Hyundai Ioniq 5 pricing.

My dealer told me Hyundai Leasing is keeping the US $7500 rebate for themselves. Puts the 5 out of reach for me.

 

Geoff, is your dealer Quirk in Bangor? No matter, did whomever you spoke with indicate that the tax credit amount would be applied as a deduction against the proposed lease amount, assuming that you would be able to claim the full amount based on your tax situation? For a lot of us who would consider leasing the 5 this is important information. Thanks.

 

You got the dealer right.

The lease pricing did NOT include the $7500 reduction. It did include the ME $2000 point of purchase reduction.

So buying the vehicle and being able to take the $7500 tax credit means that vehicle’s way less expensive.

 

That's not right, Geoff. The Federal $7,500 isn't a rebate. It's a credit against your tax liability in the year you purchase the vehicle. There's no way for a dealer to grab a tax credit.

 

Right.

But Hyundai Leasing is the owner, so they're taking the tax break. They are not reducing the capitalized cost (CC) as has happened in the past. They are getting the $7500 back on their taxes. GM was doing the same thing with the Bolt but only keeping 1/2 the tax credit.

When we leased a Ford Focus Electric, Ford Leasing reduced the CC by $7500. When we leased a Hyundai Kona electric, same thing. When we leased a Hyundai Ioniq electric, same thing. I just got a quote on a VW ID.4 lease and they reduced the CC by $7500

 

Right, you'd have to buy the car rather than lease it in order to be able to claim the $7500 credit when you file, assuming that your tax situation in the purchase year is such that the full credit could apply. So apparently, for the moment, leasing the Ionic 5 is not cost advantageous.