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Learn More About The Hyundai IONIQ 5

What you must know before purchasing your IONIQ 5. Use this pricing analysis to negotiate the best price with the dealer.

Highlights:

  • 2022 Hyundai IONIQ 5s arriving
  • Lease: No advertised lease deals
  • Rebate: Plug-in incentives available
  • Finance: From 2.79% APR for 60 months

2022 Hyundai IONIQ 5 Arriving

The IONIQ 5 is an all-new EV with a range of over 300 miles and a starting price of just over $40,000. Unlike a Tesla, it's eligible for a full $7,500 federal EV tax credit. Hyundai already has a handful of deals for buying & leasing its newest electric car.

Shoppers should be aware that the base model IONIQ 5 won't be available until the spring. For now, the cheapest model is the 303-mile EV with an MSRP of almost $45,000. Hyundai is limiting initial IONIQ 5 sales to AZ, CA, CO, CT, FL, IL, ME, MD, MA, NJ, NY, OR, PA, RI, TX, VT, VA, and WA.⁠

Current offers end on May 31, 2022. Examples here are for Southern California unless noted otherwise. This page is updated monthly with the most recent incentives, so be sure to check back for the latest info.

Hyundai IONIQ 5 Lease Deals

No advertised lease deals

Hyundai doesn't have an advertised lease incentive yet on the 2022 IONIQ 5.

Although a $7,500 federal tax credit should make the IONIQ 5 cheaper to lease, Hyundai Motor Finance (HMF) is actually keeping the incentive to itself. Normally, automakers that make electric cars & SUVs pass the savings on to consumers in the form of lease cash.

Previously, we saw Hyundai offer a lease-like balloon financing option called Hyundai Evolve Retail. The 2022 IONIQ 5 SE Long Range was listed at $742 for 36 months with a $0 down payment. This could be an expensive option but does give consumers access to the tax credit. This balloon financing option is no longer available.

Hyundai IONIQ 5 Rebate Deals

Plug-in rebates available

There are no manufacturer rebates yet on the 2022 IONIQ 5. However, you will find a variety of state & local plug-in rebates depending on where you live.

For example, the California Clean Vehicle Rebate (CVRP) offers a $2,000 post-purchase incentive on EVs. In addition, the California Clean Fuel Reward (CCFR) provides upfront savings of $750. That's $2,750 in potential incentives for those who qualify.

Manufacturer incentives can typically be combined with state plug-in incentives, but be sure to read the applicable fine print just to be sure.

Hyundai IONIQ 5 Finance Deals

RATES FROM 2.79% APR

The IONIQ 5 is available with 2.79% APR financing for up to 60 months and 3.79% APR financing for 72 months.

We think it's unlikely that the IONIQ 5 will get 0% financing anytime soon.

Current Finance Deals

Interested in financing your new car? If so, make sure your dealer includes these incentives.

Financing Incentives

RebateAmount
Promotional APR Offer
Promotional APR programs available for qualified buyers. Please check with your CarsDirect Trusted Dealer for complete details.
 

Current Lease Deals

Considering a lease? These are the best lease deals available for the Hyundai IONIQ 5.

SE Long Range EV (Balloon Financing)
Payment
$648
Term (mos)
36
Due at Signing
$3,044
MSRP
$44,895
Get a custom lease quote now » Get a custom lease quote now »

Leasing Incentives

RebateAmount
Promotional Lease Offer
Promotional lease offer available for qualified buyers on approved credit. Please check with your CarsDirect Trusted Dealer for complete details.%NotesManuf% %Eligibility% Consumer rebate may NOT be combined with HMF Special Lease Programs. This HMF Special Lease program may be combined with Lease Cash.
 

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Expert's Rating

4.2Excellent | Details

MPG

122 City / 93 Highway

Introduction

What's New

The 2022 Hyundai IONIQ 5 is an all-new fully electric compact crossover that will feature cutting-edge EV technology including bi-directional and 800V DC charging, 303 miles of range, a stretched wheelbase for maximum internal capacity, an eco-friendly futuristic interior, and a distinctive exterior style.

The IONIQ 5 will be the first vehicle built by Hyundai on a brand-new platform exclusively for electric vehicles, which will eventually lead to larger crossovers using the same technology. It is aiming at competing with other electric crossovers like the Tesla Model Y, the Volkswagen ID.4, the Ford Mustang Mach-E, and the Chevy Bolt EV.

Choosing Your Hyundai Ioniq Hybrid

The 2022 Hyundai IONIQ 5 electric vehicle is available in three trims: SE, SEL, and Limited. Prices range from $44,895 (including destination) for the SE and range up to $51,845 for the Limited.

A lower-priced base model called the SE Standard Range version should arrive in the spring with just 168 horsepower and a reduced range of about 220 miles for the single motor configuration. More details will be available later, but Hyundai says pricing will start at $40,945.

Engine Choices

As an electric vehicle, the IONIQ 5 doesn’t have an engine. Instead, it has up to two electric motors and a 77.4 kWh battery pack. Base models receive the single motor option as standard, but the dual motor configuration is available as a $3,900 option.

Tradeoffs exist between the single motor and dual motor options, notably in range and performance. Dual motors are much faster than the single motor, with a 0-60 mph time under five seconds according to Hyundai, but there is a significant range penalty associated with the increased performance. Single motors are about two seconds slower to 60 mph but will give you over 50 miles of extra range.

The IONIQ 5 has some impressive charging stats as well. It can operate on both 400-volt and 800-volt charging infrastructures, and it can charge the battery to 80% in just 18 minutes from an 800V. If you’re pressed for time, you can get about 68 miles of range in about five minutes from an 800V/350 kW charger. The onboard charger will fully charge in less than seven hours using a 240V outlet.

Finally, Hyundai is throwing in unlimited charging for two years at any of 700 Electrify America fast-charging stations across the country.

Engine TypeHorsepowerTorqueDrive TypeRange
Single Electric Motor225 hp258 lb-ftRear-Wheel Drive303 miles
Dual Electric Motor320 hp446 lb-ftAll-Wheel Drive256 miles

Passenger and Cargo Capacity

The IONIQ 5 is notable for just how much interior space they’ve managed to create by shoving the wheels as far as they can to each corner. While there’s only seating for five, the extra-long wheelbase means there is plenty of legroom available in both rows.

Cargo space is also optimized, with 27.2 cubic feet behind the second row, and up to 59.3 cubic feet with the second row folded down.

Safety Features

The IONIQ 5 has a large number of standard safety features, wrapped up in a package called Hyundai SmartSense. This package includes Highway Driving Assist 2, which can help steer and drive the car along highways, respond to other drivers and assist with lane changes. It isn’t self-driving in any real sense, but it is nice to have.

SmartSense also includes adaptive cruise control, forward collision avoidance, lane-keeping assist, blind-spot monitoring, collision avoidance, driver attention monitoring, and automatic high beams.

Unfortunately, the IONIQ 5 hasn’t been crash-tested yet or rated by the IIHS or NHTSA.

Connectivity

In an electric car this futuristic you’d expect it to have connectivity in droves, and we’re happy to report that it does. Hyundai will offer over-the-air wireless updates for various software including maps and multimedia software. Additionally, the Hyundai Bluelink app will allow you to see the car’s current range, battery level, and charging times, as well as select charging schedules to maximize usage of off-peak electricity rates. The app also allows you to schedule the vehicle to pre-heat or pre-cool the interior before you need it and find charging locations and send it to the vehicle’s infotainment screen.

Speaking of screens, the IONIQ 5 features a large 12.3-inch touchscreen and a 12.3-inch digital instrument cluster that can be custom configured as needed. This infotainment system features navigation, Apple CarPlay, Android Auto, and voice recognition control of a variety of functions from climate control to opening the back hatch.

2022 Hyundai IONIQ 5 SE - MSRP From $44,895

SE models come standard with stain-resistant cloth upholstery, an eight-way power driver seat, heated front seats, dual-zone automatic climate control, brake regeneration paddle shifters, and USB ports. Additionally, SE models receive an acoustic front windshield and LED headlights with automatic high beams.

The only option for the SE is the Dual Motor, which adds $3,500 to the price. White is also considered a premium color for $400.

2022 Hyundai IONIQ 5 SEL - MSRP From $47,145

The SEL adds a few desirable features to the IONIQ 5, including leatherette seats, wireless device charging, auto up-down front windows, second-row HVAC vents, a heated steering wheel, and ambient interior lighting. Headlights are upgraded to projector-style lights, and the vehicle receives a hands-free tailgate and power-folding mirrors.

Like the SE, there are no options besides Dual-Motor configuration, but a new premium paint is available for $1,000 called Shooting Star (it’s grey).

2022 Hyundai IONIQ 5 Limited - MSRP From $51,845

The Limited Trim brings a lot to the table over the SEL. Included as standard are remote parking assist, a panoramic glass roof, a driver memory seat, a power-adjustable passenger seat, seat ventilation, adjustable head restraints, a Bose audio system, and a head-up display.

The Limited is also where you can find many of the party tricks that Hyundai is most proud of, including a sliding center console that lets you get in from either side of the vehicle easily, the Hyundai digital key, and a backseat Vehicle-to-Load functionality that allows you to power small appliances and devices.

Like all other trims, the only option is the Dual Motor configuration, but for some reason, it costs $3,900 in the Limited trim instead of $3,500.

Compare Ioniq 5 Trims Side-By-Side

CarsDirect Tip

The IONIQ 5 is an extremely compelling electric vehicle with a ton of advantages. We think the SEL offers the most value of the three trims. We also think that unless you have the need for speed, the single motor configuration offers the most advantages, so it’s worth saving the $3,500 (or $3,900) over the dual-motor.

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