We’ve been hyping up the Hyundai Ioniq 5 N from the start. With 601 horsepower on tap, it’s essentially an electric supercar at an accessible price, and now that price is even more accessible, thanks to some attractive incentives being offered through October. Check it out…
You Can Lease The Ioniq 5 N For Just $699 A Month
Hyundai has a few offers available for the Ioniq 5 N right now, but our favorite is a $699-per-month lease deal. Here’s what you need to know on that one.
- $699 per month for 36 months.
- $4,999 due at lease signing.
- Option to purchase at lease end for $32,006 plus $300 purchase option.
- Qualified customers only.
- Annual limit of 10,000 miles.
- Deal expires November 2, 2026.
If you want to buy the car once the lease is up, 35 payments of $699 (the first one is included in the signing costs) will add up to $24,465, and then we can add all our other costs, and here’s what we get.
35 Monthly Payments
$24,465
Purchase Price
$32,006
Purchase Option
$300
Due At Signing
$4,999
Total
$61,770
So we’re looking at a total purchase cost of $61,770, before we add in financing, titling, and so on. That’s not a bad deal, considering the initial MSRP of $59,900.
The “qualified customers only” clause is very important here. Not everyone will be able to lease this car at just $699 a month. But if Hyundai is offering a deal like that to the most-qualified lessees, that means the rest of us can probably claim a fair break, too.
But the lease isn’t the only way Hyundai is slashing the price of entry – and the second option could save you a fair chunk, too.
1.99% APR Could Save You $6,700 In Interest
2025 Hyundai Ioniq 5 N side angle in blueHyundai
The lease deal may be the most accessible way to get behind the wheel of an Ioniq 5 N right now, but qualified buyers can save nearly $7,000 with this offer.
- 1.99% APR financing for up to 60 months.
- The deal applies to all trims, not just the N.
- Qualified customers only.
- Offer is good until November 2, 2026.
- Offer may not be combined with other special offers.
At a national average APR of 6.3%, a 60-month loan should cost us around $9,679 in interest, assuming 6% sales tax and a $6,000 down payment. This would give us a monthly bill of $1,120 for a total purchase cost of $73,174.
At 1.99% APR, that same deal has us paying just $2,955 in interest. Our calculations put the total cost at $66,450, with monthly payments of $1,008.
Many Will Enter, Few Will Win
The Hyundai Ioniq 5 N’s drift mode will shred tires like a real muscle car.Ian Wright/CarBuzz/Valnet
As with the lease deal, the key phrase here is “qualified customers only.” If you’ve got immaculate credit, this is the deal for you. Most buyers will fall well short of Hyundai Motor Finance’s exacting standards, failing to qualify for the 1.99% APR offer. Thankfully, Hyundai does have a backup plan in the form of a $3,000 discount for everyone else. Here’s how that offer breaks down.
- $3,000 total savings on any Ioniq 5 when financing through HMF.
- Cash must be applied as a down payment.
- Not all customers will qualify.
- Offer may not be combined with other incentives.
- Deal expires November 2, 2026.
It’s not a $6,700 discount, but we’re not complaining about $3,000 in our pocket.
Hyundai does note that “not all customers will qualify,” but there’s no mention in the fine print of “extremely qualified buyers”. So, we have to assume that’s more of a disclaimer than a promise that you need perfect credit for this one.
Used Prices Are Coming Down Fast
The Ioniq 5 N is still a relatively new car, with just two model years on the road. But, the 2025 model is already trending at just $50,255 from an MSRP of $66,100, according to our price-tracker. This comes out to a savings of 24% on a car that’s barely cut its teeth.
CarEdge predicts that an Ioniq 5 N will be worth around half its MSRP after five years on the road, which isn’t surprising given how fast EVs depreciate. Still, we’re not sure if we want to wait that long. For the time being, saving $15,845 on last year’s model sounds more than fair.
Low-Mile Listings Are Easy To Find
The Hyundai Ioniq 5 N’s drift mode will shred tires like a real muscle car part 2Ian Wright/CarBuzz/Valnet
Checking out the used market, we were able to turn up the following listings.
- A 3,755-mile 2025 model is selling for $52,990 in Ohio.
- A 1,127-mile 2025 model is selling for $53,299 in Nevada.
- A 23,976-mile 2025 model is selling for $41,524 in Illinois.
- A five-mile 2026 model is selling for $65,418 in Ohio.
- An 18,373-mile 2025 model is selling for $43,004 in Georgia.
Note that these listings are provided only to give you an example of what’s out there. There’s no telling what will be available in your area, and in your price range, when you’re ready to buy.
You can save anywhere from $10,000 to $17,000 or so on a very low-mile 2025 Ioniq 5 N at the moment. You don’t get the new car smell, but if you don’t qualify for 1.99% APR or that $699-per-month lease deal, you’ve got a solid plan B to fall back on.
Sources: Hyundai, CarEdge.
