Hyundai Lease Deals May 2026: Every Model Ranked

Hyundai Motor Finance's May 2026 programs remove the bizarrely low sub-1% APRs from March, moving the entire lineup into a more standard 4.8–5.5% APR band. Deal quality this month is entirely dictated by Lease Cash allocations.

The standout value is the Tucson SE FWD. With $4,000 in Lease Cash and a 62% residual, it drops to an effective payment of ~$320/month. On the electric side, the IONIQ 5 SE Standard Range RWD remains the lowest-cost EV at ~$397/month thanks to $7,250 in cash support. If you are shopping Hyundai in May, ignore the money factor and follow the manufacturer cash.

May 2026 Lineup: Lease Cash Dictates Value

The extreme rate subsidies we saw in March (like the 0.67% APR Tucson XRT) are gone. Hyundai has standardized money factors across the board, with almost all ICE vehicles sitting between 0.00203 and 0.00232 (4.8% to 5.5% APR). Because rates are uniform, payment gaps between trims are driven entirely by residual values and non-conditional Lease Cash.

Tucson — SE FWD Drops to ~$320/mo

In May, the Tucson SE FWD gets a massive $4,000 Lease Cash injection. When combined with a 62% residual and a 0.00223 MF (5.35% APR), the $31,050 MSRP base trim yields a ~$320/month pre-tax payment. This makes it the clear standout value in the entire Hyundai ICE lineup.

The XRT trims no longer carry the sub-1% APR from March. XRT AWD is back to a market-rate 0.00227 MF (5.45% APR) but does get $3,000 in Lease Cash to offset the rate hike, landing at ~$388/month pre-tax.

Tucson Hybrid — Blue SE From ~$366/mo With $2,750 Cash

The Tucson Hybrid lineup offers some of the best money factors among non-PHEV Hyundai models. The Blue SE gets $2,750 in Lease Cash with a 0.00214 MF (5.14% APR) and a 65% residual, yielding ~$366/month. The SEL trim stands out with an unusually low 0.00201 MF (4.82% APR) — one of the sharpest rates in the hybrid lineup — though less cash ($1,750) and the same residual push the payment to ~$403/month.

The SEL Convenience adds a notably strong 68% residual — the highest in the Tucson Hybrid lineup — but a higher MF of 0.00223 means the rate advantage of the SEL doesn't carry over. The Limited's $49,900 MSRP creates a large price jump from the SEL Convenience and makes it the weakest value per dollar.

Tucson PHEV — Lowest Money Factor in the Entire Lineup

The Tucson Plug-In Hybrid carries the best money factors of any Hyundai model in May: SEL at 0.00215 (5.16% APR) and Limited at 0.00192 (4.61% APR) — the lowest MF in the entire Hyundai May program. The Limited also gets the most cash at $3,250, but its $49,795 MSRP keeps the payment at ~$545/month. The SEL at $41,570 with $2,750 cash and a dominant 68% residual hits ~$436/month.

Elantra — SE IVT Is a Hidden Gem at ~$254/mo

The Elantra SE IVT receives $2,500 in Lease Cash — more than any other Elantra trim — paired with a 0.00214 MF (5.14% APR) and 63% residual. The result is a ~$254/month pre-tax payment on a $23,870 base price, making it one of the most affordable new-car lease payments in the entire Hyundai lineup.

No other trim gets meaningful cash: the SEL Sport gets just $250, and the SEL Sport Premium, N-Line, and Limited receive $0. This makes the SE the only Elantra trim that makes sense to lease in May.

Elantra Hybrid — Blue Trim Gets $1,750 Cash

The Elantra Hybrid Blue trim pairs a 0.00218 MF (5.23% APR) with $1,750 in Lease Cash and a 65% residual on its $26,695 MSRP, landing at ~$303/month. The SEL Sport and Limited trims receive no lease cash, and their higher MFs push payments to ~$368 and ~$425 respectively — making the Blue the clear choice.

Kona — Cash-Heavy at Entry Level

The Kona lineup concentrates lease cash in the lower trims: the SE FWD gets $2,750 and the SE AWD gets $2,500. With a 0.00211 MF (5.06% APR) and 57% residual, the SE FWD lands at ~$331/month. The SE AWD with 59% RV hits ~$350/month — a surprisingly small AWD premium.

As you move up the lineup the cash thins out quickly. The SEL Sport AWD gets only $2,000, the SEL Premium AWD $1,750, and the Limited trims $1,000–$1,250. The Limited AWD's 63% residual is the best in the lineup but insufficient to offset the higher MSRP and minimal cash.

Venue — Low Payments Undercut by a Weak Residual

The Venue's small footprint and entry-level MSRPs create the lowest absolute payments in the lineup, but a 56% residual means you're financing a large share of the car's depreciation. The SE at ~$344/month and SEL at ~$364/month are affordable, but a 56% residual at 36 months is among the worst retention figures in the Hyundai lineup. The SEL w/Two-Tone Roof carries a penalty MF of 0.00245 (5.88% APR) — the highest in the entire Hyundai May program. Avoid it.

Sonata — SE FWD Remains the Value Trim

The Sonata SE FWD runs a 0.00203 MF (4.87% APR) with $2,250 in Lease Cash. The residual is low at 59%, but the cash injection keeps the payment down to ~$358/month.

The SEL Sport gets less cash ($1,250) and a higher MF (0.00232 / 5.57% APR), pushing the payment up to ~$410/month. The extra $52/month goes purely toward a worse rate and less manufacturer support.

Sonata Hybrid — Blue Trim Remains the Value Anchor

The Sonata Hybrid Blue gets $750 in Lease Cash with a 0.00221 MF (5.30% APR) and a 64% residual on its $30,295 MSRP, landing at ~$390/month. The SEL drops the cash to $0 but gains a better 0.00214 MF (5.14% APR), pushing the payment to ~$462/month on a $33,545 MSRP. The Limited receives just $250 cash and a weaker 61% residual, making it the worst value at ~$545/month.

Santa Fe — Consistent Rates, Moderate Cash

The Santa Fe lineup sees MF consolidation this month, with almost every trim hovering around 0.00227 (5.45% APR). The SE FWD is the payment floor at ~$459/month.

Santa Fe Hybrid — SE FWD Leads at ~$468/mo

The Santa Fe Hybrid SE FWD carries the best money factor in the lineup at 0.00212 (5.09% APR) with $750 in Lease Cash and a 64% residual, landing at ~$468/month. The SE AWD adds $1,350 to the MSRP but gets a 65% residual with a lower cash allotment of $500, yielding ~$492/month.

A critical warning: the Limited AWD trims carry a 0.00238 MF (5.71% APR) — the highest rate in the Santa Fe Hybrid lineup — and Calligraphy AWD also runs 0.00236. Both carry only $500 cash. These upper trims are rate-penalized with minimal cash support, pushing payments to ~$667 and ~$741 respectively.

Santa Cruz — Low Cash Limits Lease Appeal

The Santa Cruz pickup/crossover receives minimal lease support in May — maximum cash tops out at $750 (SE FWD and SEL FWD). The SE FWD at ~$415/month and SE AWD at ~$449/month are the most rational options. Above the SE tier, cash support collapses to $0–$500 while MSRPs climb significantly.

The XRT AWD and Limited AWD are poor lease propositions: $250 and $500 in cash respectively on $42,950 and $44,945 MSRPs result in ~$637 and ~$642/month payments. The SEL Activity trims carry low 58–59% residuals that accelerate depreciation cost.

Palisade — High Residuals Drive The Deal

The Palisade continues to boast some of the strongest residuals in the 3-row mainstream class, with the SEL 7P/8P trims carrying a massive 69% residual. This dramatically flattens the depreciation curve.

An outlier exists on the Limited AWD: Hyundai gives it a heavily subsidized 0.00090 MF (2.16% APR) but drops the residual to 59%. The massive depreciation hit nullifies the rate advantage, placing the payment at ~$670/mo.

Palisade Hybrid — Strong Residuals, Nearly Zero Cash

The Palisade Hybrid receives effectively no lease cash in May — the maximum is $250 on SEL 7P/8P AWD trims, and most variants get $0. The value case rests entirely on strong residuals: Blue SEL trims hold 67% and SEL variants hold 67–68%. Without cash support, every dollar of payment reflects MSRP depreciation and the rent charge.

The Blue SEL FWD trims at ~$589/month are the entry point. The SEL Premium AWD trims carry the lineup's best MF at 0.00214 (5.14% APR), but the $50,200 MSRP keeps them at ~$665/month. Calligraphy trims push into ~$875–$894/month territory with no cash on $60,500–$62,500 MSRPs.

IONIQ 5 — $7,250 Lease Cash Floors The Standard Range

The IONIQ 5 lineup features heavy manufacturer cash support. The SE Standard Range RWD gets $7,250 in Lease Cash, cutting its $38,200 MSRP down to an effective ~$30,950 cap cost and yielding a ~$397/month payment.

If you want the larger battery, the SE RWD gives you 318 miles of range for ~$403/month ($7,500 Lease Cash).

IONIQ 9 — Massive Cash Makes the 3-Row EV Surprisingly Affordable

The IONIQ 9 launches with $14,500–$16,750 in Lease Cash — the largest incentive amounts in the Hyundai lineup — which dramatically offset its $60,555–$79,090 MSRP range. The S RWD drops from $60,555 to an effective ~$45,555 cap cost and yields a ~$486/month payment. That is a competitive figure for a 3-row electric SUV.

The SEL AWD gets the most cash at $16,750, landing at ~$521/month on a $66,320 MSRP. Performance trims balloon quickly — Performance Limited AWD hits ~$654/month and the Calligraphy variants reach ~$774–$808/month, where the cash no longer keeps pace with the MSRP escalation.

Payment Calculation Assumptions

Residuals and money factors can change monthly.