2027 Hyundai IONIQ 5 (Source: Hyundai)

Hyundai is giving drivers a way to escape the pump with big discounts on electric vehicles, including the IONIQ 5.

Hyundai lures drivers to go electric with big discounts

After the $7,500 US tax credit expired last September, Hyundai reduced IONIQ 5 prices by up to nearly $10,000 on some trims in response.

With gas and oil prices rising, Hyundai is again offering some relief. Hyundai is offering up to $10,000 in Bonus Cash toward the purchase of a new EV this month. Those looking to lease can opt for 0% APR financing for up to 72 months, plus an additional $3,000 off.

The three-row IONIQ 9 gets the biggest discounts, with up to $10,000 in total savings or 0% APR plus $3,000 off.

Despite a starting MSRP of nearly $60,000, the IONIQ 9 is listed for lease starting at just $369 per month. That’s cheaper to lease than the Santa Fe Hybrid, which costs $36,400.

2026 Hyundai IONIQ 9 (Source: Hyundai)

If you’re looking for something a little smaller, the IONIQ 5 is hard to pass up. Leases start at just $259 a month, which is about as cheap as you’ll find for any new EV in the US.

That’s for the Standard Range SE model, with an EPA-estimated driving range of 245 miles. For just $10 more, or $269 a month, you can lease the 2026 Hyundai IONIQ 5 SE RWD with an EPA-estimated range of up to 318 miles.

2026 Hyundai IONIQ 5 (Source: Hyundai)

Starting at $35,000, the IONIQ 5 is already among the most affordable EVs, but Hyundai is offering up to $7,000 off in Bonus cash on the purchase of a new 2026 model. Those looking to lease can score 0% APR financing for up to 72 months, plus an extra $1,000 off.

It’s no wonder the IONIQ 5 consistently ranks among the most popular electric vehicles in the US. In fact, Kelley Blue Book declared it as the “best-of-the-best EV” in its 2026 Best Buy Awards earlier this year.

The interior of the 2026 Hyundai IONIQ 5 (Source: Hyundai)

While the standard IONIQ 6 is being discontinued (only the performance N model will remain on sale), Hyundai is offering up to $7,500 off with leases starting as low as $239 per month.

And it’s not just in the US. Hyundai is running promotions in most markets, including Europe and South Korea.

2026 Hyundai IONIQ 5 Trim	Driving Range (miles)	Starting Price*	2026 Monthly Lease Price in June
IONIQ 5 SE RWD Standard Range	245 miles	$35,000	$259
IONIQ 5 SE RWD	318 miles	$37,500	$269
IONIQ 5 SEL RWD	318 miles	$39,800	$309
IONIQ 5 Limited RWD	318 miles	$45,075	$399
IONIQ 5 SE Dual Motor AWD	290 miles	$41,000	$339
IONIQ 5 SEL Dual Motor AWD	290 miles	$43,300	$379
IONIQ 5 XRT Dual Motor AWD	259 miles	$46,275	$419
IONIQ 5 Limited Dual Motor AWD	269 miles	$48,975	$469

2026 Hyundai IONIQ 5 prices, range, and monthly lease price by trim (*Does not include $1,600 destination fee)

Hyundai’s financial arm, Hyundai Capital, launched a new promotion offering up to 7% discount on the IONIQ 5 and IONIQ 6, and 5% discount on the Kia EV6 and EV9.

“We prepared these benefits to enable customers to utilize electric vehicles more economically amidst continuing soaring fuel prices,” a company spokesperson said on Friday.

The new promotion comes after Hyundai launched the refreshed 2027 IONIQ 5 in Korea earlier this month at a lower price amid new competition, including the Tesla Model Y Juniper.

With new electric vehicles arriving in the US, like the Rivian R2, will Hyundai do the same with the 2027 IONIQ 5? We will find out soon.

If you’re ready to check one out yourself, you can use the links below to see what’s available near you and compare current offers.

• Hyundai IONIQ 5
• Hyundai IONIQ 9