With its distinctive retro-futuristic style, advanced 800V architecture, state-of-the-art 350 W fast charging, pleasurable driving dynamics, and spacious cabin, the Hyundai Ioniq 5 can make a strong case to be the best all-around affordable EV. If not the absolute best, it’s still one of our favorites.
It may feel like the Ioniq 5 just launched. But time flies in the automotive world, and the Ioniq 5 has been on sale for three years. That means plenty of used examples are hitting the market. And with the Ioniq 5 suffering particularly high depreciation — 32.9% after the first year — like a lot of EVs, a used version could become a very compelling option.
If you are thinking about a used Hyundai Ioniq 5, here are the questions you need to ask.
Which used Hyundai Ioniq 5 version should you buy?
Leaving the superpowered N version out of it, the pre-refresh Hyundai Ioniq 5 launched with three versions. The base model is the SE Standard Range, which has 168 horsepower, a 58 kWh battery pack and 220 miles of EPA range. The RWD model bumps up to 225 horsepower and a larger 77.4 kWh pack, delivering 303 miles of EPA range. The AWD model amps up the performance with 321 hp and 446 lb-ft, though it offers less range, only 260 miles.
We’d recommend ignoring the anemic standard range model. There’s a good value argument for the large battery RWD version. It has all the oomph you need for everyday driving and added range. However, AWD versions of the Ioniq 5 will be easier to find. Situations where the range differential will matter may be few and far between. And exclaiming “POWER!” like Jeremy Clarkson while uncorking that 446 lb-ft of torque is quite fun, if not a need per se.
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How much does a used Hyundai Ioniq 5 cost?
As noted, the Hyundai Ioniq 5 suffers substantial depreciation. So used versions — even sparingly used versions — can be quite affordable comparatively. A 2022 or 2023 Ioniq 5 model is typically priced between $25,000 and $35,000. Occasionally, one will pop on the market for less than $25,000 to qualify for the federal tax credit on used EVs. For comparison, large battery versions of the new Ioniq 5 start at $46,550 and can range into the mid-$50,000s.
What kind of warranty coverage does a Hyundai Ioniq 5 have?
Hyundai has sold the Ioniq 5 with a 5-year or 60,000-mile basic warranty and a 10-year or 100,000-mile powertrain warranty. Almost every Ioniq 5 on the road—except those subjected to extreme usage—should have life left under both warranty policies.
Are there any known issues with used Hyundai Ioniq 5 vehicles?
Hyundai Ioniq 5s, along with other Hyundai and Genesis EVs, were recalled for an issue with the Integrated Charging Control Unit that was causing 12V battery drain. Car and Driver had its longterm Ioniq 5 repaired for a rattle in the rear liftgate, a complaint owners have echoed on forums.
Winter visibility can be an issue; Ioniq 5s built before the 2025 refresh have no rear wiper to clear precipitation and winter sludge. The stock front wipers are also sub-optimal and can detach from the windshield, leaving streaks of water.
Should you worry about battery degradation with a used Hyundai Ioniq 5?
All lithium-ion batteries will lose capacity over time and with usage. We don’t have long-term data on the Ioniq 5 yet; it has been out for only three years. Recurrent data shows about a 5% capacity loss for the Ioniq 5 at 20,000 miles. One YouTuber/owner measured 1.4% degradation at 10,000 miles after 18 months.
Loss of range should not be too much of an issue for the current crop of used Ioniq 5s. Note that Hyundai repairs the Ioniq 5 battery under warranty at 70% capacity.
Should you just buy a new 2025 Hyundai Ioniq 5 instead of a used one?
The Ioniq 5’s depreciation suggests there’s value in buying used. However, with the generous incentives Hyundai has been offering on Ioniq 5s, you can also make a case for getting a new one instead. My cursory search revealed cash back and 0% APR financing for purchases and lease payments below $200 per month for the RWD model. And those deals could get even more generous — at least temporarily — with the Ioniq 5 now eligible for the $7,500 federal tax credit.
The new 2025 model, while not markedly different, also offers a larger battery with more range and added convenience features like the rear wiper and wireless smartphone projection.
