Hyundai IONIQ 5 N - am I mad?
Discussion
Hi all,
Current owner of the new gen M240x and long-time 6 cylinder motor addict, however, a number of reasons are making me consider my first EV. I *really* like the look of the IONIQ 5 N, even if 650ps in a hatchback is totally ludicrous.
Context - I'm a private buyer and can't take advantage of a company salary sacrifice scheme (my London based company acts like employees don't drive), so this purchase will be more expensive for me, hence trying to make this purchase pragmatically.
I've spoke to a local dealer today and I have some thoughts I'd appreciate your input on:
1. Just released / available to order for circa April delivery @ £65K. This is a lot of money regardless of car, but if you'd have said a few years back I'd be considering a 65K Hyundai, I'd have laughed out loud. This a halo car and deals are zilch at the moment. Saw 0% finance deals on IONIQ 5 range but confirmed today this model isn't included in that deal but still offers "competitive" 8.9% APR. No thanks.
Do you envisage good deals 6M - 12M into lifecycle much like you see across other brands / models? Look at Kia's EV6 GT (circa 600 BHP) - high list price but now we're seeing some very good deals on price savings / low APR finance. New Polestar 2 the same, which gives me hope.
2. Second had values for this model - risky? Tied into agreement when market is in flux. It's unknowns relating to point 2 that have me concerned, whereas traditional German stuff you know where you stand.
3. Do you think this will remain a niche car / lower than expected sales? I'm hoping this will encourage Hyundai UK to put some incentives behind it, at which point I'd be legging it down to place an order. I just can't work out if that's likely to happen or if I'll still be waiting in a year thinking I should have just gone ahead and ordered.
4. Is anyone else considering buying the Ioniq 5 N? Appreciate many will say "for that £ you could have XXX" but I've had multiple German cars and fancy a change.
Cheers.
M
Current owner of the new gen M240x and long-time 6 cylinder motor addict, however, a number of reasons are making me consider my first EV. I *really* like the look of the IONIQ 5 N, even if 650ps in a hatchback is totally ludicrous.
Context - I'm a private buyer and can't take advantage of a company salary sacrifice scheme (my London based company acts like employees don't drive), so this purchase will be more expensive for me, hence trying to make this purchase pragmatically.
I've spoke to a local dealer today and I have some thoughts I'd appreciate your input on:
1. Just released / available to order for circa April delivery @ £65K. This is a lot of money regardless of car, but if you'd have said a few years back I'd be considering a 65K Hyundai, I'd have laughed out loud. This a halo car and deals are zilch at the moment. Saw 0% finance deals on IONIQ 5 range but confirmed today this model isn't included in that deal but still offers "competitive" 8.9% APR. No thanks.
Do you envisage good deals 6M - 12M into lifecycle much like you see across other brands / models? Look at Kia's EV6 GT (circa 600 BHP) - high list price but now we're seeing some very good deals on price savings / low APR finance. New Polestar 2 the same, which gives me hope.
2. Second had values for this model - risky? Tied into agreement when market is in flux. It's unknowns relating to point 2 that have me concerned, whereas traditional German stuff you know where you stand.
3. Do you think this will remain a niche car / lower than expected sales? I'm hoping this will encourage Hyundai UK to put some incentives behind it, at which point I'd be legging it down to place an order. I just can't work out if that's likely to happen or if I'll still be waiting in a year thinking I should have just gone ahead and ordered.
4. Is anyone else considering buying the Ioniq 5 N? Appreciate many will say "for that £ you could have XXX" but I've had multiple German cars and fancy a change.
Cheers.
M
Edited by MCarpentier1 on Monday 15th January 11:33
Edited by MCarpentier1 on Monday 15th January 11:33
Edited by MCarpentier1 on Monday 15th January 11:35
Thanks for the reply guys. You're confirming what I knew to be true but been trying to convince myself otherwise!
If I wait until September 24 at least, hopefully we'll see pre-registered cars with an significant price reduction or at least deals to be had. Appreciate waiting even longer would be better.
I'm most cautious about purchasing a high price Hyundai new and the values sinking second hand, so I can see it's financially prudent to let someone else take the hit.
I'll be going to see it as soon as the demo is available in the next couple of months. The salesman said we'll review deals then, so let's see if it's worth green lighting now or waiting. Regardless, it's highly likely you'll see pictures of an IONIQ 5 N at some point in 2024.
If I wait until September 24 at least, hopefully we'll see pre-registered cars with an significant price reduction or at least deals to be had. Appreciate waiting even longer would be better.
I'm most cautious about purchasing a high price Hyundai new and the values sinking second hand, so I can see it's financially prudent to let someone else take the hit.
I'll be going to see it as soon as the demo is available in the next couple of months. The salesman said we'll review deals then, so let's see if it's worth green lighting now or waiting. Regardless, it's highly likely you'll see pictures of an IONIQ 5 N at some point in 2024.
J1990 said:
I'm really hoping something promising is offered on the financing from these. My local dealer has done me some cracking deals on our last 3 Hyundai but at the moment the best he could offer me was £15k deposit and £870/month for 3 years (12k miles/year). Whilst finance costs are high at the moment and the car does have a lot of performance to offer, £46k to 'rent' the car for 3 years is madness.
That's inline with what I'm being quoted. You can play around with the figures on the Website looking at different variables but you can't get around the fact there's no dealer contribution and the APR is high compared to rest of range. All I need to see is a few £1000 off like you see on new Kia EV6 GT's (Autotrader) + ideally 2.9% like Kia is offering and I'll press go. 0% would be even better!
Gassing Station | EV and Alternative Fuels | Top of Page | What's New | My Stuff