Test drove the Ioniq 5..

Discussion in 'Hyundai Ioniq 5' started by FloridaSun, Jan 14, 2022.

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  1. FloridaSun

    FloridaSun Well-Known Member

    So, I was very serious getting an Ioniq 5 for the wife. She currently has a BMW i3 that just came off warranty, so I want to get a new car for her.
    Called a lot of Hyundai dealers the check prices and most of them had $1500 to $3000 mark ups. Inquired at Ocala Hyundai and got a call from a lady in the internet sales deparment. I asked her about the price and I asked if the listed MSRP price is the sales price and she confirmed. We agreed that she will notify us once they had one in stock to take the car for a test drive. So, last afternoon, they let us know that they had one and I scheduled for 10 am today to go for a test drive. The dealership is 1 hour and 20 minutes north of me, so we went right after dropping off the kids at school. We got there and after a few minutes, we got to test drive an Ioniq 5 SEL, matte grey with light gray/green interior. Very nice car. Also drives very nice with plenty of interior and cargo room. After matching up my wife with the color combo she wanted we went to do the paperwork. I couldn't believe my eyes... the car was marked up from MSRP $47500 to over $61000.. What a joke! $61k for a Hyundai? WTF.. What a waste of time due to false information on the car's price.. Still, fantastic car and great value at MSRP.. The car is nice and drives nice and has plenty of space but certainly not $60k nice. Will shop around at other dealers and if I can't get one at MSRP, I'll order another Tesla for the wife, probably Model 3.

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  3. insightman

    insightman Well-Known Member Subscriber

    Does this lady work from home in India and have no actual information about what MSRP means? Could you have purchased the car from her before you left home? Clearly, her sole job was to convince you to drive 80 minutes to visit her employer's showroom. At least you got a test drive, which most of us have not.
    navguy12 and StubbyStan like this.
  4. SkyShotEV

    SkyShotEV Member

  5. FloridaSun

    FloridaSun Well-Known Member

    Lady actually works there locally. Met her when I got there.. I don't know if I could have purchased from her over the phone or internet.. So far, the lowest mark up I have found is $1500.. Still, won't pay any mark up.. May order a Model 3 Standard Range Plus for the wife.. white/white like our Model Y LR
    Tony S, GaryClark, StubbyStan and 2 others like this.
  6. SkyShotEV

    SkyShotEV Member

    With warranty how were the maint costs on the i3? In my experience cost for German brands are significant. When I lived there driving both a 323i and 944 (pre-Euro days) the measurement often spoken of was the average Deutch Mark per kilometer it cost to own and maintain. My wife has a sharp Aventurine Red i4 M50 on order and still has the smile as your's did in the photo so my challenge is convincing her gather expectations prior to release, maybe a 2nd or 3rd alternative instead. Interesting that the e-tron is expecting a mid-cycle refresh, I wonder what other brand(s) will consider a move like that. But if you make the purchase she should like that Model 3.
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  8. FloridaSun

    FloridaSun Well-Known Member

    We never did scheduled maintenance.. One warranty repair (dead 12 Volt). Zero issues..
    Tires are pricey and last 20k miles. Car only has 36k miles and is a 2017.
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  9. SkyShotEV

    SkyShotEV Member

    Thanks that's helpful!
  10. If your wife is still hot on the I5 I would just wait a few months. As I am sure you appreciate once there is more floating inventory in the US these "price adjustments" will disappear fairly quickly. Fortunately its less of a big deal up north. I guess, one of rare perks of being in Canadian market, lol.
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  11. FloridaSun

    FloridaSun Well-Known Member

    I'm really the driving force behind getting her a new car.. She really loves her BMW i3...
    There are several reasons why I want to get an Ioniq 5..
    1) I don't want to have any costly repairs on the BMW..
    2) Virtually all trips we take as a family are with my Model Y LR AWD.. I'm putting a lot of miles on my Tesla because her car is little and uncomfortable for the kids in the back and the range of her i3 is only 120 miles. I want to trade in the Model Y once the quad motor Cybertruck becomes available... and if it has tons of miles, I'll get a lot less for it.
    Last edited: Jan 17, 2022
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  13. Jim Matthews

    Jim Matthews Active Member

    Every time this happens customers should send a registered letter to Hyundai (or KIA) corporate naming the dealership, the VIN and the quoted price gouge.

    Any dealership that accepted PPP money from us (the taxpayers) should be penalized an amount equal to the Monopoly Squeeze.

    It's outrageous.
  14. GringoViejo

    GringoViejo New Member

    Just want to offer my $0.02 here.

    Apart from the long wait between ordering and delivery, the whole experience of buying a Tesla has been painless, and especially with stories like yours, I just can't see buying anything from a conventional car dealer again.

    Since you already have a Model Y, the Model 3 should be a no-brainer; it will certainly be an improvement over the i3. Please post about the Cybertruck after you get it.

    I took delivery last week of a Model Y I ordered in August. It's great, but I find the Model 3 (2019 SR+) more fun to drive, even if it's not quite as fast. The Model Y is bigger than I'd like for city parking, etc., but it is definitely quieter and easier to get in and out of than the Model 3.

    Teslas may not be for everybody, and we still don't know if the tax rebates will be restored, but the Model Y seems to be worth more as a used car on Craig's list than I paid for it. And, did I mention: 2.49% financing through Tesla.

    Of course, YMMV.
    Last edited: Jan 19, 2022
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  15. NRH

    NRH Active Member

    Fwiw, our dealership in Bangor Maine called me about the Ioniq5, and said they are not pricing anything over msrp.
  16. Domenick

    Domenick Administrator Staff Member

    A friend's dad -- InsideEVs Podcast regular, Kyle -- just went through a similar ordeal. Was assured there was no markup, so drove 3 hours to try out a rear-drive version and then was a told, by a different dealership employee, it was thousands above MSRP.
    He was unhappy and made a video telling the story which got a lot of views. The dealer got back in touch and offered him the original deal, but he turned them down on principle. But then, besides harassing calls, messages, the dealer got a death threat so they removed the video from YouTube.

    Anyway, maybe we should make a new thread listing dealers selling at or below MSRP.

    Wish I could add my local dealer, but they have a $5,600 upcharge they call "Werner Care," instead of the more blatant "market adjustment." They include a number of extras you probably don't need/want worth, they say, $8,000 to make it at least seem like you're getting something for the extra money.

    I plan to go over and take a test drive and see if you can buy without the "Werner Care" package, but I strongly suspect not. It's added to every model on their site.

    Tony S, SkyShotEV, navguy12 and 2 others like this.
  17. You realize with Tesla there is no $7500 tax credit, so that is a huge financial hit you are willing to take.

    We have ZERO mechanical issues with a 30 month i3. Not at the dealer ever other than scheudled and free maintenance. We now have a Mini SE and it has also been perfect.

    Yes, I only got 15K max from my tires!
  18. Domenick

    Domenick Administrator Staff Member

    Hey, @NRH, if you can tell me the name of the dealer, I'll it it to kick off a new thread of dealerships not charging above MSRP. That could be helpful to new buyers.
    Tony S, Jim Matthews and Kirk like this.
  19. Also, check with the Florida attorney general. This may qualify for a lawsuit.
  20. Zoe N

    Zoe N New Member

    Notwithstanding the fact that 61k is a lot/too much, it’s quite possible that was msrp for that particular vehicle, which was likely fully loaded with all the extras. It was matte grey, for starters, which on its on is a 1k markup (msrp markup not dealer markup), and matte grey is only available on the high end models with all the bells and whistles, not available on base model. I had priced out that loaded model myself online a few weeks ago and came to 61k. So I don’t think it was the dealers markups, but they should have informed you it was the fully loaded model they had in stock anyway since the price difference is quite a lot.
    Last edited by a moderator: Jan 19, 2022
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  21. Long time lurker, first time poster. I have learned a lot here.

    Long story short…Currently driving a 2021 Kia Niro EV EX…My first EV to see if it was for me. I got a great lease deal last summer with $11,000 lease cash. The vehicle far exceeds my expectations, I am all in and now want it all but, for various reasons, not a Tesla. It’s going to be between an IONIQ 5 Limited AWD or EV6 GT AWD. I’d be happy with either; however, the full panoramic roof & offbeat styling of IONIQ 5 appeals slightly more to me but, I keep going back and forth.

    Since the IONIQ 5 is here first, I started making the calls to dealers showing stock/in-transit. Haven’t found one in the State of Florida that is willing to sell at MSRP - Sticker Price. All have various markups, dealer added addendums, market adjustments etc.

    Here is the most egregious of buffoonery…can’t Cocoa Hyundai with a whopping $10,500 market adjustment plus the balls to add a doc fee of $999, filing fee of $199, crazy plate transfer fee of $399 & GAP insurance for $999 for a grand total of $71k!!!

    I like the idea of a separate thread for a list a dealers willing to actually sell vehicles at a fair price. I am looking for any dealer in the state of Florida within a 200 mile radius of Orlando.
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    Last edited: Jan 19, 2022
  22. navguy12

    navguy12 Active Member

    A.k.a “the bait and switch”.
    electriceddy likes this.
  23. Stevewallace

    Stevewallace New Member

    If you had followed Scotty the mechanic on YouTube, you would know about markup. Because of the supposed chip shortage and inflation, there is not one car in North America that does not have a sharp markup. It is also why used car prices are 47% higher than last year, followed closely by new car prices. You won't purchase a vehicle over markup above MRSP? Then expect not to purchase a vehicle, because it is happening all over...
    amigajoe likes this.

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