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One hopeful 2025 Hyundai Ioniq 6 buyer is considering an electric vehicle with a questionable title. Should he provide a forever home for a well-worn electric vehicle? What’s this thing worth, anyway?
Today, in a popular Hyundai Ioniq EV social media group, the owner of a Chevy Bolt posted up a question asking for help. The Bolt owner is considering buying a Lemon Law buyback 2025 model-year Ioniq 6 SEL AWD. The car must have had a serious issue, because it is for sale used following its buy-back with only 735 miles. Yikes. Talk about a risky “investment.” Here is what the shopper seeking your help posted:
I'm considering a 2024 Ionic 6 SEL AWD Long Range 20" wheels with 735 miles in Ultimate Red. It's a buyback/lemon title. Being sold at a Hyundai dealer. The reason was the Battery, and it got replaced. What is a fair price for this?
The shopper has already confirmed that the car comes with a warranty. It will come with a 5-year, 60,000-mile Limited Warranty on the vehicle itself, and a 10-year, 100K-mile Hyundai battery warranty. That sure helps with the risk management, but the fact that Hyundai forced the first owner to go to the trouble of a Lemon Law lawsuit gives us pause. (Let’s assume the shopper's facts are as presented.)
The Upside and Equivalent Offerings
Anyone crazy enough to pay real money for a Lemon Law return knows that the vehicle has greatly diminished value. That means one can expect to pay significantly less than the market value of a similar vehicle that a dealer failed to fix after three or more attempts - and couldn’t! We’ve perused the online listings for Ioniq 6 cars (so many available for such an extremely low-volume car!) It looks like the fair market value is between $25K and $30K if the car has a “normal” title and no damage. Could this car with an MSRP new of $51K be sold for as little as half its new car price tag? Imagine if it all went well, what a steal that would be.
The Downside and The New Vehicle Twist
One interesting twist is that Hyundai is having a heck of a time shifting the Ioniq 6 right now. So much so that if you click on the Build tool on Hyundai’s public site, you are practically beaten about the head and neck with cash on the dash offers. Before you even finish the Build, Hyundai is throwing $7,500 in cash back at you. Imagine what you could get if you drove a hard bargain? It’s not out of the realm of possibility that a dealer with new, unloved leftovers on the lot may let one go for $40K. Couple that with the possibility of a crazy giveaway lease deal, and suddenly, the prospects of a new Ioniq 6 at a crazy low price come into focus. For example, one of the members of this group, who we have communicated with previously, has an AWD Ioniq 6 she paid $39K for new on a clean title. Another owner said, “I just bought the same exact car, but a 2023. Same color. I bought it from a dealer (returned lease). I paid $26,000. It had 8000 miles on it”
What Do Owners of Ioniq 6 Cars Say?
Some Hyundai EV owners are very skeptical of buying this car. Here are a few comments they offered:
CM - “Why buy someone else’s problems? Lease a new one. Depreciation is stupid on electric cars.”
TLD - “You won’t get any $$ for it if you wanted to trade in a few years down the road. The title is altered, and you take a big hit when getting rid of it. Went through this with a VW a few years back.”
GDR says, “I would avoid. When I researched my Ioniq 6, there were numerous shady dealers that obfuscated the condition of their vehicles online.” (To be clear, this is not TN talking here. The Hyundai dealers we work with are honest and helpful.)
Many owners were upbeat about the car. Some of those who said a qualified “Yes” to buying it at a low price said this:
ER - “As long as you guys plan on keeping it till the wheels fall off, yeah..”
RJ - “Sounds like a great car to me. Love my 2023 SE RWD.”
GA - “I bought one from a Hyundai dealer in Ohio that was a buyback as well. It’s perfect. I paid just under 22, but it had 21,000 miles.”
About the Hyundai Ioniq 6 SEL AWD
The Ioniq 6 is a great car to drive. We’ve tested it twice and loved it. In our review of the Limited trim, we said, “...one of the most satisfying sedans we have ever driven.” The whopping 446 lb-ft of torque is the reason for that great experience. The strong sensation of being pulled along in all scenarios makes it almost like a refined muscle car. The range is nearly 300 miles when full, and nothing charges faster than a Hyundai Ioniq EV on a DC charger.
What Advice Would You Offer This Shopper?
We’ve presented both sides of the argument. What advice would you offer this shopper? Tell us in the comments below, and don’t be shy.
John Goreham is the Vice President of the New England Motor Press Association and an expert vehicle tester. John completed an engineering program with a focus on electric vehicles, followed by two decades of work in high-tech, biopharma, and the automotive supply chain before becoming a news contributor. He is a member of the Society of Automotive Engineers (SAE int). In addition to his fourteen years of work at Torque News, John has published thousands of articles and reviews at American news outlets. He is known for offering unfiltered opinions on vehicle topics. You can connect with John on LinkedIn and follow his work on his personal X channel or on our X channel. John employs grammar and punctuation software when proofreading, and he sometimes uses image generation tools.
Top of page image courtesy of Hyundai
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