Shoppers in the U.S. can now pick up the keys to a brand new Hyundai Ioniq 6 for less than a Tesla Model 3 (before factoring in the EV tax credit) thanks to a generous new rebate announced by the car manufacturer.
Hyundai recently sent a letter to its U.S. dealers confirming that the Ioniq SE and SEL variants are now available with $5,000 in Retail Bonus Cash. The Ioniq 5 had previously been available with a rebate but this was limited to $3,750; the more generous $5,000 now means an Ioniq 6 can be purchased for as little as $37,715, a seriously competitive price for an innovative new EV packed with impressive features.
Hyundai is also offering a discount on the Ioniq 6 Limited, says Cars Direct. In the case of this better-equipped model, the carmaker is offering $2,000 in Dealer Choice Bonus Cash. This money can be kept by dealers or passed along to customers.
The EV is also now more competitive to finance than ever before. APR rates have been cut from 2.75% for 60 months to 1.49%. The Ioniq 6 is also available with interest rates as low as 0.99% over 48 months and it continues to be offered with a $7,500 lease incentive that takes advantage of a loophole found within the U.S. Inflation Reduction Act.
Read: Hyundai Ioniq 6 Buyers To Get 2 Years Of Free Electrify America Charging
One of the Ioniq 6’s key rivals, the Tesla Model 3, starts at $41,630 but Tesla is selling some in its inventory with up to $3,300 in discounts. The Model 3 is also available with the $7,500 EV tax credit and in states including California, shoppers may be eligible with an additional $2,000 Clean Vehicle Rebate.
While the Ioniq 6 has only just hit the market, it has already been well-received by journalists around the world. It was even recently named World Car of the Year and World Electric Vehicle of the Year.
