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2024 Hyundai IONIQ 6 Gets $349/mo No-Money-Down Lease Deal

Hyundai has lowered lease prices yet again for the IONIQ 6 electric car. According to bulletins sent to dealers this morning, 2024 Hyundai IONIQ 6 EVs now have a 24-month lease option for $349 per month with no money down. However, we found some important pros and cons with this new $0-down IONIQ 6 lease deal.

Starting today, the 2024 Hyundai IONIQ 6 SEL can be leased for $349 for 24 months with just $349 due at signing. On closer review, this is actually a zero-down lease, with the initial amount of $349 representing the first month's payment. Alternatively, the all-wheel-drive version is now listed at $449 with $449 at signing.

2023 Hyundai IONIQ 6 red color front view

The move follows last Friday's addition of 24-month ultra-affordable leases on the IONIQ 5. The national lease incentives for both EVs feature $10,000 in lease cash and higher residual values stemming from shorter 24-month contracts. Until recently, the brand's focus was on traditional 36-month leases for the IONIQ 5 and 6.

But is the $0-down IONIQ 6 lease really a good deal? At this price, the SEL trim has an effective cost of just $364 per month before taxes & fees. That's a good deal, but you could potentially upgrade to an SEL IONIQ 5 for just $11 more per month. It's now listed at $229 with $3,499 at signing or just $375 per month.

The IONIQ 5's MSRP is nearly $2,400 more expensive ($48,775 vs. $46,400). As a result, the extra $11 per month could make it a better value. Still, even at $364 per month, the IONIQ 6 is over $100 per month cheaper to lease than the 2024 Tesla Model 3 ($329 for 36 months with $5,524 at signing, or $482 per month).

We think a shorter IONIQ 6 lease could be an attractive option for consumers looking to upgrade to the latest technology sooner than with a traditional lease. Having said that, shoppers should keep in mind that, as usual, the tradeoff with a zero-down lease is a higher monthly payment than with a conventional lease.

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      Alex has been writing about car buying and leasing for over a decade. Originally from San Francisco, Alex has a degree in History from the University of California, Santa Barbara, and has been a lifelong lover of cars. Alex’s work has been featured in publications such as Forbes, The Wall Street Journal, Motor Trend, and more.

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