In a surprising move, Kia is now offering its EV6 Wind electric crossover for the same lease price as its competitor, the Hyundai Ioniq 5 SE, despite the EV6 having a starting MSRP $3,190 higher than the Ioniq 5. The Kia EV6 and Hyundai Ioniq 5 utilize the E-GMP electric vehicle platform, but they have distinct styling and different price points.
For buyers interested in purchasing the Kia EV6 Wind outright, the starting price in the US is $50,025, making it notably more expensive than the Hyundai Ioniq 5 SE model. However, for those opting to lease the EV6 instead, Kia's latest incentive offers a remarkable lease deal.
The 2023 Kia EV6 lease prices have been reduced by $30 per month, bringing the monthly lease cost to match that of the Hyundai Ioniq 5.
Competitive Lease Deals in California
According to incentive bulletins recently sent to dealers and reported by Cars Direct, the lease deal for the Kia EV6 Wind in California stands at $399 per month for a 36-month contract, with $4,999 due at signing for a 10,000-mile per year lease.
This lease deal effectively matches the Hyundai Ioniq 5 SE lease price at $399 per month with the same down payment. Both vehicles qualify for incentives like the $2,000 California Clean Vehicle Rebate, making them even more appealing to potential EV buyers.
The surprising pricing parity between the Kia EV6 and Hyundai Ioniq 5 may sway some buyers toward the EV6, considering its higher purchase price than the Ioniq 5. Kia's lease offer for the EV6 includes a $7,500 lease incentive, which takes advantage of a loophole in the Inflation Reduction Act for EVs assembled outside the US.
It's essential to note that regional variations may still apply to lease prices for the EV6 and Ioniq 5. However, the $399 monthly lease payment for both electric vehicles is currently listed in many parts of the country. As with manufacturer lease examples, it's wise to reach out to dealerships to obtain accurate market pricing in your area.
And just like buying, potential lessees can negotiate with dealers to secure the best possible lease deal. With Kia's bold move to match lease prices with its competitor despite a higher MSRP, the EV6 Wind could attract more attention from eco-conscious consumers seeking a stylish and powerful electric vehicle.