[NonRevGuy]

Apparently, Hyundai and other electric vehicles qualify for the $7500 tax credit when the vehicle is leased. Here’s Every EV that Gets A $7,500 Lease Credit (Updated March 2023) — LEASEHACKR

Now that I've had Bolt EUV for 3 months, I'm beginning to notice small things that I think might be corrected by the newly redesigned 2024 Hyundai Kona Electric: faster Level 3 DC fast charging, potentially more luxurious and spacious, Vehicle to Load capability and power rear lift gate.

Who knows what trade-in values will be like in a few months / years, but the 2024 Hyundai Kona Electric fixes all of the issues I had with with the 2023 Kona (which I cross shopped against the 2023 EUV).

I'd much rather prefer that Chevy released a redesigned Bolt (not an Equinox) with only the mandatory improvements: faster L3 fast charge capability and V2L capabilities; however, it feels like Chevrolet might ditch the Bolt lineup in favor of the much-too-large Equinox that I will never buy. I have my fingers crossed, but if Chevy doesn't introduce another sub-compact EV, I may jump to the redesigned Kona and try my best to negotiate the lowest residual value (highest mile lease) so that I can buy it out affordably at the end of the lease term.

Looking forward to thoughts from other Bolt owners who have been mulling this over, as the Kona is really the only true same-sized competitor to Bolt (EUV).

 

[Cruzincat50]

 

[NonRevGuy]

Yes, this is a great video showing the differences between EUV and outgoing last-generation 2023 Kona. I am speaking about the upcoming 2024 Kona.

 

[Cruzincat50]

According to the youtube video, the Kona does not qualify for the $7500 credit. If there is a $7500 Lease credit, it is from the dealer or Hyundai.

 

[jreddington]

Finding a good priced 2024 Kona lease is probably going to be as hard as finding an MSRP 2023 Bolt.

 

[Cruzincat50]

The last year open pilot is available on the Kona is 2022. You may have to give that up.

 

[Kbecker]

Finding a good priced 2024 Kona lease is probably going to be as hard as finding an MSRP 2023 Bolt.

Especially if you live in flyover country. If you are not in a CARB state don’t get your hopes up.

 

[MichBolt]

Since you cross-posted from Reddit, I'll just use someone's response there:
https://www.reddit.com/r/BoltEV/comments/11v9b7h/_/jcs6riv

 

[NonRevGuy]

The last year open pilot is available on the Kona is 2022. You may have to give that up.

Oh man. Is it confirmed that newer Hyundai / Kia won't work with Openpilot? That is a deal breaker for me.

 

[NonRevGuy]

Finding a good priced 2024 Kona lease is probably going to be as hard as finding an MSRP 2023 Bolt.

Especially if you live in flyover country. If you are not in a CARB state don’t get your hopes up.

Thanks, I'm in California so I'm lucky to have the incentives. I wonder if the EV "craze" will die down 3Q2023, but by that time, maybe there'll be a bit too much buzz around the new Kona, and I'll have to wait longer into 2024.

Since you cross-posted from Reddit, I'll just use someone's response there:
https://www.reddit.com/r/BoltEV/comments/11v9b7h/_/jcs6riv

Thanks, yea. As I shared there, I was surprised that a California not-for-profit is working with certain Hyundai dealers on a group buy for $500 off. Hopefully, by then we'll have hit peak Fed Funds Rate increases which might require dealers to really give up on pricing. EV Discount Campaign March 2023 – Ride and Drive Clean

 

[Cruzincat50]

Oh man. Is it confirmed that newer Hyundai / Kia won't work with Openpilot? That is a deal breaker for me.

It's not in the compatibility list.

 

[jefro]

Thought there was a lease deal where you can use it maybe for business to qualify for credit.

 

[NonRevGuy]

It's not in the compatibility list.

Oh. The 2024 Kona isn't out yet, so we'll have to see. As for current releases, 2023 Santa Fe works, and there are some reports in Discord that 2023 Kona will also work. Adeeb noted that 2023 Palisade has some issues however, so hopefully those changes don't affect 2024 Kona: "though I did hear the 2023 palisade is slightly different than other cars, but that's the only weird one I know about". Discord - A New Way to Chat with Friends & Communities

 

[NonRevGuy]

Thought there was a lease deal where you can use it maybe for business to qualify for credit.

I think per Leasehackr, as long as the leasing company will pass it on, they are the company that will be able to grant the $7500 credit to the lessor.

 

[FlashBoltEUV]

The Kona doesn’t qualify for the federal tax credit. Hyundai is offering a cash off deal because they can’t move the things because they are too expensive. Dealers are jacking up prices because they didn’t make enough of them either and they aren’t available nationally. Just in CARB states. Korea makes good EVs but they don’t assemble them in the USA yet and they don’t produce the batteries in the USA either. Those were cost-cutting measures that blew up in the company’s faces.

 

[NonRevGuy]

The Kona doesn’t qualify for the federal tax credit. Hyundai is offering a cash off deal because they can’t move the things because they are too expensive. Dealers are jacking up prices because they didn’t make enough of them either and they aren’t available nationally. Just in CARB states. Korea makes good EVs but they don’t assemble them in the USA yet and they don’t produce the batteries in the USA either. Those were cost-cutting measures that blew up in the company’s faces.

As I understand it, Hyundai's leasing company Hyundai Motor Finance is passing on the $7500 tax credit per Leasehackr. This is the new wrinkle for new EV buyers / lessors. Here’s Every EV that Gets A $7,500 Lease Credit (Updated March 2023) — LEASEHACKR

They do note, however, "Note that the lease incentive does not guarantee a good deal. Some lenders, such as Hyundai Motor Finance, lowered the lease residual value and increased the money factor (the interest rate for a lease) upon offering the $7,500 lease incentive, resulting in minimal changes to the monthly payment."

 

[CHASBOLT]

For 60k it better have 450hp.

 

[mrcleop]

Unless you plan on buying out the lease after 1 month, you won’t see much of the $7500 lease bonus that Hyundai is offering. Take a look at the terms of the current Kona EV lease offer. They’ve played with the residual and money factor to benefit themselves.

Total MSRP = $34,885. With the $7500 EV Lease Bonus, that would mean the car should cost $27,385. The lease end buyout is $20,233. So the principal amount that you're paying for in the lease is $7152. But if you add up the lease payments and down payment, you're paying $13,414. That's an extra $6262 in interest, which is an effective APR of 29%!

 

[NonRevGuy]

Unless you plan on buying out the lease after 1 month, you won’t see much of the $7500 lease bonus that Hyundai is offering. Take a look at the terms of the current Kona EV lease offer. They’ve played with the residual and money factor to benefit themselves.

Total MSRP = $34,885. With the $7500 EV Lease Bonus, that would mean the car should cost $27,385. The lease end buyout is $20,233. So the principal amount that you're paying for in the lease is $7152. But if you add up the lease payments and down payment, you're paying $13,414. That's an extra $6262 in interest, which is an effective APR of 29%!

Thanks for this. The lease variables may not make sense, and I’d guess they’d get worse when the new 2024 model is dropped.

I contacted my local dealer that sells at sticker to get on their interest list, so I’ll share my learnings here whether or not a deal can be had. I’m hopeful that rising interest rates force Hyundai’s hand to move these cars with aggressive lease offers as demand falls.

 

[Duke Woolworth]

Apparently, Hyundai and other electric vehicles qualify for the $7500 tax credit when the vehicle is leased. Here’s Every EV that Gets A $7,500 Lease Credit (Updated March 2023) — LEASEHACKR

Now that I've had Bolt EUV for 3 months, I'm beginning to notice small things that I think might be corrected by the newly redesigned 2024 Hyundai Kona Electric: faster Level 3 DC fast charging, potentially more luxurious and spacious, Vehicle to Load capability and power rear lift gate.

Who knows what trade-in values will be like in a few months / years, but the 2024 Hyundai Kona Electric fixes all of the issues I had with with the 2023 Kona (which I cross shopped against the 2023 EUV).

I'd much rather prefer that Chevy released a redesigned Bolt (not an Equinox) with only the mandatory improvements: faster L3 fast charge capability and V2L capabilities; however, it feels like Chevrolet might ditch the Bolt lineup in favor of the much-too-large Equinox that I will never buy. I have my fingers crossed, but if Chevy doesn't introduce another sub-compact EV, I may jump to the redesigned Kona and try my best to negotiate the lowest residual value (highest mile lease) so that I can buy it out affordably at the end of the lease term.

Looking forward to thoughts from other Bolt owners who have been mulling this over, as the Kona is really the only true same-sized competitor to Bolt (EUV).

Apparently, Hyundai and other electric vehicles qualify for the $7500 tax credit when the vehicle is leased. Here’s Every EV that Gets A $7,500 Lease Credit (Updated March 2023) — LEASEHACKR

Now that I've had Bolt EUV for 3 months, I'm beginning to notice small things that I think might be corrected by the newly redesigned 2024 Hyundai Kona Electric: faster Level 3 DC fast charging, potentially more luxurious and spacious, Vehicle to Load capability and power rear lift gate.

Who knows what trade-in values will be like in a few months / years, but the 2024 Hyundai Kona Electric fixes all of the issues I had with with the 2023 Kona (which I cross shopped against the 2023 EUV).

I'd much rather prefer that Chevy released a redesigned Bolt (not an Equinox) with only the mandatory improvements: faster L3 fast charge capability and V2L capabilities; however, it feels like Chevrolet might ditch the Bolt lineup in favor of the much-too-large Equinox that I will never buy. I have my fingers crossed, but if Chevy doesn't introduce another sub-compact EV, I may jump to the redesigned Kona and try my best to negotiate the lowest residual value (highest mile lease) so that I can buy it out affordably at the end of the lease term.

Looking forward to thoughts from other Bolt owners who have been mulling this over, as the Kona is really the only true same-sized competitor to Bolt (EUV).

The new Kona solves the difference between the previous one and the Bolt: rear seat room, as both are virtually identical elsewhere. The Kona got a compromise because it's an ICE car converted to an EV. While my '19 Bolt's in for repair after a guy opened his door just as I passed, I'm driving a Kona ICE rental. It's much more advanced than the Bolt, and the EV has a heat pump, which should result in better range. I really want to move on somewhere in this easy to navigate range, but with AWD and more ground/snow clearance. I saw my first '24 Niro in all white, more similar in size to the EUV, also FWD only. So I'll wait...and wait, as small cars with all the stuff are almost as expensive as the easier to sell bigger rides.
Stuck in the Lake Erie snow belt, I wish you all well, and hope one day to be back in my Bolt, waiting for parts.

According to the youtube video, the Kona does not qualify for the $7500 credit. If there is a $7500 Lease credit, it is from the dealer or Hyundai.

TBD at this point.