Subtract your current loan balance from your 2024 Hyundai IONIQ 6 market value. This gives your equity. Positive equity means your car is worth more than you owe. Lenders check the Loan-to-Value (LTV) ratio. LTV under 100% shows positive equity. Keep LTV below 125% to raise your refinance approval odds.
Your 2024 Hyundai IONIQ 6 holds strong value in ZIP 10281. Expect $35,000 to $42,000 for a model in good condition with average miles in early 2026. Lenders use retail values from Kelley Blue Book or Edmunds.
Step-by-Step Guide to Calculate Equity
Follow these steps for your IONIQ 6:
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Find your loan balance. Check your latest statement or call your lender. Use the payoff amount.
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Get your car's value. Go to Kelley Blue Book, Edmunds, or NADAguides. Enter year (2024), make (Hyundai), model (IONIQ 6), ZIP 10281, mileage, and condition. Pick the retail value.
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Calculate equity. Equity = Car Value - Loan Balance. Example: Car worth $38,000, you owe $30,000. Equity = $8,000.
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Compute LTV ratio. LTV = (Loan Balance / Car Value) x 100. Example: ($30,000 / $38,000) x 100 = 79% LTV. This rate works well for refinance.
LTV over 100% means negative equity. You owe more than the car is worth. Pay down the loan first.
| Scenario | Car Value | Loan Balance | Equity | LTV |
|---|---|---|---|---|
| Positive | $38,000 | $30,000 | $8,000 | 79% |
| Negative | $37,500 | $40,000 | -$2,500 | 107% |
Refinance Eligibility Rules
Most lenders require:
- LTV below 125%.
- Car under 10 years old. Your 2024 IONIQ 6 qualifies.
- Under 120,000 to 125,000 miles.
- 12+ months left on current loan.
- Loan active 90+ days.
- Payoff between $4,000 and $99,999.
EVs like the IONIQ 6 hold value well in New York areas such as ZIP 10281. Add local taxes and fees to your math.
Tips to Improve Your Equity Position
- Pay down principal to lower your balance.
- Wait for value to rise or pick the highest solid estimate.
- Avoid rolling negative equity into a new loan. It raises costs.
- Boost your credit score for better rates.
Example in ZIP 10281: 2024 IONIQ 6 SE with 20,000 miles in good condition values at $37,500. Owe $32,000? LTV = 85% (strong equity). Owe $40,000? LTV = 107% (negative; pay down first).
Sidekick tracks your IONIQ 6 value, loan balance, and LTV. It sends alerts when refinance looks good.