Hyundai's Ioniq Hybrid Is Gunning For Prius Owners With Exclusive $1,000 Discount

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Senior Pricing Analyst

Alex Bernstein is the Senior Pricing Analyst for CarsDirect.com. Each month he studies immense volumes of pricing and incentives data in search of trends that are useful to car shoppers. In the process, he often breaks industry news stories -- his analyses and insights have been featured on websites such as Automotive News, The Detroit News, Autoblog, The Truth About Cars and The Car Connection.

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, Senior Pricing Analyst - September 13, 2017

Sales of hybrid cars may be in the dumps, but Hyundai has been oddly careful of offering deep discounts on its all-new Ioniq Hybrid. The car has been on sale for 6 months and still features zero cashback incentives, a big contrast to the $3,000 in savings you'll find in the Prius family this month.

However, there's a bit of good news for those with a Prius sitting in their garage. This month, Hyundai is offering an unusual $1,000 conquest bonus, but the rules are unlike those of any other Hyundai at the moment. But is it really a good deal? And what's the best combination of offers right now?

Here's what you need to know.

Offer Details

Through October 2, current owners and lessees of a Prius vehicle can get an extra $1,000 off any Ioniq Hybrid. All versions of the Prius are eligible regardless of model year, including the Prius c, Prius v, Plug-in, etc.

Like most offers from Hyundai, the savings can be transferred between members of the same household and doesn't require a trade-in. Just show proof of registration to your local dealer to get the offer.

That said, unlike offers from Hyundai that target a much wider swath of competitors, only Prius owners benefit from the added discount here. Combined with other offers, there are some decent deals to be had.

Hyundai is offering well-qualified shoppers 0% APR for 60 months, or 1.9% for 72. That's nice, but competitors like the 2017 Prius have featured 0% APR for 72 months for a while now.

Leasing is an area in which Hyundai offers a nice advantage. The 58 mpg Ioniq Hybrid Blue can be leased from $219 for 36 months with $1,999 due at signing and an allowance of 12,000 miles per year.

With an effective cost of $275/month based on the payment and amount at signing, the vehicle has a $50/month advantage over a Prius Two ($325). If you apply this month's $1,000 bonus, you can reduce your cost even further.

Although these certainly aren't record-setting discounts, they're worth knowing about given how stagnant offers have been on the Ioniq. There could be better deals this fall, but we think it's unlikely given what we've seen so far.

Learn more about the Ioniq Hybrid »

, Senior Pricing Analyst

Alex Bernstein is the Senior Pricing Analyst for CarsDirect.com. Each month he studies immense volumes of pricing and incentives data in search of trends that are useful to car shoppers. In the process, he often breaks industry news stories -- his analyses and insights have been featured on websites such as Automotive News, The Detroit News, Autoblog, The Truth About Cars and The Car Connection.

Follow On: Google+ | Website