IONIQ 9 Lease Effective Cost Hits $557 Monthly

Hyundai's largest electric SUV now costs less to lease than its smaller sibling. The 2027 IONIQ 9 carries an effective monthly payment of $557, which is lower than the cost to lease the IONIQ 5 on comparable terms. This pricing structure makes the three-row vehicle the more economical option for many shoppers.

The IONIQ 5 has been the best-selling non-Tesla electric vehicle in the United States through September. It outsells the Chevy Equinox EV, Ford Mustang Mach-E, and Toyota bZ. The model's popularity is driven by its entry price, which starts at $35,250 for the standard-range SE. Hyundai reduced prices by nearly $10,000 on some trims after the federal EV tax credit expired in September 2025.

Lease offers for the IONIQ 5 start at $359 per month on a 24-month term with $4,999 due at signing. That arrangement results in an effective cost of $567 per month. The extended-range version starts at $369 per month, or $577 effective. For a 36-month lease on the base model with the same down payment, the effective cost drops to $550. That figure is only $7 cheaper than the IONIQ 9.

The IONIQ 9 lease begins at $419 per month over 36 months with $4,999 due at signing. The effective monthly cost settles at $557. The vehicle starts at a MSRP of $58,955, which is nearly $24,000 higher than the base IONIQ 5. Despite the sticker price difference, the lease terms favor the larger SUV.

The IONIQ 9 offers more space and range than the IONIQ 5. The base IONIQ 9 provides up to 335 miles of EPA-estimated range. It features three rows of seating with a capacity for six or seven passengers. Interior passenger volume reaches 163.54 cubic feet. The IONIQ 5 is a two-row midsize SUV with up to 245 miles of range for the base model and 106.5 cubic feet of passenger space.

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 gas or hybrid models. The IONIQ 5 recorded a 69.8% conquest rate last year. The IONIQ 9 followed with a 64.3% conquest rate. The Elantra N, Palisade, and Kona Electric ranked lower in that metric.