IONIQ 9 lease undercuts smaller IONIQ 5

The Hyundai IONIQ 9 costs less to lease than the smaller IONIQ 5.

Hyundai sells the IONIQ 9 for $58,955, which is nearly $24,000 more than the base $35,250 IONIQ 5. However, lease terms flip the monthly cost. The IONIQ 9 is available for $419 a month on a 36-month term with $4,999 due at signing. This structure results in an effective monthly cost of $557.

The IONIQ 5 lease options are slightly more expensive. The standard-range SE model starts at $359 a month on a 24-month term. With the same $4,999 down payment, the effective cost is $567 per month. The extended-range SE RWD version runs $369 a month on the same short term, bringing the effective cost to $577. If a buyer stretches the IONIQ 5 lease to 36 months, the effective cost drops to about $550, a difference of only $7 from the larger SUV.

The IONIQ 9 offers more space and range to justify the higher price tag. It provides three rows of seating for six or seven people. The EPA estimates a range of up to 335 miles for the base model. The IONIQ 5 seats five with a maximum range of 318 miles on the extended-range version. Interior volume reaches 163.54 cubic feet in the IONIQ 9, compared to 106.5 cubic feet in the IONIQ 5.

The IONIQ 5 remains the most popular non-Tesla electric vehicle in the United States. It ranked third in total sales through September, behind only the Tesla Model Y and Model 3. Hyundai cut prices by as much as $10,000 on some trims after the federal EV tax credit expired in September 2025. Both vehicles are built at the Metaplant America facility near Savannah, Georgia. Hyundai reported a 69.8% conquest rate for the IONIQ 5 last year, meaning nearly seven in ten buyers were new to the brand. The IONIQ 9 achieved a 64.3% conquest rate.