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%!
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%!
