Hyundai Leases IONIQ 5 From $359 a Month, IONIQ 9 From $419
Hyundai leases the 2027 IONIQ 5 from $359 a month and the three-row IONIQ 9 from $419. How the effective costs compare and when the offers end.
Hyundai is advertising the 2027 IONIQ 5 SE Standard Range for $359 a month and its three-row IONIQ 9 for $419 a month, according to offers on the automaker’s website reported by Electrek. Both deals ask for $4,999 at signing and run through Nov. 30, 2026.
The lower monthly figure on the smaller SUV hides a closer comparison. Once the down payment is spread over the lease term, Electrek calculated, the IONIQ 9 costs only a few dollars more per month than an IONIQ 5 leased for the same length of time.
What the two leases cost once the down payment is counted
The headline IONIQ 5 offers are 24-month leases, while the IONIQ 9 offer runs 36 months. That difference changes the math, because the same $4,999 signing payment is divided over fewer months on the shorter lease. Electrek’s figures for the effective monthly cost:
- IONIQ 5 SE Standard Range, 24 months: $359 a month, or $567 a month effective.
- IONIQ 5 SE RWD extended range, 24 months: $369 a month, or $577 a month effective.
- IONIQ 9, 36 months: $419 a month, or $557 a month effective.
- IONIQ 5 SE over 36 months, using Hyundai’s payment calculator: about $412 a month, or $550 a month effective.
On equal 36-month terms, the gap between the two-row and three-row models comes to $7 a month in effective cost, by Electrek’s numbers.
How the models differ in price, range and space
The 2027 IONIQ 5 starts at $35,250 for the SE with standard range, which carries an EPA-estimated range of up to 245 miles. The extended-range SE RWD adds $2,500, starting at $37,750, with up to 318 miles. The IONIQ 9 starts at $58,955, nearly $24,000 above the base IONIQ 5, and its base SE trim is rated for up to 335 miles.
The IONIQ 5 is a two-row midsize SUV about the size of a Tesla Model Y and seats five. The IONIQ 9 has three rows in six- or seven-seat layouts. Interior passenger volume is up to 163.54 cubic feet in the IONIQ 9 and up to 106.5 cubic feet in the IONIQ 5.
For comparison, Tesla lists the standard Model Y RWD from $499 a month on a 36-month lease with $3,000 down, with an EPA range of up to 321 miles. With $4,999 down on a 24-month term, Tesla’s calculator shows $549 a month, Electrek reported.
What it means for EV shoppers
Families weighing a larger electric SUV can lease the three-row IONIQ 9 for close to the effective monthly cost of the smaller IONIQ 5, as long as they accept a 36-month term. Shoppers who want the shortest commitment pay more per month on the IONIQ 5’s 24-month deals once the signing payment is included.
The pricing follows the end of the $7,500 federal EV tax credit at the end of September last year. Hyundai responded by cutting IONIQ 5 prices by up to nearly $10,000 on some trims, according to Electrek. The IONIQ 5 was the third best-selling EV in the US through September, behind the Tesla Model Y and Model 3, and is outselling the Chevy Equinox EV, Ford Mustang Mach-E and Toyota bZ.
Both SUVs are built at Hyundai’s Metaplant America near Savannah, Georgia. Hyundai has said its EVs draw more buyers from other brands than its gas or hybrid models do. The company reported a conquest rate (the share of buyers coming from a competing brand) of 69.8% for the IONIQ 5 last year and 64.3% for the IONIQ 9.
When the offers end
Hyundai’s current lease offers on both models expire on Nov. 30, 2026.
Source: Electrek
