Summary
- Hyundai Ioniq 5 has retro-futuristic style, fast charging, pleasurable driving dynamics, and spacious cabin
- Used Hyundai Ioniq 5 versions have high depreciation and models to choose from
- Used models range from $25,000 to $35,000, making them more affordable than new
- Hyundai Ioniq 5 has 5-year or 60,000-mile basic warranty and a 10-year or 100,000-mile powertrain warranty
- Battery degradation is a concern with used vehicles, but current Ioniq 5s show minimal loss of range
Article
Introduction
The Hyundai Ioniq 5 is a standout electric vehicle known for its retro-futuristic style, advanced architecture, fast charging capabilities, driving dynamics, and spacious cabin. With three years on the market, the Ioniq 5 is now available as a used option, making it more affordable for interested buyers. This article explores key factors to consider when buying a used Hyundai Ioniq 5.
Choosing the Right Version
The Hyundai Ioniq 5 comes in three versions – the SE Standard Range, RWD, and AWD. Each version offers different power outputs and battery capacities. While the SE Standard Range may not be the most compelling option, the RWD model with a larger battery pack provides a good balance of power and range. However, the AWD model offers enhanced performance but with slightly less range. Depending on your driving needs, each version has its merits.
Pricing and Affordability
Due to substantial depreciation, used Hyundai Ioniq 5 models are available at relatively affordable prices compared to new ones. A used 2022 or 2023 model typically falls within the $25,000 to $35,000 range, making it an attractive option for budget-conscious buyers. By leveraging federal tax credits for used EVs, buyers can find even lower-priced deals, making the Ioniq 5 a cost-effective choice.
Warranty Coverage
Hyundai offers a comprehensive warranty package for the Ioniq 5, including a 5-year or 60,000-mile basic warranty and a 10-year or 100,000-mile powertrain warranty. With most Ioniq 5 vehicles still under warranty, buyers can have peace of mind regarding potential repairs or issues that may arise. This warranty coverage adds to the appeal of choosing a used Ioniq 5.
Potential Issues to Consider
While the Hyundai Ioniq 5 is a well-regarded electric vehicle, there have been some reported issues with certain models. Owners have experienced problems with the Integrated Charging Control Unit causing battery drain and rear liftgate rattling. Additionally, early models lack a rear wiper, impacting winter visibility. These issues should be considered when deciding on a used Ioniq 5.
Battery Degradation and Longevity
Like all lithium-ion batteries, the Ioniq 5’s battery will experience capacity loss over time. While long-term data is limited, early reports suggest minimal degradation over the vehicle’s lifespan. Hyundai offers warranty coverage for battery repair up to 70% capacity, ensuring that range loss is not a significant concern for used Ioniq 5 owners.
New vs. Used Options
The decision between buying a new or used Hyundai Ioniq 5 ultimately depends on individual preferences and financial considerations. While used models offer cost savings and value due to depreciation, Hyundai’s incentives for new models, including cash back and low APR financing, can make buying new equally appealing. With the introduction of the 2025 model offering improved features, buyers have a choice between the value of a used Ioniq 5 and the latest amenities of a new one.
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