By on October 8, 2019

There’s a new version of a rarely-seen car coming out for 2020, meaning if you’re living in the right place, and can find one, you may be able to get into a $109/month lease with nothing down. That’s currently the best lease offer in the country. So, what is this low-priced wonder car?

Well, it gets 124 miles to a charge, seats five, and hails from Ulsan, South Korea.

That vehicle is the electric variant of the Ioniq, a compact hatchback most often seen in hybrid or plug-in guise. If you’re living outside a ZEV state, perhaps you haven’t seen one at all. However, if you’re a person of modest means who loves the planet, your chariot may have just arrived.

As reported by CarsDirect, Hyundai aims to clear out a fairly spartan inventory of 2019 Ioniq Electrics before the updated, longer-range 2020 model appears. (It isn’t known how far a 2020 Ionq can go on a charge, but expect a range slightly exceeding that of a base Nissan Leaf).

2017 Hyundai Ioniq Electric, Image: Steph Willems

If you can source an Ioniq Electric, the offer runs to the end of the month. Whereas previously, lessees would be on the hook for $219 a month, the new offer sees EV aficionados pay $109 a month with $2,500 due at signing. And if you’re in California and can get your hands on a Clean Vehicle Rebate, that one-time charge is (eventually) reduced to zero. Even with the Ioniq Electric’s less-than-stellar range, that’s a solid get for a car that starts north of $30k.

Thanks to a bump in factory lease cash, it isn’t just the base model that’s eligible for the lease offer in the Golden State. There’s a Limited to be had, too. Elsewhere, it’s all about that base.

In New York, the lease offer differs, but is no less appealing. For $79 a month and $999 down, residents of the Empire State can get into one of these little electrics for the equivalent of $107 a month. While you won’t make it to Albany on a charge, you can head from the Big Apple to the Hamptons with reasonable peace of mind.

Feeling very much like an Elantra GT with less cargo room, the Ioniq EV scoots around with surprising swiftness thanks to the 218 lb-ft of torque funneling to its low-drag front tires. Expect busloads of squeal if your right foot can’t help but mash the pedal.

[Images: Steph Willems/TTAC]

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24 Comments on “America’s Cheapest Lease: Pay Little, Go a Reasonable (but Not Exceptionally Long) Distance...”

  • avatar

    Damn that’s a good deal!

  • avatar
    SCE to AUX

    I’m not paying anything close to that, but I got my 19 Ioniq EV 11 months ago in MD and brought it to PA. I’ve never seen another one.

    It’s a really wonderful car to drive. I avoided the Limited model because the headroom was cramped for my height due to the sunroof, but the Base trim is fine. The back seat is fine for normal sized passengers. And, the liftback offers a lot of hauling utility.

    I’ve averaged 4.4 mi/kWh since I got it, so in the warmer months I’ve gotten as high as 150 miles range.

  • avatar

    I like the Ioniq hybrid but I wish they had some more colorful exterior offerings. Everything around me is always silver.

  • avatar

    First the article says the cost is “$109/month lease with nothing down”, then later it’s “$109 a month with $2,500 due at signing”. Which is it?

  • avatar

    Sadly, Canadians NEVER get deals like this….EVER!

  • avatar
    CKNSLS Sierra SLT


    I pay almost $600.00/month for healthcare with a $6,000.00 deductible. If I were you I wouldn’t complain too much………..

    • 0 avatar

      As a Canadian I don’t understand how Americans can come up with $6,000 for a medical expense when most of the population is living paycheck to paycheck. How does that work?

      • 0 avatar

        Hospitals cannot deny service to any one by law passed during Reagan administration in 1986. That applies to emergency services. Signs posted in hospitals. Basically hospitals eat the cost. The worst that can happen is that lumpen proletariat pays $20 a month(or whatever they “could afford”) for the rest of their life. It’s the middle class that gets the brunt of it. People lose homes if they can’t pay.

      • 0 avatar
        CKNSLS Sierra SLT


        Statistically-those who declare bankruptcy in the U.S. for medical reasons-have some sort of medical insurance. So there is the answer to your question.

        Our system is broken. I retired early (before 65) so I am stuck with the high monthly cost and the deductible. I could handle the deductible if needed.

  • avatar

    If I can find one (the closest is 268 miles away, in another state), I would lease one of these just to run radical experiments on it, such as trying to reprogram the software and upgrade the hardware to get 300+ miles out of it, and I’d also beat the ever loving sh*t out of it, as a third vehicle.

    • 0 avatar
      SCE to AUX

      I drove 243 miles to get mine, and rented a dolly to tow it home because of the gap in charging stations along the way. It’s my daily driver and our third vehicle.

      In July, I was rear-ended in stop-and-go traffic. Fortunately the independent repair shop fixed it quickly with no problems, despite the rarity of the car. Made me glad I didn’t get the Model 3 I cross-shopped.

      Oh, I’ve found that you actually can get 300 miles out of the Ioniq if you only take downhill trips. :)

  • avatar

    Wow, this sure is tempting. Unfortunately in Maine it would end up costing the $999 at the dealer and then about $900 more in excise tax for the two that are showing as closest to me. Oh well. Good deal for those that can make it work.

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