Hyundai Kona Rolls Out of the Gate With a Less-than-ideal Lease

As we told you earlier this month, Hyundai’s newest offering, the B-segment Kona crossover, arrived with a base price below that of its subcompact competition. At $20,450 after delivery for a base, front-drive SE, the Kona slots below the entry MSRPs of the Honda HR-V, Toyota C-HR, Chevrolet Trax, and Mazda CX-3.

Value, the Kona trumpets, has arrived.

Well, not if you’re leasing the Kona’s volume trim: the SEL model.

As exposed by CarsDirect, a national lease introduced by Hyundai on Friday serves up a pretty unappealing deal for the Kona most lessees will want.

The offer sees a Kona SEL going for $269 a month (for 36 months), with $2,399 due at signing. That works out to $336 a month for a vehicle selling for $22,100 after delivery. While the SEL adds niceties like driver assistance features, the interior stays pretty much stock. No leatherette in sight. Power comes by way of a 2.0-liter four-cylinder making 147 hp and 132 lb-ft of torque, paired with a six-speed automatic. (Going up a rung on the trim ladder brings a 1.6-liter turbo into the equation.)

The lease really starts to smell when you contrast it with the mid-level Kona’s competition.

Less money gets you into an HR-V EX-L with navigation. Honda’s currently offering that model for $239 a month for 36 months, with $2,999 due at signing; or, an effective cost of $322 per month. And that’s for a model costing nearly four grand more.

Even elsewhere in the Hyundai range, there’s deals capable of swaying a would-be Kona lessee into a larger vehicle. Despite an MSRP $3,800 higher than the Kona’s, the Santa Fe Sport can be had for $249 a month for 36 months, with $2,799 due at signing. This works out to $327 a month.

This offer might not be around for long, as current lease deals run out at the end of the month. Still, it’s food for thought for those eager to drive the newest B-segment on the block. Besides this odd lease, the Kona’s pricing, plus its list of standard or available content, does amount to a serious challenge to rivals in the subcompact field.

Only the model’s avant-garde appearance stands in the way of value-minded buyers, though who knows — it could be a help, not a hindrance.

[Images: Hyundai]