The Hyundai IONIQ 5 is the most popular EV in America outside of Tesla, but its larger three-row sibling looks like the better deal right now.
Hyundai IONIQ 5 vs IONIQ 9 lease comparison
Through September, the Hyundai IONIQ 5 was the third top-selling EV in the US, behind the Tesla Model Y and Model 3.
Hyundai’s electric SUV is outselling rivals like the Chevy Equinox EV, Ford Mustang Mach-E, and Toyota bZ.
Why? For one, it’s one of the most affordable EVs in the US, starting at about $35,000, and Hyundai has been offering some of the most attractive lease deals.
After the $7,500 federal EV tax credit expired at the end of September last year, Hyundai responded by reducing prices on the IONIQ 5 by up to nearly $10,000 on some trims.
The 2027 Hyundai IONIQ 5 starts at $35,250. That’s for the standard-range IONIQ 5 SE with an EPA-estimated range of up to 245 miles. Upgrading to the extended-range SE RWD model adds $2,500, starting at $37,750, and offers up to 318 miles of range.
Hyundai’s three-row electric SUV, the IONIQ 9, starts at $58,955, or nearly $24,000 more than the base IONIQ 5 SE.
On Hyundai’s website, the 2027 IONIQ 5 SE Standard Range is available to lease from $359 a month. The offer is for a 24-month lease with $4,999 due at signing for an effective cost of $567 per month.
The extended-range Hyundai IONIQ 5 SE RWD can be leased from $369 a month. The offer is also a 24-month lease with $4,999 due at signing, for an effective cost of $577 per month.
Hyundai’s larger IONIQ 9, meanwhile, is available to lease from $419 a month. That deal also includes $4,999 due at signing, but is for a 36-month lease, so the effective cost is $557 per month.
Using Hyundai’s payment calculator, it would cost about $412 a month to lease the 2027 Hyundai IONIQ 5 SE for 36 months with $4,999 due at signing. With an effective cost of $550 per month, it’s only $7 less than the three-row IONIQ 9.
The Hyundai IONIQ 9 offers more range than its smaller sibling, with an EPA-estimated range of up to 335 miles for the base SE trim.
The IONIQ 5 is a midsize electric SUV, about the same size as a Tesla Model Y, with two rows and enough room for five passengers. Hyundai’s larger IONIQ 9 offers three rows of seating and six- or seven-seat configurations.
With an added row of seating, the IONIQ 9 offers up to 163.54 cubic feet of interior passenger volume, compared with the IONIQ 5, which offers up to 106.5 cubic feet.
While the IONIQ 9 may be the better deal right now, the IONIQ 5 is still a good fit for those looking for a smaller, more efficient SUV that doesn’t necessarily need the added space.
In comparison, the standard Tesla Model Y RWD is listed for lease starting at $499 a month with an EPA range of up to 321 miles. That’s for a 36-month lease with $3,000 down.
Using Tesla’s payment calculator, if you put the same $4,999 down for a 24-month lease like the IONIQ 5, the Model Y RWD’s monthly rate is $549.
Which one would you choose? The IONIQ 5, IONIQ 9, or Tesla Model Y? Let us know why in the comments.
Both the IONIQ 5 and IONIQ 9 are built at Hyundai’s Metaplant America outside of Savannah, Georgia.
When we toured the facility earlier this year, Hyundai told us that its electric SUVs are attracting new buyers to the brand at a higher rate than its gas or hybrid vehicles.
The IONIQ 5 had a 69.8% conquest rate last year, while the IONIQ 9 had 64.3%. Hyundai’s Elantra N ranked third (61.9%), followed by the Palisade (61.2%) and Kona Electric (60.9%).
Hyundai’s current offers end on November 30, 2026. Want to see what’s available near you? You can use the links below to find available Hyundai IONIQ 5 and IONIQ 9 models near you, along with any current offers.
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