Hyundai IONIQ 9 Lease Effective Cost Hits $557 Monthly

Hyundai’s current lease offers place the three-row IONIQ 9 at a lower effective monthly cost than the smaller IONIQ 5. The IONIQ 9 is advertised from $419 per month on a 36-month term with $4,999 due at signing. This structure results in an effective cost of $557 per month.

The IONIQ 5, which ranked as the third top-selling electric vehicle in the United States through September, starts at $35,250 for the standard-range SE model. The IONIQ 9 starts at $58,955, a difference of nearly $24,000. However, the lease terms narrow this gap. The standard-range IONIQ 5 SE leases for $359 per month on a 24-month term with $4,999 due at signing, creating an effective cost of $567 per month.

If a buyer extends the IONIQ 5 lease to 36 months with the same down payment, the monthly payment drops to approximately $412. This yields an effective cost of $550 per month. That figure is only $7 lower than the effective cost of the IONIQ 9. The extended-range IONIQ 5 SE RWD, priced at $37,750, carries an effective lease cost of $577 per month on a 24-month term.

The IONIQ 9 offers more physical space and range than the IONIQ 5. The base IONIQ 9 has an EPA-estimated range of up to 335 miles, compared to 245 miles for the standard-range IONIQ 5 and 318 miles for the extended-range version. The IONIQ 9 provides six- or seven-seat layouts with up to 163.54 cubic feet of passenger volume. The IONIQ 5 is a two-row vehicle for five people with up to 106.5 cubic feet of volume.

Both models are manufactured at Hyundai’s Metaplant America outside Savannah, Georgia. During a facility tour earlier this year, Hyundai stated that its electric SUVs attract new buyers at a higher rate than its internal combustion models. The IONIQ 5 recorded a 69.8% conquest rate last year, while the IONIQ 9 recorded a 64.3% rate. The Elantra N, Palisade, and Kona Electric followed with conquest rates of 61.9%, 61.2%, and 60.9% respectively.