The commercialization of the Hyundai Ioniq 6 has just begun, and the Korean manufacturer exhibits its electric sedan from 450 euros per month in LLD (Long Term Rental). Really interesting monthly payments for a fairly high-end electric saloon, but is it really a bargain? Decoded.
The Hyundai Ioniq 6 is the new 100% electric sedan from the Korean manufacturer. We were able to test it a few weeks ago, and it is clear that Hyundai hits hard with a car that keeps all its promises. However, with a French rate starting from 52,200 euros, which excludes it from the ecological bonus, the car is not necessarily “cheap”, although this notion has become quite relative in recent years. Too bad we are not entitled to the Propulsion version in France, sold 13,000 euros less in the United States!
However, when examining the Hyundai site in France, we found a long-term rental financing offer from 450 euros per month. Quite advantageous rents on the front and that could make this Ioniq 6 even more attractive. Let’s find out together if this financing is really good and if we can be seduced by the car offered and the rentals promised with this offer.
The Hyundai Ioniq 6 is offered at 450 euros per month
As with most “as of” financing offers, this is the basic model. At Hyundai, it’s the “Intuitive” trim level that takes over this role, and as you can see from the main equipment list below, it’s very comprehensive for an entry-level model.
- Dual zone automatic climate control
- 12.3″ digital counters
- Intelligent adaptive cruise control
- Active Lane Keeping Assist
- Autonomous emergency braking with intersection function
- front/rear parking aid
- reversing camera
- Active Lane Keeping Assist
- Active driving assistance on the road
- hands free safe
- USB and USB-C Award
- Europe navigation system with 12.3″ color touchscreen, compatible with Apple Carplay and Android Auto, with Bluelink and Hyundai Live connected services
- eCall emergency call
- Bluetooth connection
- Hands-free entry system and keyless start
- perimeter alarm
- Battery preconditioning system
- athermal windscreen
- bi led headlights
- Automatic lights on.
- Pixel Type LED Daytime Running Lights
- “Glass” effect rear spoiler with “Pixel” type LED brake light reminder
- Pixel LED Taillights
- Electric and heated mirrors
- Electrically folding mirrors
- Manual retractable exterior door handles
- 18″ alloy wheels
- fabric upholstery
- Electric windows
- Leather steering wheel
- heated steering wheel
The Hyundai Ioniq 6 offers three other trims above it, “Creative”, “Executive” and the soon-to-be-defunct launch version “First Edition”, a model limited to 250 examples in France, all sold. These versions are not affected by the offer of 450 euros per month. These finishes incorporate some interesting elements, such as the heat pump, the blind spot camera screen, the 20-inch wheels, the sunroof or the Bose audio system.
For a basic model, the Ioniq 6 in the “Intuitive” trim is quite well equipped, especially since for once the free basic color is not white, but a rather pleasant (but absolutely not repetitive) blue dubbed ” Byte Blue”. . The tires are 18-inch outlet.
At this price, it’s a Hyundai Ioniq 6 with its battery having a gross capacity of 77 kWh and its autonomy 614 km according to the WLTP cycle. This is the only battery offered in the Ioniq 6 at this time. The engine of the version in question is that of 229 channels, with a single engine located on the rear axle. The higher finishes (from “Executive”) offer a version with two engines with a combined power of 325 HP and four-wheel drive.
What are the conditions to qualify for the Hyundai Ioniq 6 LLD offer?
This is a long term rental offer in 37 months and 10,000 kilometers a year, that is, 30,000 km in total. Hyundai indicates that the offer of 450 euros per month is subject to a contribution of 10,750 eurosfrom which the ecological bonus of 5,000 euros cannot be deducted since the car exceeds the eligibility threshold of 47,000 euros.
The contribution is very important, that’s why the car is exhibited in such advantageous monthly installments. Previously, with the ecological bonus, the contributions were partly absorbed by government aid. The Ioniq 6, with its high prices and stricter bonus conditions, is not affected.
How much will the Hyundai Ioniq 6 LLD cost you?
Over three years of long-term rental, your Ioniq 6 will cost you €26,950. Hyundai lists its car starting at €52,200 on its site, excluding any trade discounts, but these practices are becoming less common among dealers, especially in this period when demand is strong and supply is tighter due to the shortage of components and logistical problems encountered. by manufacturers.
From this price, you will pay it during the three years of the rental, 51.6% of the price of your car. It is much more than the three-year discount for this type of car (in general, it ranges between 30 and 35%), especially in electric vehicles where demand continues to increase, which implies some price stability. Since the offer is not an LOA, there is no option to repurchase the vehicle. Therefore, it will be necessary to return the car at the end of the LLD.
Be careful with the repair costs, these can be high at the time of return. We advise you to do it before in a bodybuilder, it will cost you less than in your dealer in general. If you return a vehicle to your dealer after your LLD, you’ll also be a little less careful about the costs of repairs.
Should we favor LLD or a classic credit?
Today practically all new cars are financed. This is also partly the reason why the price of cars keeps rising on the front, since then they dissipate in LOAs and LLDs with quite advantageous rentssometimes monstrous contributions (as is the case here) and high residual values.
About 80% of cars purchased new are financed today, either through leasing or conventional credit. And precisely, compared to a classic credit, is the LLD more interesting?
Even if the rates have increased in recent months, they are still sometimes attractive, especially for an electric car. We can take for example Crédit Agricole Île-de-France and its “Green Vehicle Loan” with an APR of 1.92%.
So by financing €41,450 (with a contribution, like the LLD, of 10,750 euros, but the advantage of the classic credit is that you can modulate it as you want), even after more than 37 months, we reach monthly installments of €1,154.29, Uninsured. The total amount due is €42,708.79. Therefore, the credit will have cost you €1,258.79.
things to remember
From a financial point of view, conventional credit in a bank is not necessarily the best solution in the short term since, monthly payments are almost three times higher compared to LLD offered by Hyundai.
The difference is explained by the fact that with a conventional loan, you finance the whole car and, after 37 months, this belongs to you. You can keep it or resell it. And you have no mileage limit. When it comes to LLD, you are really only paying for part of the car and at the end of the four years you have to return the car and pay a fee if you go over the mileage limit.
|hyundai ioniq 6||LLD||bank credit|
|max mileage||30,000 km||–|
|Duration||37 months||37 months|
While all monthly payments generally correspond to the natural discount on a car, this solution is interesting only if you want to change cars regularly paying part of the car, without worrying about the resale in the end since you will have to return it.
The LLD is interesting if you do not have much visibility regarding the used price of your car and you already know that you are going to resell it. With this type of financing, you know in advance the total cost of ownership of your vehicle.
On the other hand, cash or credit, you cannot know this price, since it will depend on the resale value. However, the demand for electric cars is on the rise, prices should not discount as quickly as a thermal modelespecially with the restrictions on the movement of certain old diesels and gasoline in certain agglomerations.
However, in our eyes, the LLD proposed by Hyundai is not very interesting for two reasons: on the one hand, the contribution is too important. It is true that it allows you to reduce monthly payments quite drastically, but the contribution is a “lost” sum of money from the beginning. What makes our second point bitter: with this offer, you will pay for the three years of the rent, 51.6% of the price of your car. It is too high for a car of this type, which is also expected to maintain its rating quite well and therefore be easily resold afterwards.
Therefore, prefer an LLD offer that is a bit off the mark, with a lower price and higher rents, or go through the classic bank financing. And if you want to resell the car after three or four years, you’ll likely lose less compared to what you paid for the LLD over three years.
To follow us, we invite you to Download our app for Android and iOS. You can read our articles, archives and watch our latest YouTube videos.