IONIQ 9 lease costs under $560 monthly beat IONIQ 5 pricing

The Hyundai IONIQ 9 now costs less to lease than the IONIQ 5 on a per-month basis, according to current pricing on Hyundai's website. The larger model is advertised from $419 per month for 36 months with $4,999 due at signing. This calculation yields an effective cost of $557 per month. By comparison, the standard-range IONIQ 5 SE starts at $359 per month for 24 months with the same down payment. That shorter term results in an effective cost of $567 per month.

The IONIQ 5 remains the top-selling non-Tesla electric vehicle in the United States. It held the third position in total EV sales through September, behind only the Tesla Model Y and Model 3. The vehicle outsells the Chevy Equinox EV, Ford Mustang Mach-E, and Toyota bZ. Its market position is supported by a starting price of approximately $35,000. After the federal EV tax credit expired at the end of last September, Hyundai reduced IONIQ 5 prices by nearly $10,000 on specific trims. The 2027 IONIQ 5 SE now starts at $35,250.

The sticker price gap between the two models is substantial. The IONIQ 9 starts at $58,955, which is nearly $24,000 more than the base IONIQ 5 SE. However, the lease structures narrow this difference. Using Hyundai's payment calculator, a 36-month lease for the 2027 IONIQ 5 SE with $4,999 due at signing costs about $412 per month. This equates to an effective cost of $550 per month. That figure is only $7 less per month than the effective cost of the IONIQ 9 lease.

The IONIQ 9 offers greater capacity and range to justify its higher base price. The base IONIQ 9 SE provides an EPA-estimated range of up to 335 miles. It features three rows of seating with options for six or seven occupants. The vehicle offers up to 163.54 cubic feet of interior passenger volume. The IONIQ 5 is a midsize SUV with two rows and seating for five. It provides up to 106.5 cubic feet of passenger volume. The standard-range IONIQ 5 SE has an EPA-estimated range of up to 245 miles, while the extended-range model offers up to 318 miles.

Both vehicles are manufactured at Hyundai's Metaplant America facility outside Savannah, Georgia. Company representatives told Electrek during a facility tour earlier this year that electric SUVs attract new customers to the brand at a higher rate than gasoline or hybrid models. The IONIQ 5 recorded a 69.8% conquest rate last year. The IONIQ 9 achieved a 64.3% conquest rate. The Elantra N followed with a 61.9% rate, while the Palisade and Kona Electric posted rates of 61.2% and 60.9% respectively.