2023 Hyundai IONIQ 5 Prices, Deals and Lease Options

2023 Hyundai IONIQ 5 Available With Limited Availability; 2022s Sold Out

The IONIQ 5 is an all-new EV with a range of over 300 miles and a starting price of just over $40,000. Hyundai already has a handful of deals for buying & leasing its newest electric car.

Shoppers should be aware that the base model IONIQ 5 won't be available until the spring. For now, the cheapest model is the 303-mile EV with an MSRP of almost $45,000. Hyundai is limiting initial IONIQ 5 sales to AZ, CA, CO, CT, FL, IL, ME, MD, MA, NJ, NY, OR, PA, RI, TX, VT, VA, and WA.⁠

Current offers end on May 31, 2023. Examples here are for Southern California unless noted otherwise. This page is updated monthly with the most recent incentives, so be sure to check back for the latest info.

Hyundai IONIQ 5 Lease Deals

Lease From $499 per month

Hyundai has one lease deal in place for the 2023 IONIQ 5. The SE Long Range trim is available for $499 per month for 36 months with $3,999 due at signing. This lease deal has an effective monthly payment of $610, which is a competitive deal.

Although a $7,500 federal tax credit was available to make the IONIQ 5 cheaper to lease, Hyundai Motor Finance (HMF) was actually keeping the incentive to itself. Normally, automakers that make electric cars & SUVs pass the savings on to consumers in the form of lease cash. The IONIQ 5 is no longer available with a Federal Tax Credit, though state rebates may still be available.

Hyundai IONIQ 5 Rebate Deals

Up to $3,750 off

The 2023 IONIQ 5 is available with a few rebate deals this month. Consumers showering for a SE or SEL trim will be eligible for up to $3,750 off as a finance bonus. The bonus is $1,000 for the Limited trim. In order to be eligible for the bonus, shoppers have to get financing through Hyundai.

You can also find state & local plug-in rebates depending on where you live.

Last month, Hyundai was offering the IONIQ 5 with up to $1,000 off as a finance bonus for shoppers that purchase a SE or SEL trim. Consumers have to get financing through Hyundai to be eligible for the finance bonus.

For example, the California Clean Vehicle Rebate (CVRP) offers a $2,000 post-purchase incentive on EVs. Unfortunately, the California Clean Fuel Reward (CCFR) which provided an upfront savings of $750 is currently on hold.

Manufacturer incentives can typically be combined with state plug-in incentives, but be sure to read the applicable fine print just to be sure.

Hyundai IONIQ 5 Finance Deals

Rates From 5.9% APR

Hyundai has introduced new financing deals for the 2023 IONIQ 5 this month. The electric vehicle is available with a 5.9% APR for 60 and a 6.35% APR for 72 months.

These rates are far higher than the ones that were available last month.