Hyundai’s electric SUV is still one of the most affordable EVs available, starting at $35,000. The IONIQ 5 is a bit more expensive to lease this month, but it’s hard to pass up with 0% APR financing or up to a $5,000 discount.
Hyundai IONIQ 5 September deals and discounts
The IONIQ 5 has remained one of the most popular EVs, largely thanks to the value that it offers. In the first half of 2026, the Hyundai IONIQ 5 was the best-selling electric vehicle in the US outside of a Tesla model.
After the $7,500 federal EV tax credit expired last September, Hyundai responded by cutting prices on the 2026 IONIQ 5 by nearly $10,000 on some trims.
The 2026 Hyundai IONIQ 5 starts at $35,000, making it one of America’s most affordable electric cars, alongside the new Chevy Bolt EV, Nissan LEAF, Toyota bZ, and now, the Kia EV3.
When it comes to deals and discounts, Hyundai beats the competition. The IONIQ 5 is available this September with 0% APR financing for up to 60 months, plus 0 payments for 90 days. Or, Hyundai is offering up to a $3,000 discount.
2026 Hyundai IONIQ 5 (Source: Hyundai)
In California, leases start at $329 per month for 24 months with $4,999 due at signing. You may be eligible for an additional $3,500 MyFirstEV discount.
Outside California, Hyundai is offering up to $5,000 in total savings, with leases starting at $319 for 24 months and $4,999 due at signing. While it’s $10 more per month than in August, the IONIQ 5 is still hard to pass up.
Hyundai IONIQ 5 interior (Source: Hyundai)
The 0% APR financing offer is available for up to 72 months, and you still get 0 payments for 90 days.
You may be better off upgrading to the IONIQ 5 SE RWD, which costs just $10 more per month at $329. The Hyundai IONIQ 5 SE RWD model offers an EPA-estimated range of up to 318 miles, compared to just 245 miles for the Standard Range model.
2026 Hyundai IONIQ 5 TrimDriving Range (miles)Starting Price*2026 Monthly Lease Price in SeptemberIONIQ 5 SE RWD Standard Range245 miles$35,000$319IONIQ 5 SE RWD318 miles$37,500$329IONIQ 5 SEL RWD318 miles$39,800$369IONIQ 5 Limited RWD318 miles$45,075$459IONIQ 5 SE Dual Motor AWD290 miles$41,000$379IONIQ 5 SEL Dual Motor AWD290 miles$43,300$419IONIQ 5 XRT Dual Motor AWD259 miles$46,275$459IONIQ 5 Limited Dual Motor AWD269 miles$48,975$5092026 Hyundai IONIQ 5 prices, range, and monthly lease price by trim (*Does not include $1,600 destination fee)
How does it compare to the 2026 Toyota bZ? Toyota’s updated electric SUV was the fourth best-selling EV in the US in the first half of the year, one spot behind the IONIQ 5.
The 2026 bZ starts at $34,900. Toyota is currently offering 1.49% APR for up to 72 months, while the 2026 bZ XLE is listed for $449 a month for 36 months with $3,970 due at signing.
Toyota bZ (Source: Toyota)
Like the IONIQ 5, if you want more range, it may be worth upgrading to the XLE Plus, available for $459 a month for 36 months with $3,999 due at signing. The XLE Plus offers up to 314 miles of range, compared to 236 miles for the standard version.
With an effective cost of $559 per month, the bZ is more expensive to lease than the IONIQ 5 at an effective rate of $527 per month.
Toyota bZ interior (Source: Toyota)
Even compared to the Tesla Model Y, the IONIQ 5 looks like a deal. The base Tesla Model Y RWD is available to lease starting at $499 per month. The offer is for 36 months with $4,195 due at signing for an effective cost of $615 per month. The Tesla Model Y RWD has up to 321 miles of range.
How does it stack up to the new Kia EV3 (shown below)? The 2027 Kia EV3 Light starts at $29,890 and offers up to 221 miles of range. The EV3 Wind, with up to 321 miles of range, starts at $34,990.
The Kia EV3 Wind FWD is now available to lease for $349 per month. The offer is for 36 months with $3,999 due at signing for an effective rate of $460 per month, which is cheaper than the IONIQ 5, but keep in mind the IONIQ 5 is bigger, charges faster, and offers more interior space.
Which EV are you choosing? Drop your pick in the comments below.
Wondering what one would cost near you? The links below can show you nearby inventory and any local deals worth a look.
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