IONIQ 9 Lease Costs $10 Less Than IONIQ 5

A three-row electric SUV now costs less to lease than its two-row sibling. The Hyundai IONIQ 9 offers a lower effective monthly payment than the IONIQ 5, which is the top-selling non-Tesla electric vehicle in the United States.

The IONIQ 5 has held the number three spot in national EV sales through September, behind only the Tesla Model Y and Model 3. It outsells the Chevy Equinox EV, Ford Mustang Mach-E, and Toyota bZ. Its market position rests on a low starting price of roughly $35,000 and aggressive lease promotions.

Hyundai cut IONIQ 5 prices by nearly $10,000 on some trims after the $7,500 federal tax credit expired in late September 2025. The 2027 IONIQ 5 standard-range SE now starts at $35,250. The extended-range SE RWD starts at $37,750. The IONIQ 9 starts at $58,955, a price that is nearly $24,000 higher than the base IONIQ 5.

Lease terms close the price gap. On Hyundai's website, the IONIQ 5 SE leases for $359 per month on a 24-month term with $4,999 due at signing. This results in an effective cost of $567 per month. The IONIQ 9 leases for $419 per month over 36 months with the same due-at-signing amount. This works out to an effective cost of $557 per month. Using Hyundai's calculator, the 2027 IONIQ 5 SE on a 36-month term costs about $412 per month, or an effective $550. The difference is only $7 per month.

The IONIQ 9 provides more utility for the similar cost. It seats six or seven people and offers up to 163.54 cubic feet of interior passenger volume. The IONIQ 5 seats five and offers up to 106.5 cubic feet. The IONIQ 9 also has a longer EPA-estimated range of up to 335 miles compared to the IONIQ 5's 245 or 318 miles.

Both vehicles are built at Hyundai's Metaplant America near Savannah, Georgia. Hyundai data shows electric SUVs attract new buyers at a higher rate than gas or hybrid models. The IONIQ 5 had a 69.8% conquest rate last year. The IONIQ 9 had a 64.3% conquest rate. The Elantra N ranked third at 61.9%.

The IONIQ 5 remains a viable option for drivers who prefer a smaller vehicle. It is roughly the size of a Tesla Model Y. The IONIQ 9 is a larger vehicle with three rows of seating.