Hyundai Ioniq 5 Financing: Rates and Monthly Payments (2026)
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The Ioniq 5 is one of the best-regarded used EVs on the market -- strong range, fast charging, and a depreciation curve that has stabilized after the 2022-2023 price reset. Here's how to finance one at a competitive rate.
Current Tenet EV Loan Rates
| Credit Score | Starting APR |
|---|---|
| 800+ credit score | 4.99% APR |
| 760+ credit score | 5.19% APR |
| 720+ credit score | 5.94% APR |
| 680+ credit score | 6.49% APR |
| 620+ credit score | 7.74% APR |
Rates as of 2026. Actual rate depends on credit profile, loan term, and vehicle. Checking your rate has no credit impact.
Monthly Payment Examples
| Vehicle | Price | Rate | Term | Monthly |
|---|---|---|---|---|
| 2023 Hyundai Ioniq 5 AWD (used) | $32,000 | 5.19% APR | 72 mo | $519/mo |
| 2022 Hyundai Ioniq 5 RWD (used) | $26,500 | 5.94% APR | 72 mo | $441/mo |
| 2023 Hyundai Ioniq 5 AWD (used) | $32,000 | 5.19% APR | 84 mo | $453/mo |
Illustrative examples based on published rates. Actual rate depends on credit profile.
Ioniq 5 vs. Tesla Model Y: Which Costs Less to Finance?
Used Ioniq 5 prices currently run $4,000 to $8,000 below comparable used Model Y prices for similar model years. At the same interest rate, the lower purchase price translates directly to a lower monthly payment. For buyers focused on total cost the Ioniq 5 is consistently the more affordable choice, though a used Model Y carries stronger resale value over a longer holding period.
Hyundai Motor Finance vs. Tenet
Hyundai Motor Finance offers new vehicle financing at the point of sale. For used Ioniq 5 purchases, HMF financing may or may not be available depending on where you buy. Tenet finances new and used Ioniq 5 vehicles from dealers, Carvana, CarMax, and private sellers in 35 states. Rate comparison before signing takes two minutes and has no credit impact.
Does the Ioniq 5 Qualify for the Used EV Tax Credit?
Used Ioniq 5 vehicles may qualify for the federal $4,000 used EV tax credit if the purchase price is at or below $25,000 and buyer income limits are met. At current used market prices, some 2022 Ioniq 5 RWD models fall within this threshold. The credit applies regardless of which lender you use.
Before You Go
Checking your rate with Tenet takes two minutes and won't affect your credit score. Tenet finances new and used EVs and hybrids in 35 states – including private party, Carvana, CarMax, and dealer purchases – with no dealer markup and 24-hour funding. NMLS #2262929.