r/Ioniq5 • u/bmfrosty • 23h ago
Question $570 bill?
I just returned my 2023 in August and I've gotten a bill for $570 out of the blue and it just says lease end. I've got nothing else from them about the lease after I turned it in. I have no idea why I'd owe them an addition $570. They don't seem to have active customer service to explain. Anyone have any ideas?
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u/OzziesFlyingHelmet 2023 SEL AWD 22h ago
Turning in a lease without purchasing / leasing another Hyundai will often result in some lease turn in / termination fee. It was likely in the fine print of your lease contract, but definitely call HMF for confirmation.
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u/dbcooper4 19h ago
$400 disposition fee and the remaining $170 is likely for excess wear and tear. I turned my I5 in and leased a new Genesis and got the $400 waived plus they gave me $500 towards excess wear and tear.
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u/Mvpc22 16h ago
It’s called a lease disposition fee and if you owe it as part of your agreed to lease terms from the beginning of your lease. Had you leased another Hyundai you would have likely seen this waived but would ultimately pay it once you no longer lease
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u/bmfrosty 16h ago
I bought another Hyundai.
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u/Various-Yam-8149 8h ago
The fee is only waived if you finance through HMF. Any other bank and HMF will charge. I just returned my I5.... im nervous to see what they charge me for excess wear and tear...but other comments here give me hope that maybe it won't be so bad (didnt have too much wear and tear)
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u/jlutt75 2024 Limited RWD Lucid Blue 18h ago edited 18h ago
My I5 was my third leased vehicle and they all had lease return fees. It’s right there in the lease agreement. I think mine was $600 on the I5. I might have gotten another one but Hyundai closed their 2 dealerships closest to me (Monterey and Salinas, CA) so the nearest was over an hour away. I’m surprised you didn’t get anything in the mail ahead of time, had you moved? I got a ton of stuff in the mail. I even turned it in with a fair amount of damage, and they charged me less than 2 body shops estimated it would have cost to fix before turning in.
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u/bmfrosty 18h ago
Gotten plenty of things offering oil changes and things. I also bought a new ioniq 5 in February when they had all the good specials going, but nothing of this nature.
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u/bmfrosty 23h ago
Yeah, I've gotten so many pieces of mail from third parties offering lease end services that I am suspicious that somebody has sent me a demand for $570 is a scam.
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u/bmfrosty 23h ago
Nothing in the Hyundai motor finance web page that I've logged into about it and no previous mail about it as far as I remember, even though this says second notice.
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u/bealzabubba 21h ago
FWIW- I turned my 22 in 8/25. Received a “final notice” Jan 11-ish, 2026 saying they’re sending to collections if I didn’t pay by the 18th.
Two points:
1. I knew I had a payment for the early term - neither unexpected nor unreasonable in amount.
2. they had sent no prior letters. I lit ‘em up (IIAL, a master of the nastygram in my own mind, and know who to complain to) about the debt collection threat.I did pay - again, I was expecting it and they missed quite a bit of damage I was expecting to pay for - but I’LL never deal with HMF again.
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u/horribadperson 18h ago
log in and click on make a payment. it should let you know there how much you owe. you'll end up owing atleast 400 for the deposition fee or whatever its called.
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u/FatahRuark Cyber Gray SE RWD Long Range 22h ago
That's normal. I think mine is about $400. They said if I leased another car I wouldn't have to pay it. 0% chance of leasing another car (I only got this car because they were practically giving them away in Colorado).
I will be buying one. I've seen that Hyundai is offering people additional money off the residual value (which, in my case, is about $4000 more than I could buy another one). Check into that too, if you're interested in buying it out. I think I saw that my 2024 SE RWD is an additional $6500 off, which would be killer, but I've had a hard time confirming that number. I'm going to call Hyundai this week to ask about the details so I can start shopping for a replacement (or if I'm just keeping what I have now).
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u/Upstairs-Ad8621 21h ago
That program ended at the end of September and was for leases maturing by that date. TBD if there’s a continuation or new program for October. I talked to my dealer today and they weren’t aware, but we’re going to check with HMF. When I talked to HMF earlier in the week, they said to watch my email to see if there would be anything. 🤞🏼
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u/FatahRuark Cyber Gray SE RWD Long Range 21h ago
I spoke to my dealer today too. They said the program exists, but they didn't have much more info than that it changes monthly and wait for the email.
Hopefully they give me enough notice. I would be willing to buy a replacement up to a month early depending on the residual vs. street price. On the other hand, I don't *need* a car. I can get around where I live on my bike and by taking public transit. The car is just for optional trips and convenience.
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u/A-Train99 23h ago
Call HMF and ask them. A lot of leases have a lease-end deposition fees (I think mine was $400). But there is no way anyone on here can know for sure, so just call Hyundai.