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[Hyundai] [ONT] Hyundai Ioniq SE Electric - $28,352 all-in after ONT rebate

  • Last Updated:
  • Sep 22nd, 2017 7:01 pm
Member
Dec 24, 2006
317 posts
93 upvotes
IntrepidRT wrote:
Sep 6th, 2017 1:01 pm
$3500 per year in gas vs $500 per year in electricity is a HUGE difference.
Yes, it would be huge if that was the actual difference, but it's not - as was pointed out earlier. A compact size sedan like the Civic should easily get 100km/10L, which conservatively equates to annual gas cost of 25000/10 * $1.20/L = $3000, or a difference of $2500 annually. If you were to pick a more similarly sized car to the Leaf like the Versa, Rio or Fiesta, the difference would probably be around $2000 annually max.
Jr. Member
Feb 19, 2017
122 posts
40 upvotes
SmartElectric wrote:
Sep 9th, 2017 11:16 am
I'm quite sure of these numbers, and obviously the rebate is applied post-tax, I've owned two EV's and buying a third, I know this stuff.

Example:

Bolt $43K + tax - rebate = $34590 OTR
Depreciation will be in the range of existing cars, so $16800 trade in value in 48 months.
Note that the trade in reduces taxes applicable on new car, so subtract another $2184.
=$326/month OTR

Of course, Chevy lease is not attractive in comparison, they don't provide entire rebate, and add relatively high interest rate.

If you don't like my numbers, provide your own, I'd be interested to know.
On Chevrolet's website, a base Bolt is $44,895 before incentive. That includes freight and other mandatory fees. Subtract the incentive of $12,389 and add HST yields $36,731.78 OTR price. If I subtract your estimate of $18,984 towards a trade in, that gives me $17,747.78 over 48 months, which works out to $369.75/month. There's also the opportunity cost of paying the full price up front.

How are you arriving at the residual value estimate? On a 48-month lease Chevy gives a residual value of $13,469, which is ~$3.3K less than your estimate.
Member
May 23, 2008
441 posts
82 upvotes
Toronto
SmartElectric wrote:
Sep 7th, 2017 11:50 pm
VW Canada has already forgot about it, you can't buy one right now, at least another 5 months for next small batch allowed to be sold here.
I tried last week - loved the eGolf but if I can't walk in & buy/lease it, I don't put my money down.
So I picked up a 2017 Smart 2 days ago - had a 2014 before. Great car, with a better ride than the previous edition.
I think they dropped the ball a bit by having only a marginal 10 km increase in range - and so far there is no phone app.
But still there's nothing like a Smart for booting around the city (& for parking!).
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Sep 10, 2008
4082 posts
1956 upvotes
Kitchener
brownbobcat wrote:
Sep 9th, 2017 1:14 pm
Yes, it would be huge if that was the actual difference, but it's not - as was pointed out earlier. A compact size sedan like the Civic should easily get 100km/10L, which conservatively equates to annual gas cost of 25000/10 * $1.20/L = $3000, or a difference of $2500 annually. If you were to pick a more similarly sized car to the Leaf like the Versa, Rio or Fiesta, the difference would probably be around $2000 annually max.
Similar in size? You mean a mid size car? Obviously you have no clue what you're talking about. Should stop while you're ahead bud.
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Dec 19, 2001
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Fernando Po
Avignon wrote:
Sep 9th, 2017 5:56 pm
I tried last week - loved the eGolf but if I can't walk in & buy/lease it, I don't put my money down.
So I picked up a 2017 Smart 2 days ago - had a 2014 before. Great car, with a better ride than the previous edition.
I think they dropped the ball a bit by having only a marginal 10 km increase in range - and so far there is no phone app.
But still there's nothing like a Smart for booting around the city (& for parking!).
Would have considered the smart, but a 54 mile range is useless for anything other than a small city car.
"On some great and glorious day the plain folks of the land will reach their heart's desire at last and the White House will be adorned by a downright moron.” -HL Mencken
Member
May 23, 2008
441 posts
82 upvotes
Toronto
hagbard wrote:
Sep 9th, 2017 6:42 pm
Would have considered the smart, but a 54 mile range is useless for anything other than a small city car.
127 km on Eco mode; 117 without; yes for us it's exactly that - an urban runabout, at which it excels.

The reviewers have all been citing 160 km, but that's the European metric, which is always higher than the North American metric.
Deal Addict
May 31, 2005
1329 posts
199 upvotes
Mississauga
Smart is not very practical if you have kids, not even useful for daily commute since I need to drop off the kids at day care. can't do that with a two seater.
Member
Sep 8, 2014
413 posts
332 upvotes
Toronto, ON
50centdollars wrote:
Sep 9th, 2017 3:21 pm
base Bolt is $44,895 before incentive. That includes freight and other mandatory fees...subtract your estimate of $18,984 towards a trade in, that gives me $17,747.78 over 48 months
Thanks for the update on the Bolt, I didn't add enough for freight and fees, good catch.
50centdollars wrote:
Sep 9th, 2017 3:21 pm

How are you arriving at the residual value estimate? On a 48-month lease Chevy gives a residual value of $13,469, which is ~$3.3K less than your estimate.
Model of depreciation has half of the car value depreciating slowly (8%/year) and the other 40% of the car quickly (25%/year) and initial drop of 10% that you'll never get back once you drive off the lot.

Depreciation
0.40 0.50 percentage of car that depreciates at below rate
0.75 0.92 rate of depreciation

Produces this model:
Depreciation Year
0.90 0
0.76 1
0.65 2
0.56 3
0.48 4
0.42 5

This model fits the EV's I watch on autotrader.ca and the ones I've owned.
Deal Fanatic
Mar 22, 2004
8524 posts
435 upvotes
Mississauga
SmartElectric wrote:
Sep 9th, 2017 1:15 am
All these are 48 month ownership (MSRP + taxes - rebate - trade in after 48 months of ownership) per month OTR cost base models no options:

$220 - 2017 Leaf
$260 - 2018 Leaf
$215 - 2018 Focus EV
$250 - Ioniq
$326 - Bolt
$310 - Volt

and my fave

$180 - 2018 Smart Electric Drive coupe
THANKS! Do you mind if I ask you the same but in CASH purchase price OTD? If not that is alright :)
Deal Fanatic
Mar 22, 2004
8524 posts
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Mississauga
SmartElectric wrote:
Sep 9th, 2017 1:15 am
All these are 48 month ownership (MSRP + taxes - rebate - trade in after 48 months of ownership) per month OTR cost base models no options:

$220 - 2017 Leaf
$260 - 2018 Leaf
$215 - 2018 Focus EV
$250 - Ioniq
$326 - Bolt
$310 - Volt

and my fave

$180 - 2018 Smart Electric Drive coupe
What are your thoughts on the Smart Electric Drive coupe? Positives and negatives?
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User avatar
Mar 28, 2002
2513 posts
999 upvotes
SmartElectric wrote:
Sep 8th, 2017 3:55 pm
Unobtanium continues. First FFE, then e-Golf, then Bolt, now Ioniq.
Market defying logic. Demand outweighs supply (PHEV &BEV) with good margins yet they keep mass producing product ICE with slim margins and cash on the hood discounts that outweighs demand. Go figure.
Jr. Member
Feb 19, 2017
122 posts
40 upvotes
Redscott wrote:
Sep 9th, 2017 9:54 pm
Market defying logic. Demand outweighs supply (PHEV &BEV) with good margins yet they keep mass producing product ICE with slim margins and cash on the hood discounts that outweighs demand. Go figure.
There's probably immense pressure from dealer networks. EV's means the dealer business model - service - is likely cut in half if not more.

Also, the margins on EVs probably aren't great right now. TSLA's margins aren't great, and they have probably the cheapest batteries in the world. Manufacturers buying batteries from suppliers (LG, Samsung, etc) have less room to work with.
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Aug 9, 2013
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Scarborough
So if I'm going on a road trip I have to limit myself to stopping and charging my car every 200km (~2 hours). How frantic is that? And what if you can't find a place to charge your car and how long would you need to wait for it to fully charge?
Newbie
Nov 27, 2016
50 posts
46 upvotes
SmartElectric wrote:
Sep 8th, 2017 3:55 pm
Unobtanium continues. First FFE, then e-Golf, then Bolt, now Ioniq.
I'm in the market for a new car and really interested in electric. Can anyone who has bought one recently give a sense of how much room there is to negotiate? I am looking at the vw e-Golf.

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