Hyundai Ioniq 5 Discount Hits $15,000 Off MSRP

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Senior Pricing Analyst

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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, Senior Pricing Analyst - January 5, 2024
2023 Hyundai IONIQ 5 EV rear view digital teal color

Hyundai is offering the biggest discount to date on the all-electric IONIQ 5. According to a bulletin sent to dealers, the automaker is pulling out all the stops to sell every last 2023 IONIQ 5 still sitting on lots. For a limited time, the IONIQ 5 discount now offers the chance to save as much as $15,000 off MSRP when leasing.

Through January 31st, all versions of the 2023 Hyundai IONIQ 5 offer $7,500 in lease cash. That's the same as last month, but there's a new incentive that began on January 3rd that doubles that. At the same time, dealers are being given a $7,500 Final Pay Incentive that Hyundai says can be stacked for $15,000 in savings.

2023 Hyundai IONIQ 5 front view grey color

The new discount, called the HMA Final Pay Incentive, is something like dealer cash that you won't see advertised and that offers dealers one last burst of support before the model sells out. Based on our analysis of national inventory data, it indeed looks like the 2023 IONIQ 5 is close to finally selling out at most dealers.

With the incentive, Hyundai says dealers can offer some incredible leases on the IONIQ 5. One example for the 2023 IONIQ 5 SE is a lease for $299 for 36 months with $4,999 due at signing (10,000 miles a year). Here, the underlying calculation says that the gross profit on the IONIQ 5 is negative $6,240 due to the incentive.

Alternatively, Hyundai offers a Sign and Drive example listed at $439 with $439 due at signing. These are without a doubt the cheapest IONIQ 5 leases that we've seen to date. While your results may vary, we think now could be an unusually good time to score the best price ever on a new IONIQ 5 if you can still find one.

Explore Hyundai IONIQ 5 Prices & Deals

, Senior Pricing Analyst

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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