Hyundai IONIQ 9 Lease Rates Drop Below Smaller IONIQ 5

The 2027 Hyundai IONIQ 9, a three-row electric SUV, now carries a lower effective monthly lease cost than the smaller IONIQ 5. The three-row model advertises a starting monthly payment of $419. With $4,999 due at signing, the total effective cost for a 36-month lease is $557 per month.

The IONIQ 5, currently the top-selling non-Tesla electric vehicle in the United States, offers a higher effective lease price for shorter terms. The standard-range IONIQ 5 SE leases from $359 per month for 24 months. Including the same $4,999 down payment, the effective cost rises to $567 per month. The extended-range SE RWD model costs $369 per month for 24 months, or $577 effective.

Price parity emerges when the lease terms align. Extending the IONIQ 5 SE lease to 36 months with the same down payment reduces the monthly payment to approximately $412. The effective cost becomes $550 per month. This places the smaller SUV only $7 less expensive than the larger IONIQ 9 for the same duration.

The IONIQ 9 provides substantial additional interior space and range compared to the IONIQ 5. The base IONIQ 9 SE offers an EPA-estimated range of up to 335 miles. It features three rows of seats with options for six or seven passengers. The vehicle holds up to 163.54 cubic feet of interior passenger volume. The IONIQ 5, a midsize SUV comparable in size to the Tesla Model Y, seats five and holds up to 106.5 cubic feet. Its standard range is 245 miles, while the extended range model reaches 318 miles.

Sticker prices remain distinct between the two models. The IONIQ 5 starts at $35,250 for the standard-range SE. The IONIQ 9 starts at $58,955. The price difference is nearly $24,000. Hyundai cut IONIQ 5 prices by as much as $10,000 on some trims after the federal EV tax credit expired at the end of September 2025.

Both vehicles are manufactured at Hyundai's Metaplant America facility outside Savannah, Georgia. Hyundai reported that its electric SUVs attract new buyers at a higher rate than its gasoline or hybrid models. The IONIQ 5 recorded a 69.8% conquest rate last year. The IONIQ 9 recorded a 64.3% conquest rate.

The IONIQ 5 maintains its position as the third most popular electric vehicle in the US market. It trails only the Tesla Model Y and Tesla Model 3. The IONIQ 5 outsells competitors including the Chevy Equinox EV, Ford Mustang Mach-E, and Toyota bZ.