The 2026 Hyundai IONIQ 5 remains one of the most affordable EVs on the market, starting at $35,000. It’s even more attractive with a $10,000 discount.
Hyundai IONIQ 5 voted best-of-the-best EV
After going on sale in the US in late 2021, Hyundai’s electric crossover SUV quickly won over buyers with a bold new design, fast charging, long driving range, and a comfortable interior.
The IONIQ 5 has remained one of the best-selling EVs over the past four years. However, for the 2025 model year, Hyundai upped the ante, launching the US-built 2025 IONIQ 5 with more driving range (up to 318 miles), improved styling inside and out, and a built-in NACS port for charging at Tesla Superchargers.
After the federal $7,500 EV tax credit expired at the end of September, Hyundai cut prices on 2026 models by up to $9,800.
The company said the lower prices “reflect Hyundai’s commitment to affordability and its long-term EV strategy” in the US.
According to Kelley Blue Book’s 2026 Best Buy Awards, the 2026 Hyundai IONIQ 5 is the best overall electric vehicle you can get your hands on. Hyundai’s price cuts place “the IONIQ 5 among the most competitive in terms of EV pricing,” KBB said, “making this best-of-the-best EV approachable to an even wider set of shoppers.”
The 2026 Hyundai IONIQ 5 starts at just $35,000. That’s for the base SE Standard Range model, with an EPA-estimated driving range of 245 miles.
Meanwhile, the extended-range SE RWD trim, starting at $37,500, delivers an EPA-estimated range of up to 318 miles. With 800V/350 kW DC ultra-fast charging, the IONIQ 5 can add up to 178 miles in as little as 15 minutes.
Inside, the IONIQ 5 is surprisingly spacious. Although it’s about the same size as the Tucson, the IONIQ 5 has a longer wheelbase than the three-row Palisade.
The interior, although relatively minimalistic, is loaded with modern tech. At the center of it is a dual 12.3″ driver display and touchscreen infotainment screens with standard wireless Apple CarPlay and Android Auto.
Hyundai IONIQ 5 price, range, and monthly lease rate
As part of its new Getaway Sales Event, Hyundai is offering a $10,000 bonus cash discount on all 2026 IONIQ 5 trims this month. At that, the discount could potentially bring prices down to as low as $25,000.
| Hyundai IONIQ 5 Trim | Driving Range (miles) | 2026 Starting Price* | 2026 Monthly Lease Price in February |
| IONIQ 5 SE RWD Standard Range | 245 | $35,000 | $259 |
| IONIQ 5 SE RWD | 318 | $37,500 | $269 |
| IONIQ 5 SEL RWD | 318 | $39,800 | $309 |
| IONIQ 5 Limited RWD | 318 | $45,075 | $399 |
| IONIQ 5 SE Dual Motor AWD | 290 | $41,000 | $339 |
| IONIQ 5 SEL Dual Motor AWD | 290 | $43,300 | $379 |
| IONIQ 5 XRT Dual Motor AWD | 259 | $46,275 | $419 |
| IONIQ 5 Limited Dual Motor AWD | 269 | $48,975 | $469 |
Or, you can opt for 0% APR financing for up to 72 months, plus an extra $5,000 off. The least expensive 2026 Hyundai IONIQ 5 is available to lease for $259 a month with $3,999 due at signing.
Hyundai isn’t the only automaker offering big discounts this month. GM introduced an up to $10,000 cash allowance on the 2026 Chevy Equinox EV. The base LT trim is available with a $6,500 discount, bringing the starting price down to around $30,000.
Although that’s only slightly more than the new 2027 Chevy Bolt EV, the electric Equinox offers more range (up to 319 miles) and more interior space.
Top comment by Leonard Bates
We've rented several EVs on vacations in order to test drive different makes/models. The Ioniq 5 is the clear winner. Just feels right when you sit in it and the interaction with the road was lively and engaging. Going to buy one this summer.
BTW, the Tesla MY was the biggest disappointment. Lots of really cool tech, but the ride was rougher in challenging conditions and it felt bloated.
What about when compared to the IONIQ 5? The $35,000 IONIQ 5 SE Standard Range trim only offers 245 miles, compared to the Chevy Equinox LT 1 with up to 319 miles. It starts at just $36,495. For $37,500, the longer range IONIQ 5 delivers up to 318 miles of range.
The Chevy Equinox EV boasts up to 57.2 cu ft of space and a 17.7″ infotainment screen on the interior. The Hyundai IONIQ 5 offers up to 59.3 cu ft of cargo space and a dual 12.3″ driver display and infotainment system setup.
Which one are you choosing? The Hyundai IONIQ 5 or Chevy Equinox EV? Let us know in the comments below. Hyundai and Chevy’s deals end on March 2, 2026.
Interested in checking one out for yourself? We can help you get started. Check out the links below to find the Hyundai IONIQ 5 and Chevy Equinox EV in your area.
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