Hyundai Ioniq 5 Price Comparison: Evaluating Costs and Features
The Hyundai Ioniq 5 is a compelling option in the electric vehicle market, offering a blend of style, performance, and sustainability. As of 2025, the Ioniq 5 is available in several trims, each catering to different budgets and preferences. The base SE Standard Range starts at $41,800, while the top-tier Limited AWD can exceed $56,500. These prices reflect the latest updates as of March 2025, including any adjustments due to market conditions or manufacturer revisions.
One of the key advantages of the Ioniq 5 is its eligibility for federal tax credits, which can reduce the effective cost by up to $7,500 for qualifying buyers. State-level incentives may further lower the price, making the Ioniq 5 an even more attractive option. Charging costs are another consideration, with Hyundai offering complimentary charging sessions at Electrify America stations for the first two years of ownership.
Trim Levels and Pricing
The Ioniq 5 is available in three primary trims: SE, SEL, and Limited. Each trim offers distinct features and pricing tiers. The SE Standard Range starts at $41,800, while the SE Long Range increases to $45,500 with an extended battery. The SEL trim, priced at $48,200, adds premium features like a sunroof and upgraded interior materials. The Limited trim, starting at $53,000, includes advanced driver-assistance systems and luxury amenities.
Financing and Lease Options
Hyundai provides various financing and lease options to make the Ioniq 5 more accessible. Current promotions include low APR financing for qualified buyers and lease deals with monthly payments as low as $399. These options can significantly reduce the upfront cost, making it easier to transition to an electric vehicle.
Comparison with Competitors
The Ioniq 5 competes with several other EVs in its class. Below is a comparison table highlighting key differences in pricing, range, and features:
| Model | Starting Price | Range (miles) | Key Features |
|---|---|---|---|
| Hyundai Ioniq 5 SE | $41,800 | 220 | Standard Range, RWD |
| Tesla Model Y | $47,740 | 330 | Autopilot, Supercharger Network |
| Ford Mustang Mach-E | $42,995 | 247 | SYNC 4A, BlueCruise |
| Volkswagen ID.4 | $39,995 | 209 | Three Years of Free Charging |
Total Cost of Ownership
Beyond the purchase price, the total cost of ownership includes charging, maintenance, and insurance. The Ioniq 5 benefits from lower maintenance costs compared to traditional gasoline vehicles, with no oil changes or exhaust system repairs needed. Insurance rates vary by location and driver profile, but many insurers offer discounts for EVs due to their safety features.
Conclusion
The Hyundai Ioniq 5 offers a competitive price point in the EV market, with multiple trims and financing options to suit different needs. By comparing it with rivals like the Tesla Model Y and Ford Mustang Mach-E, consumers can make an informed choice based on their priorities. With federal and state incentives, the Ioniq 5 becomes an even more appealing option for those looking to go electric.
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