Many drivers assume that EVs are out of their price range, but this year’s Hyundai electric vehicles are surprisingly affordable. Find out what to expect regarding pricing before you head to the dealership.
At first glance, the pricing for Hyundai electric vehicles may not seem like anything to write home about. Yes, their new IONIQ 9 and upgraded IONIQ 5 are surprisingly affordable for EVs, but EVs are expensive. The good news is that the automaker is offering substantial discounts that bring prices even lower.
How Much Does It Cost to Lease a Hyundai IONIQ 9?
Hyundai’s new IONIQ 9 three-row electric SUV is the automaker’s first foray into the segment, but you’d never guess it based on the vehicle’s quality. It boasts 87 cubic feet of cargo space and comes at a lower price than the competition.
Let’s take a look at one example. The Toyota Highlander Hybrid is one of the IONIQ 9’s closest competitors. It costs $579 monthly to lease a Highlander XLE Hybrid for three years, with $2,999 due at signing. The IONIQ 9 costs just $419 monthly for the same lease term.
The IONIQ 9 has a higher down payment than the Highlander XLE Hybrid, with $4,999 due at signing. However, if you add that to the lease cost, you come up with $558 per month on average. Do the same math for the Highlander and you’ll get $662 monthly.
How Much Does It Cost to Buy a Hyundai IONIQ 9?
The IONIQ 9 has a higher starting MSPR than the Highlander. However, Hyundai currently offers a $5,000 cash bonus across all trim levels for its new EV SUV. Combine that with the current $7,500 federal EV tax credit, and you’ll get an impressive $12,500 potential upfront savings.
Once you consider the tax credit and the cash bonus, prices for the IONIQ 9 can start as low as $48,000. That’s roughly comparable to what you’d pay for a three-row hybrid SUV. You’ll also get great value for the money with a range of 335 miles and a built-in Tesla Supercharger NACS port.
More Affordable Hyundai Electric Vehicles
If you’re looking for more affordable Hyundai electric vehicles, the IONIQ 5 is a great option. It boasts 318 miles of driving range and, like the IONIQ 9, has a native NACS charging port. You can lease one for just $209 per month.
We’ve got even better news if you’re considering purchasing an EV outright. The starting MSRP for the IONIQ 5 SE Standard Range is just $43,975 before applying any discounts or credits. With the federal tax credit, effective prices start at $36,475.
To sweeten the deal, Hyundai now offers a free ChargePoint Home Flex Level 2 charger with every IONIQ 5 or 9 purchase or lease. This offer will end on June 2, 2025, so take advantage of it now to get the best possible deal on Hyundai electric vehicles.