Hyundai Ioniq 5 N Gets a Surprising Lease Price Cut: Is It the Right EV for You?
The Hyundai Ioniq 5 N, a performance-oriented electric vehicle (EV), is turning heads not just for its exhilarating driving experience but also for a recent price adjustment. Hyundai has dropped the lease price by $200 per month, making this powerful EV more accessible. But is the Ioniq 5 N the right choice for you? Let's dive into the details.
Leasing the Ioniq 5 N: A New Deal
Previously, leasing the Ioniq 5 N came with a hefty price tag, but Hyundai is now offering a more attractive deal. According to Cars Direct, the new lease stands at $699 per month for 36 months, with $3,999 due at signing. This translates to an effective monthly cost of $810. While not exactly cheap, this represents a significant $7,200 saving over the entire lease period. Hyundai achieved this price reduction by manipulating the Money Factor (interest rate) and inflating the residual values of the vehicle.
Why the Price Cut?
Carscoops suggests that Hyundai is aiming to clear out existing Ioniq 5 N inventory in preparation for the 2026 model release. This could be a strategic move to boost sales and make room for upcoming models. However, this deal is for a limited time, running until June 2nd, so potential lessees should act fast.
Performance and Features: More Than Just an EV
The Ioniq 5 N boasts impressive performance figures. Its dual electric motors generate 641 horsepower, delivering exhilarating acceleration and engaging handling. As Jalopnik highlights, Hyundai has focused on creating an EV that's not only powerful but also enjoyable to drive, even for enthusiasts of traditional internal combustion engines. It even simulates engine noises and shifts, enhancing the driving experience.
Alternatives to Consider
While the Ioniq 5 N is undoubtedly a compelling option, it's not the only high-performance EV on the market. According to an article, potential buyers should also consider alternatives such as the Cadillac Optiq, the Ford Mustang Mach-E (GT and Rally trims), and the Genesis GV60. Each of these vehicles offers a unique blend of performance, features, and price point.
The Cadillac Optiq, for example, prioritizes comfort and a luxurious aura, while the Ford Mustang Mach-E challenges the Ioniq 5 N in performance and offers off-road capabilities. The Genesis GV60, from Hyundai's own group, boasts a premium feel with similar performance characteristics. While the article points out that the Mustang Mach-E and Ioniq 5N come without Tax Credit, The Cadillac Optiq does have possibility for $7500 Tax Credit. Something to keep in mind.
Purchase vs. Lease: Which is Right for You?
Currently, the lease discount doesn't extend to outright purchases of the Ioniq 5 N. If you're considering buying, you'll likely pay the manufacturer's suggested retail price. Whether leasing or buying makes more sense depends on your individual circumstances and long-term plans. Leasing offers lower monthly payments and the flexibility to upgrade to a new model after the lease term, while purchasing builds equity and provides long-term ownership.
Final Thoughts
The Hyundai Ioniq 5 N's lease price cut makes it a more attractive option for those seeking a high-performance EV. However, it's essential to consider your needs and compare it to alternatives before making a decision. Do you prioritize performance, luxury, or off-road capabilities? Are you looking for the flexibility of leasing or the long-term benefits of ownership? With a compelling combination of performance, style, and now, a more affordable lease, the Ioniq 5 N is certainly worth a closer look.
What are your thoughts on the Hyundai Ioniq 5 N? Let us know in the comments below!
