Bigger IONIQ 9 lease costs $10 less per month than the popular IONIQ 5

Leasing a three-row Hyundai IONIQ 9 currently costs less per month than leasing the smaller, more popular IONIQ 5. The effective monthly cost for the larger SUV is $557, which is lower than the effective cost of either IONIQ 5 trim available through Hyundai’s standard lease offers.

According to pricing on Hyundai’s website, the IONIQ 9 lease starts at $419 per month. This rate applies to a 36-month term with $4,999 due at signing. When the down payment is spread over the term, the total effective cost reaches $557 per month. By comparison, the standard-range IONIQ 5 SE leases for $359 per month on a 24-month term with the same $4,999 due at signing. That arrangement results in an effective cost of $567 per month. The extended-range IONIQ 5 SE RWD is slightly more expensive, with an effective monthly cost of $577.

The IONIQ 5 remains the best-selling non-Tesla electric vehicle in the United States. Through September of this year, it ranked as the third top-selling EV in the country, behind only the Tesla Model Y and Model 3. The IONIQ 5 outsells the Chevy Equinox EV, Ford Mustang Mach-E, and Toyota bZ. Its base price starts at $35,250 for the 2027 model year, following price cuts of up to $10,000 that Hyundai implemented after the federal EV tax credit expired in late 2025.

The IONIQ 9 starts at a higher purchase price of $58,955. Despite the higher sticker price, the lease structure makes it competitive on a monthly basis. The larger SUV offers an EPA-estimated range of up to 335 miles, exceeding the 245 miles available in the base IONIQ 5. The IONIQ 9 also provides significantly more space, with up to 163.54 cubic feet of interior passenger volume compared to 106.5 cubic feet in the IONIQ 5. The IONIQ 9 features three rows of seating, while the IONIQ 5 is a two-row, midsize SUV.

Both models are manufactured at Hyundai’s Metaplant America facility outside Savannah, Georgia. During a facility tour earlier this year, Hyundai officials stated that electric SUVs attract new buyers to the brand at a higher rate than gas or hybrid models. The IONIQ 5 recorded a 69.8% conquest rate last year, meaning that percentage of buyers were new to the Hyundai brand. The IONIQ 9 posted a 64.3% conquest rate, placing it above the Elantra N, Palisade, and Kona Electric in that metric.