinkering with classic muscle cars.

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, Automotive Editor - November 21, 2016

The car-buying process has changed a lot with the arrival and spread of the internet in the past few decades. Most of the change, however, has come in the past 10 years, with dealerships putting inventory, prices, and even trade evaluations on the World Wide Web. Recently, Hyundai announced yet another new, unique way to get its newest car, the upcoming Ioniq.

Hyundai will offer the Ioniq Electric on a subscription basis to qualified people. This gives folks the ability to try out this new technology without committing to buying the car and without all the crazy hidden fees that come with a purchase or the burden of paying to maintain a car.

Not all the details are available, but Hyundai will give interested parties the ability to complete most of their subscription transaction online, including selecting the car and whether they want a 24- or 36-month subscription. Once the initial factors are considered, the subscriber simply submits a credit application, and upon approval, they see their price right on the screen. From there, the subscriber just heads to their local dealer, signs some paperwork, and drives off.

Hyundai Ioniq

Many people likely think this sounds a lot liked a lease, but it has some key differences. This subscription seems to have no buy-out option at the end of its term, there is no mileage cap, it comes with 100 percent free charging and maintenance, and no-charge wear-and-tear items, and there are no other hidden fees that typically come with a lease, like turn-in fees at the end of the term.

Hyundai plans to roll out this process in California in early 2017. There is no mention of what the payment ranges will be. Stay tuned for updates.

, Automotive Editor

Justin Cupler has specialized as an automotive writer since 2009 and has been published in multiple websites and online magazines. In addition to contributing to CarsDirect, Justin also hosts a web-series car-review show and dabbles in the world of personal-finance writing.

His specialty is in the high-performance realm, but he has a deep love and understanding for all things automotive. Before diving into the world of writing, Justin was an automotive technician and manager for six years and spent the majority of his younger life tinkering with classic muscle cars.

Follow On: Twitter | Website

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