Trade In Value Trajectory

K

KonaScot

Active Member
Our Kona Ultimate is coming off lease shortly and we're thinking of buying (not leasing) an Ioniq 5. What are (US, NY Metro area specifically) people seeing as the trajectory of trade-in values since mid-year (we got a "trade in value as high as $34,900" flyer from the dealer in August, noting our low mileage).

This particular car has no cosmetic or mechanical flaws, no accident history, new battery as of a year ago, etc. etc.

Seems trade in prices may be down a bit but traffic in the dealership is strong. Edmunds is showing about $31,000 for trade in, Kelly about $29,000.

Since an Ioniq 5 may not be delivered for a few months the dealer is hesitant about a "today" trade in value as that could be down (or up) near delivery.

What's the thought on this?
 
Sorry, don't know what KMFUSA is. I'm asking about straight trade-in pricing, assuming that I buy out the lease and trade it in.
 
HMFUSA is the captive lender for Hyundai/KIA/Genesis.

If you leased your Kona, that's who you pay each month.

You *should* have an account number which can be searched to find your payoff amount.

If you don't know that number, your dealership will use that to your disadvantage.

While I don't know the mechanics of the contract, any equity in a lease is lost (to you) unless you exercise your right to purchase at the agreed residual price.

You don't need a dealership to process this - at any cost - through HMFUSA.

https://www.hmfusa.com/
 
I know what Hyundai Finance is Jim. You didn't type HMFUSA. You typed KMFUSA, something I don't recognize.
And I know the payoff amount. Buying out the car isn't an issue. What I get in trade after I buy it out is the basis for my question.
Thanks for your responses but you're responding to something I'm not asking
 
My local dealer (Valley Stream, NY) sent me a flyer offering $34k for my 2019 (12k miles). Was pretty excited by that, so I went in with the flyer and spoke to the guy who is specifically in charge of buying used cars for the dealership. He pretty much laughed the flyer off. "That's just marketing" he said, and offered me $25k.
 
Just put down a deposit on an Ioniq 5, "trading in" the leased Kona EV that we've loved. Can't wait for the new car in about 3 weeks. Thanks to all on this forum for helpful tips and news about the Kona over the last 3 years.
 
KonaScot said:
Just put down a deposit on an Ioniq 5, "trading in" the leased Kona EV that we've loved. Can't wait for the new car in about 3 weeks. Thanks to all on this forum for helpful tips and news about the Kona over the last 3 years.
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You're getting a great vehicle to replace your Kona. Are you going to change your InsideEVs handle? I stuck with my old @insightman even after we got our Clarity PHEV and I'm still using the same @insightman handle and Clarity avatar even though the car I now drive the most is a wonderful MINI Cooper SE. Guess I can't let go of the past.
 
KonaScot said:
Just put down a deposit on an Ioniq 5, "trading in" the leased Kona EV that we've loved. Can't wait for the new car in about 3 weeks. Thanks to all on this forum for helpful tips and news about the Kona over the last 3 years.
Click to expand...

Interesting. My Kona lease is up in a couple months and I can't imagine parting with it. It may seriously be the last car I ever own.
 
Well I've driven both and I just hope an Ionic 3 the size of the Kona, with the the economy of the Kona and similar running gear to the Ionic 5 comes out.
The Ionic 5 is too big and too heavy on battery for my taste, I like the rapid charge ability of the Ionic and the towbar compatibility, but when I drove the Ionic its 20kw/100km was at least 5kw heavier than the Kona.
Where I live, with limited charging infrastructure, that was the deal breaker for the Ionic.
I find the Kona magic, if the reduction gearbox doesn't cause an issue, I will have found my perfect car.
I've only done 2,300km, but I'm very impressed, runs great, has great economy and has plenty of grunt.
 
insightman said:
You're getting a great vehicle to replace your Kona. Are you going to change your InsideEVs handle? I stuck with my old @insightman even after we got our Clarity PHEV and I'm still using the same @insightman handle and Clarity avatar even though the car I now drive the most is a wonderful MINI Cooper SE. Guess I can't let go of the past.
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Hadn't given it much thought!
 
Bruce M. said:
Interesting. My Kona lease is up in a couple months and I can't imagine parting with it. It may seriously be the last car I ever own.
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We intended to buy out the Kona lease and keep on with it. But then we drove an I5 and it was impressive: size, AWD, seats automatically adjust, quiet, fast (eg 18 min) charge to 80%, etc. It turned our heads. But we do love the Kona, too.
 
KonaScot said:
We intended to buy out the Kona lease and keep on with it. But then we drove an I5 and it was impressive: size, AWD, seats automatically adjust, quiet, fast (eg 18 min) charge to 80%, etc. It turned our heads. But we do love the Kona, too.
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To each his own. I love the small size of the Kona and wouldn't want anything as big as the Ionic5, though I have no doubt it's a great vehicle. Personally, I actually prefer the looks of the Kia EV6, but that's just a matter of taste.
 
I prefer the looks of the Ioniq 5 over the EV6 but the specialised coolant maintenance requirements of the I5 put me off it, even if it could fit in my tight parking situation.
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KiwiME said:
I prefer the looks of the Ioniq 5 over the EV6 but the specialised coolant maintenance requirements of the I5 put me off it, even if it could fit in my tight parking situation.
View attachment 19358
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Giving those outer PDW sensors a workout every time pulling in or out. Just be careful when the audible warnings get more frequent when "parking by wire";)
 
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