Hyundai Slashes Ioniq 5 N Lease Price, But You Better Hurry

- The Ioniq 5 N lease price dropped from $899/month to $699, with $4K due at signing.
- The new offer is available for a limited time, with no change to the down payment.
- Hyundai is clearing out existing Ioniq 5 N inventory before the 2026 model release.
Given the performance of the Hyundai Ioniq 5 N, affordability might not be the first thing that comes to mind. However, it’s now cheaper to lease in the States than before, as Hyundai prepares for the 2026 model release and works to clear out existing inventory, even though no major changes are expected.
Read: Hyundai Ioniq 5 N Owners Report Dangerous Acceleration After Software Fix
Leasing the Ioniq 5 N had previously been quite expensive, with monthly payments set at $899 for 36 months, plus a $3,999 down payment due at signing before taxes and delivery fees. This brought the effective cost to about $1,010 per month. That’s an eye-watering amount, and nearly double some of the lease deals we’ve seen for the Lucid Air in recent months.
Now, Hyundai has slashed the Ioniq 5 N lease to $699 per month for 36 months, keeping the $3,999 down payment at signing. This offer kicked in on May 9 and will run until June 2, so you’d better hurry if you’re interested.
From what we learned, Hyundai achieved this drop by cutting the Money Factor (the interest rate used to calculate the rent charge) to .00017 for 24-month/12,000-mile leases and .00016 for 36-month/10,000-mile leases, while also inflating the residual values (the car’s expected value at the end of the lease) to 52% and 45%, respectively.
For the 36-month/10,000-mile option with the down payment, the effective monthly lease comes out to $810 before taxes and delivery fees. If you opt for a zero down payment, the total rises to $848.17 due to the higher interest rate. Hyundai also offers a purchase option at the end of the lease for $32,484, plus an additional $300 fee.

Other Options
While this deal might be too good to refuse for some, it’s worth keeping in mind that Kia is gearing up to launch its facelifted EV6 GT, and it features many of the same features as the Ioniq 5 N. In addition to rocking the same basic dual-motor powertrain, it has been updated with the same Virtual Gear Shift function as the Hyundai and promises an ICE-inspired soundtrack, too.
If you’re looking to buy, the Ioniq 5 N starts at $67,675. On one hand, that’s fairly reasonable for an electric vehicle that offers practicality alongside supercar-level performance. On the other hand, it’s still significantly more expensive than the Tesla Model 3 Performance, which starts at $54,990.
Review: What’s It Like Living With The Hyundai Ioniq 5 N?
Plus, if you go for colors like Stealth Grey, Pearl White, or Deep Blue metallic, the flagship Model 3 qualifies for the $7,500 federal tax credit, bringing the price down to $47,490 before taxes and fees. Something to keep in mind.
That said, for those looking for an EV that prioritizes driver involvement in a way no other competitor currently does, the Ioniq 5 N remains a solid choice. With up to 641 horsepower, it can go from 0 to 62 mph (100 km/h) in just 3.4 seconds, and it even allows you to adjust the power split between the front and rear wheels for a truly customizable experience.












