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The Hyundai IONIQ 5 is a bit more expensive to lease this month, but it’s still a great deal
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Hyundai's IONIQ 5 remains one of America's most affordable electric SUVs, though September lease prices have risen slightly. The 2026 model starts at $35,000, with 0% APR financing for up to 72 months or discounts up to $5,000. Despite the increase, the IONIQ 5 still stands out among budget EVs.
The IONIQ 5 was the best-selling non-Tesla EV in the U.S. in the first half of 2026. After the $7,500 federal tax credit expired last September, Hyundai cut prices by nearly $10,000 on some trims. That helped it compete with the Chevy Bolt EV, Nissan LEAF, Toyota bZ, and Kia EV3.
This month, Hyundai offers 0% APR for 60 months plus 90 days of no payments, or a $3,000 discount. In California, leases start at $329 per month for 24 months with $4,999 due at signing. Outside California, leases start at $319 per month, $10 more than August, with up to $5,000 in savings.
Upgrading to the IONIQ 5 SE RWD costs $329 per month and boosts range from 245 to 318 miles. The Toyota bZ starts at $34,900, but its effective lease rate is $559 per month versus $527 for the IONIQ 5. The bZ XLE Plus offers 314 miles of range but higher monthly costs.
Even the Tesla Model Y is more expensive to lease, at $499 per month for 36 months with $4,195 due at signing, an effective cost of $615. The IONIQ 5 undercuts that figure. It also offers competitive range and practicality, making it a stronger value for many shoppers.
The Kia EV3 Wind FWD leases at $349 per month for 36 months with $3,999 due at signing, an effective rate of $460. However, the IONIQ 5 is larger, charges faster, and offers more interior space. Buyers must weigh lower payments against the Hyundai's advantages.
As automakers battle for EV market share, September's incentives show how competitive the segment has become. The IONIQ 5's combination of price, range, and features keeps it a compelling choice heading into late 2026. Consumers now have more affordable options than ever before.
