Futuristic look, sufficient autonomy, convincing dynamic features… There is no shortage of superlatives to qualify the Hyundai Ioniq 5, and when it is displayed from 300 euros per month, there is a good chance that the case will not be not so bad.
In the world of electric cars, the Hyundai Ioniq 5 is certainly one of those that stand out the most aesthetically speaking. With its air of futuristic cars, the Ioniq 5, technical cousin of the Kia EV6, plays the card of modernism at almost all levels. Hyundai has recently made it a specialty, notably with the arrival of the Ioniq 6 which, too, is intended to be futuristic, without being too divisive.
Even if it evolves a little in the shadow of the Kia EV6, the Hyundai Ioniq 5 does not lack advantages, and when in addition the Korean manufacturer offers a financing offer from 300 euros per month, there are what to be interested in the subject. So is this financing a good deal? Is it really worth it? Does it meet your needs? This is what we are going to discover in this article.
The Hyundai Ioniq 5 offered at 300 euros per month
As with the majority of “starting at” financing offers, this is the basic model. At Hyundai, it’s the “Intuitive” trim level that takes on this role, and as you can see from the list of main equipment below, it’s quite complete for an entry-level model.
- LED headlights
- Automatic lighting of lights
- Electric and heated mirrors
- Electrically folding mirrors
- Intelligent adaptive cruise control
- Active lane keeping assistanceAutonomous emergency braking with pedestrian detection
- Smart Speed Limiter
- Autonomous emergency braking with intersection functions
- Front and rear parking aid
- Active Lane Keeping Assist
- Active Highway Driving Assistance
- Rain sensor
- e-Call emergency call
- Perimeter alarm
- Battery pre-conditioning system
- Electrically controlled transmission
- Athermic windshield
- Tinted rear windows
- Dual-zone automatic climate control
- 12.3 inch digital counters
- Drive Mode
- Hands-free access system and keyless start
- Fabric upholstery
- Europe navigation system with 12.3-inch color touchscreen, Apple Carplay and Android Auto compatible, with Bluelink and Hyundai Live connected services
- Steering wheel audio controls
- Bluetooth connection
The Hyundai Ioniq 5 offers two other finishes above (“Creative” and “Executive”), but they are not affected by this offer at 300 euros per month. These finishes incorporate some interesting elements, but not necessarily the most essential, such as the panoramic sunroof, the 20-inch rims or the V2L connection.
For a basic model, the Ioniq 5 in the “Intuitive” finish is rather well equipped, especially since, for once, the free basic color is not white, but a rather nice blue. baptized “Lucid Blue”. The rims are from the outset in 19 inches.
At this price, it is the Hyundai Ioniq 5 with its battery with a gross capacity of 58 kWh and its autonomy 384km according to the WLTP cycle. To achieve a range of 507 km, you have to aim for the 77 kWh battery, but the prices are logically going up and we are getting out of the financing offer. The model that interests us is equipped with an electric motor of 125 kW (170 hp)against 168 kW (229 hp) for the largest battery.
What are the conditions to be eligible for the Hyundai Ioniq 5 LLD offer?
This is a long-term rental offer on 37 months and 10,000 kilometers per year, i.e. 30,000 km in total. Hyundai indicates that the offer at 300 euros per month is subject to a contribution of 6,700 euros, once the ecological bonus of 6,000 euros has been deducted. Without the bonus, the contribution would be 12,700 euros.
From next year, the maximum bonus will increase to 5,000 euros and the financing offer will certainly change. The models concerned should therefore be available before the end of the year, so it will probably be a stock model.
How much will the LLD of the Hyundai Ioniq 5 cost you?
Over three years of long-term rental, your MG4 will cost you €17,500. Hyundai displays its car from 46,500 euros on its site, ecological bonus of 6,000 euros not deducted. This gives us, once the deductions have been made, a model displayed at the list price at €40,500.
Starting from this price, you will pay over the three years of the rental 43.2% of the price of your car. This is more than the discount over three years for this type of car, especially for electric cars where demand continues to increase, thus implying a certain price stability. As the offer is not an LOA, there is no option to buy back the vehicle. It will therefore be necessary to return the car at the end of the financing.
Beware of repair costs, these can be high at the time of return. We advise you to do it before at a bodybuilder, it will cost you less than at your dealer in general. If you take a vehicle back to your dealer after your LLD, he will also be a little less careful about the costs of repairs.
Should we favor the LLD or a classic credit?
Rare are the customers who buy their new car in cash. About 80% of cars purchased new are financed today, either by leasing or by conventional credit. And precisely, compared to a classic credit, is the LLD more interesting?
Even if the rates have increased a lot in recent months, they remain rather interesting, especially if you buy an electric car. For example, at Crédit Agricole Île-de-France, thanks to the “Green Vehicle Loan” and its APR of 1.92%, there is a way to achieve attractive monthly payments given the price of the car.
A few weeks ago, we completed a financing file for the new MG4 by integrating the “Green Vehicle Loan” offer with an APR of 1.49%. Contacted by us, Crédit Agricole confirmed to us that it had increased the rates for certain projects, including this one since 11/10/2022 (+ 0.42 points over all loan durations). However, the offer remains advantageous: 1.92% from 12 to 84 months and no administration fees.
So, by funding €33,800 (ecological bonus of 6,000 euros deducted and with a contribution, like the LLD, of 6,700 euros), still over 48 months, we arrive at monthly payments of €731.82, without insurance. The total amount due is €35,127.41the credit will therefore have cost you €1,327.41.
Note that Crédit Agricole is not the only bank to offer this type of loan for electric cars. For example, at the national level, the CIC offers a rate of 2.15% for the financing of a zero-emission car. The CIC has also recently increased its rates, since a few weeks ago, it was at 1.75%.
Things to remember
As you can see, from a purely financial point of view, conventional credit in a bank, in this case Crédit Agricole and its “Green Vehicle Loan” offer, is not necessarily the best solution, at least short term. In effect, the monthly payments are almost twice as high compared to the LLD offered by Hyundai.
| Hyundai Ioniq 5 | LLD | Classic credit |
|---|---|---|
| Bring | €6,700 | €6,700 |
| Maximum mileage | 30,000km | – |
| Duration | 48 months | 48 months |
| Monthly payments | 300 euro | €731.82 |
| Cost of financing | – | €1,327.41 |
| Total cost | €17,500 | €41,827.41 |
The difference is only explained by the fact that with a classic loan, you finance the entire car and, at the end of 48 months, this one belongs to you. And you have no mileage limit. When it comes to LLD, you are really only paying for part of the car and at the end of the four years you have to return the car and pay a fee if you go over the mileage limit.
Even if all of the monthly payments generally correspond to the natural discount of a car, this solution is interesting only if you want to change cars regularly by paying for part of the car, without bothering with the resale at the end since you will have to return it.
The LLD is interesting if you do not have too much visibility regarding the used price of your car and you already know that you are going to resell it. With this type of financing, you know in advance the total cost of ownership of your vehicle.
On the other hand, in cash or on credit, you cannot know this price, since it will depend on the resale value. Nevertheless, the demand for electric cars being on the rise, prices should not discount as quickly as a thermal modelespecially with the restrictions of circulation of certain old diesels and gasoline in certain agglomerations.
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