Hyundai Ioniq 5 lease rates rise slightly in September
The Hyundai Ioniq 5 remains one of the most affordable EVs in the US, with September lease deals starting at $319 per month.
The Hyundai Ioniq 5's lease price increased by $10 this month, but the electric SUV continues to offer strong value. September deals include 0% APR financing and discounts of up to $5,000.
Current offers and pricing
For September 2026, Hyundai is presenting buyers with multiple purchase and lease options. The 0% APR financing is available for loan terms of up to 72 months, with no payments required for the first 90 days. Alternatively, the automaker is offering a discount of up to $3,000 on purchases.
Lease terms vary by location. In California, a 24-month lease starts at $329 per month with $4,999 due at signing, and customers may qualify for an extra $3,500 MyFirstEV discount. Outside California, leases start at $319 per month for 24 months with the same amount due at signing, representing total potential savings of up to $5,000.
| Model & Trim | Starting Price | Lease Offer (24 mo) | Due at Signing | Effective Monthly Cost |
|---|---|---|---|---|
| Hyundai Ioniq 5 | $35,000 | $319 | $4,999 | $527 |
| Hyundai Ioniq 5 SE RWD | Not specified | $329 | $4,999 | Not specified |
The South Korean-made Hyundai Ioniq 5, a crossover SUV first launched in 2021, has a base price of $35,000. This follows a price cut of nearly $10,000 on some trims implemented after the federal EV tax credit expired in September 2025.
Comparison with rival EVs
The report compares the Ioniq 5's value proposition against several competing electric models. The comparison focuses on lease costs and effective monthly rates, which factor in the upfront payment.
| Competitor Model & Trim | Starting Price | Lease Offer | Term | Due at Signing | Effective Monthly Cost |
|---|---|---|---|---|---|
| Toyota bZ XLE | $34,900 | $449/mo | 36 mo | $3,970 | $559 |
| Toyota bZ XLE Plus | Not specified | $459/mo | 36 mo | $3,999 | Not specified |
| Tesla Model Y RWD | Not specified | $499/mo | 36 mo | $4,195 | $615 |
| Kia EV3 Wind FWD | $34,990 | $349/mo | 36 mo | $3,999 | $460 |
The Toyota bZ, which was the fourth best-selling EV in the US for the first half of 2026, has a higher effective lease cost than the Ioniq 5. The report notes that the Kia EV3 Wind has a lower effective monthly rate but concedes the Ioniq 5 is a larger vehicle with faster charging capability and more interior space.
Sales success and model details
The Ioniq 5 was the best-selling electric vehicle in the United States in the first half of 2026, excluding models from Tesla. Its popularity is attributed to the value it offers. For buyers seeking more range, the Ioniq 5 SE RWD trim is available for a lease payment of $329 per month. This model has an EPA-estimated range of up to 318 miles, a significant increase over the Standard Range model's 245 miles.
Electrek's analysis concludes that even with the slight monthly increase, the Ioniq 5 lease remains a compelling deal in the current market.
