2022 Elantra N, Kona N Rebate Deal Has A Catch

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Managing Editor

As CarsDirect’s resident pricing expert, Alex offers must-know analyses of pricing & incentives to those looking to buy or lease a car. His consumer-oriented coverage of the latest trends and breaking news has been featured by The Wall Street Journal, Fox Business, Motor Trend, Automobile Magazine, and more.

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, Managing Editor - December 1, 2021

Hyundai is already discounting its two newest models, the Elantra N and Kona N. However, a closer look finds that there's a built-in catch that could limit your ability to get a deal on either the sporty new sedan or the SUV this holiday season. Here's a quick look at some of the biggest pros and cons of this early rebate deal.

Whether you're buying the 2022 Elantra N or the Kona N, Hyundai is offering a $500 cash incentive when taking out a loan through its captive financing company. The biggest downsides are that you'll need to finance your purchase, and the incentive is only available when buying these models and totally excludes leases.

As we reported earlier today, the Elantra N has a lease deal with an effective cost of $500/month. Separately, the Kona N has an effective cost that's just $8 more expensive than the Veloster. Given that both of these leases are quite expensive, being able to score a $500 discount at launch could be a relatively good deal.

Sadly, both the Elantra N and Kona N are ineligible for a year-end deal involving 0% APR plus deferred payments for 90 days. In contrast, regular versions of the 2022 Elantra and Kona qualify for both. If you're looking to lease, both feature $0-down lease deals starting at just $249 and $289 for 36 months, respectively.

Oddly enough, the Veloster N does offer 0% APR for 48 months plus the 90-day deferral on your first month's payment. As a result, it's possible that a Veloster may prove to be a better deal by comparison. However, that's assuming you can manage to avoid a potential dealer markup amidst an ongoing inventory shortage.

Although the Kona N is only slightly more expensive than the Veloster on paper, the lower interest rate could make it more affordable. Just be aware that you'll need top-tier credit for Hyundai's best rates. It remains unclear if these deals will disappear in January when manufacturer incentives typically do at the start of the year.

Current Hyundai offers end on January 3rd and can vary by region. The financing incentives listed here are available nationally based on a manufacturer incentive bulletin sent to dealers today.

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, Managing Editor

As CarsDirect’s resident pricing expert, Alex offers must-know analyses of pricing & incentives to those looking to buy or lease a car. His consumer-oriented coverage of the latest trends and breaking news has been featured by The Wall Street Journal, Fox Business, Motor Trend, Automobile Magazine, and more.

Follow On: Twitter

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