Don't Freak Out About The Hyundai Veloster N Price Increase

Pricing / 6 Comments

It may not amount to much.

Earlier this year, the 2021 Hyundai Veloster N was announced with major upgrades over the previous model year. The affordable hot hatchback now offers an optional eight-speed dual-clutch, in addition to the standard six-speed manual that was the only transmission choice in 2020. Along with the new transmission, the 2021 Veloster N also improves the interior with an eight-inch touchscreen navigation system, bolstered sports seats, and more standard driver-assist features.

As a slight downside to all of these improvements, they do not come for free. According to leaked dealer order guides, the 2021 Veloster N starts at $33,245 (including a $995 destination charge). That's a $4,670 increase over last year's model, not even factoring in the $1,500 DCT option. As it turns out though, this price bump may not amount to much in practice.

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According to CarsDirect, the same outlet that reported on pricing, the 2021 Veloster N will only cost $10 more per month to lease compared to the 2020 model despite a massive difference in MSRP. A bulletin sent to dealerships specifies that the Veloster N with a six-speed manual transmission will lease for $429 per month for 36 months with $2,599 due at signing. Based on a $33,245 MSRP and an allowance of 10,000 miles per year, the effective cost of this lease is $501 per month.

Right now, the 2020 Veloster N is advertised with a $419 per month lease for 36 months with the same down payment. The mileage cap is the same, and after factoring in a $28,595 MSRP, the effective cost is $491 per month.

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This means the new Veloster N, with its various interior improvements, only costs $10 more per month to lease. To achieve such a small difference in lease price, Hyundai Finance is offering a lower money factor plus a small cash incentive.

If you plan to buy a Veloster N rather than lease, you can purchase a 2021 model at 1.9% APR financing for 60 months or 2.9% for 72 months. These are the same rates as the 2020 model, though the old car is available with 0% financing for 48 months.

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Source Credits: CarsDirect

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