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2024 Hyundai Palisade midsized SUV dark color front view
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Hyundai Aged Inventory Discount Offers Extra $1,000 Off IONIQ 5, Other Models

Hyundai is paying shoppers $1,000 to take its oldest cars off new car lots. According to a bulletin sent to dealers, the "24MY Aged Inventory Rebate" offers a big boost in savings on over half a dozen vehicles. While this could be a chance to score a bigger discount on cars like the IONIQ 5, we found important limitations.

Through April 30th, nearly every 2024 Hyundai that's been in a dealer's stock for over 180 days qualifies for an extra $1,000 off MSRP. Based on our analysis, the only exclusion is the all-electric IONIQ 6. Our records indicate that there may be up to 7 different Hyundai models that are eligible, though your results may vary.

Hyundai IONIQ 5 back view white color

Eligible vehicles based on last year's original release dates may include the 2024 Hyundai Venue, Elantra, Kona, IONIQ 5, Tucson, Palisade, and Santa Cruz. Having said that, it may be difficult to predict what your local dealers still have in stock after 6 months. For some buyers, this may be an unusual opportunity.

In the case of the 2024 Hyundai Tucson, Retail Bonus Cash increased to $2,000 on April 12th in most parts of the country (up from $1,250). On the East Coast, the Tucson Limited now features $2,500 off MSRP. In rare cases, this could present the chance to score $3,500 off if you can manage to find one that's eligible.

Hyundai Tucson compact SUV red color side view

The all-electric Hyundai IONIQ 5 has some of the most aggressive discounts we've ever seen, with leases starting at just $209 per month. That makes it one of the cheapest vehicles you can lease. With as much as $10,000 in lease cash, you may be able to nudge that to $11,000 with Hyundai's new inventory discount.

Discounts like this may have been unthinkable during the pandemic when an inventory shortage made it hard to get a deal. Now, Hyundai appears to be extremely motivated to give dealers the tools to sell its oldest inventory. In some cases, like the IONIQ 5, you can also stack the $1,000 with 0% financing for 60 months.

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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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