Hyundai Ioniq 5 on long-term rental at 300 euros per month, good or bad deal?

Futuristic look, enough autonomy, convincing dynamic characteristics… There’s no shortage of superlatives to qualify the Hyundai Ioniq 5, and when it’s on display from 300 euros a month, there’s a good chance the case isn’t too bad.

In the world of electric cars, the Hyundai Ioniq 5 is certainly one of the most aesthetically outstanding. With its air of futuristic cars, the Ioniq 5, the technical cousin of the Kia EV6, plays the modernism card on almost every level. Hyundai has recently made it a specialty, notably with the arrival of the Ioniq 6, which also aims to be futuristic without being too divisive.

Even if it evolves a little in the shadow of the Kia EV6, the Hyundai Ioniq 5 does not lack advantages and, when in addition the Korean manufacturer offers a financing offer from 300 euros per month, there is something to be interested in. So is this funding a good deal? Is this really worth it? Does it meet your needs? That’s what we’re going to find out in this article.

The Hyundai Ioniq 5 offered at 300 euros per month

As with most “starting at” financing offers, this is the basic model. At Hyundai, it’s the “Intuitive” trim level that takes on that role, and as you can see from the main equipment list below, it’s pretty complete for an entry-level model.

  • LED headlights
  • Automatic lighting of lights
  • Electric and heated mirrors
  • Electrically folding mirrors
  • Intelligent adaptive cruise control
  • Active Lane AssistAutonomous emergency braking with pedestrian detection
  • smart speed limiter
  • Autonomous emergency braking with intersection functions
  • Front and rear parking aid
  • Active lane keeping assistant
  • Active driving assistance on the highway
  • rain sensor
  • e-Call emergency call
  • perimeter alarm
  • Battery preconditioning system
  • electrically controlled transmission
  • athermic windshield
  • Tinted rear windows
  • Two-zone automatic climate control
  • 12.3 inch digital counters
  • driving mode
  • Hands-free access system and keyless start
  • fabric upholstery
  • Navigation system in Europe with 12.3-inch color touchscreen, compatible with Apple Carplay and Android Auto, with Bluelink and Hyundai Live connected services
  • Steering wheel audio controls
  • Bluetooth connection

The Hyundai Ioniq 5 offers two other trims above (“Creative” and “Executive”), but they are not affected by this €300 per month offer. These finishes incorporate some interesting elements, but not necessarily the most essential ones, such as the panoramic sunroof, the 20-inch rims or the V2L connection.

For a base model, the Ioniq 5 in the “Intuitive” finish is quite well equipped, especially since, for the first time, the free base color is not white, but a rather pleasant blue, dubbed “Lucid Blue”. The rims are from the start at 19 inches.

At this price, it’s the Hyundai Ioniq 5 with its battery with a gross capacity of 58 kWh and its autonomy 384km according to the WLTP cycle. To achieve a range of 507 km you should aim for the 77 kWh battery, but prices are logically rising and we are moving out of the financing offer. The model that interests us is equipped with an electric motor of 125 kW (170 hp)against 168 kW (229 hp) for the largest battery.

The interior of the Hyundai Ioniq 5 at 300 euros per month

What are the conditions to qualify for the Hyundai Ioniq 5 LLD offer?

This is a long-term rental offer in 37 months and 10,000 kilometers per year, that is, 30,000 km in total. Hyundai indicates that the offer of 300 euros per month is subject to a contribution of 6,700 euros, after deducting the ecological bonus of 6,000 euros. Without the bonus, the contribution would be 12,700 euros.

From next year, the maximum bonus will increase to 5,000 euros and the supply of finance will certainly change. The models in question should therefore be available before the end of the year, so it will likely be a stock model.

How much will the Hyundai Ioniq 5 LLD cost?

More than three years of long-term rental, your Ioniq 5 will cost € 17,500. Hyundai displays its car from 46,500 euros on its website, ecological bonus of 6,000 euros not deducted. This gives us, once deductions have been made, a model displayed at list price in € 40,500.

From this price, you will pay during the three years of the rent 43.2% of the price of your car. This is more than the discount over three years for this type of car, especially for electric cars where demand continues to increase, thus implying a certain price stability. As the offer is not an LOA, there is no option to repurchase the vehicle. It will therefore be necessary to return the car at the end of the financing.

Beware of repair costs, these can be high at the time of return. We advise you to do this first at a bodybuilder, as it will cost you less than at your dealership in general. If you take a vehicle back to your dealer after your LLD, they will also be a little less careful about repair costs.

The Hyundai Ioniq 5 and its V2L charging system

Should we favor LLD or classic credit?

Rare are customers who buy their new car in cash. About 80% of new cars purchased are financed today, either by leasing or by traditional credit. And precisely, compared to a classic credit, is LLD more interesting?

Even though the rates have increased a lot in the last few months, they remain quite interesting, especially if you buy an electric car. For example, at Crédit Agricole Île-de-France, thanks to the “Green Vehicle Loan” and its 1.92% APR, there is a way to get attractive monthly payments given the price of the car.

A few weeks ago we completed the financing process for the new MG4 by integrating the “Green Vehicle Loan” offer with an APR of 1.49%. Contacted by us, Crédit Agricole confirmed to us that it has increased rates on some projects, including this one since 11/10/2022 (+0.42 points across all loan durations). However, the offer remains advantageous: 1.92% from 12 to 84 months and no administration fees.

Thus, funding € 33,800 (ecological bonus of 6,000 euros deducted and with a contribution, like the LLD, of 6,700 euros), still over 48 months, we arrive at monthly payments of € 731.82, without insurance. The total amount due is € 35,127.41the credit will therefore have a cost to you € 1,327.41.

Note that Crédit Agricole is not the only bank offering this type of electric car loan. For example, at the national level, the CIC offers a rate of 2.15% for the financing of a zero-emission car. The CIC has also recently increased its rates, as a few weeks ago it was at 1.75%.

things to remember

As can be seen, from a purely financial point of view, conventional credit at a bank, in this case Crédit Agricole and its “Green Vehicle Loan” offer, is not necessarily the best solution, at least in the short term. Indeed, monthly payments are almost double compared to LLD offered by Hyundai.

Hyundai Ioniq 5 LLD classic credit
Bring € 6,700 € 6,700
maximum mileage 30,000 km
Duration 48 months 48 months
monthly payments 300 euros € 731.82
financing cost € 1,327.41
Total cost € 17,500 € 41,827.41

The difference can only be explained by the fact that with a classic loan, you finance the whole car and, at the end of 48 months, this one belongs to you. And you have no mileage limit. When it comes to LLD, you are really only paying for part of the car and at the end of the four years you have to return the car and pay a fee if you go over the mileage limit.

Even though all monthly payments generally correspond to the natural discount of a car, this solution is only interesting if you want to change cars regularly paying part of the car, without worrying about the resale at the end, as you will have to return it.

LLD is interesting if you don’t have much visibility on the used car price and you already know you are going to resell it. With this type of financing, you know in advance the total cost of ownership of your vehicle.

On the other hand, cash or credit, you cannot know this price as it will depend on the resale value. However, demand for electric cars is increasing, prices should not discount as quickly as a thermal modelmainly with restrictions on the circulation of certain old diesel and gasoline in certain agglomerations.

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