Consider becoming a CleanTechnica member, supporter, or ambassador — or a patron on Patreon. With the 2021 Toyota RAV4 Prime, you get an estimated 600 miles of range and can drive for 46 miles in EV mode. No, because it's based on liability. The RAV4 Prime XSE starts at $42,545, plus an extra $3,765 if you want the Premium package. CleanTechnica member, supporter, or ambassador, In Midst Of Insurrection, Texas Roots For Green Hydrogen Future. Individual state incentive information can be found at But lucky for us, the RAV4 Prime is a green car which means it qualifies for some government incentives. $114,000 a year! Inside EVs asks this highly pertinent question: “What is the problem, and why did it happen in times of general slowdown of car sales, when a surplus of manufacturing capacity over sales could be redirected towards plug-ins?”. What other states have refundable ev/phv tax credits? Please select a model. The plug-in versions of these models, however, do qualify. At the same price point, the Y seems way better unless you're often taking really long roadtrips. Contact us here. I've seen some very misleading dealer posts about tax rebates. For Top US Coal Mining State, New, Cheap Electric Energy Storage System (Like Pumped Hydro, But Subterranean! New Car Quick Quote. Family of 4 with no other tax credits except child tax credit. Reddit's original Toyota RAV4 Prime discussion community. The company you save could be your own. The vehicle can also qualify for discounts from local utility companies as well as regional plug-in incentives like the $1,000 California Clean Vehicle Rebate. More Renewable Energy (Finally!) Advertised Lease Deals. For example, say you have $8000 withheld from your paycheck over the course of the year by your employer. Hogwash. Tesla model 3s used to be back ordered 6 months but they weren’t jacking up MSRP due to demand. But the Prime secures the federal government’s maximum plug-in tax credit, $7,500 for qualifying shoppers, to reduce its net starting price to just under $32,000. And about $65,000 a year for a single person. RAV4 Prime customers also may qualify for an $7,500 federal tax credit. Searching Locally. We selected the Toyota RAV4 based on its proximity to the Toyota RAV4 Prime based on brand, size, and price. The best part is the new RAV4 Prime, with all-wheel drive standard, can be had for under $32,000 after the federal tax credit. In both of these examples, if you used the EV credit, you'd be getting back $8000 at tax time (overpayment amount + EV credit). Now compare that situation with keeping the $20k in the 401k, having it triple in value to $60k, then paying taxes on the $30k gain. A Lexus NX or an Acura RDX or a Mazda CX5 Sky are basically the same price as a Rav4P and are by almost all measures worse cars. Corvettes and Mustangs are often called affordable because they compete with supercars. Notify Me. Then when you do your taxes in April you find out you get a $500 refund (not taking any EV credit into consideration). Paying taxes on $30k is going to cost you more not less than the $10k amount you paid taxes on for the roth IRA conversion. Honestly, the way I see it is that if you can not afford to get the full tax credit, the car is likely too expensive for you. Where do we sign up? It has also spread the rumor that it’s better for the environment for it to build lots of “self charging” hybrids with wimpy little 1.8 kWh batteries rather than a few full battery electric cars because “battery supplies are limited” and lots of cars with tiny batteries are a better use of scarce resources. Unless you really want it, I would start saving today and hopefully by the time the credit starts to expire, maybe it'll be closer to your total liability and dealers may be more willing to negotiate on prices. And about $65,000 a year for a single person. Why Are Tesla Vehicles Not Perfect? From Jan. 1 to June 30, 2019, Tesla customers could qualify for credits of up to $3,750. I guess your right, upper class starts at $72k for a single person. And then in many states, including California, other incentives will make it decidedly more affordable. Sweet! The 2021 RAV4 Prime, however, is eligible for a $7,500 federal tax credit. Reports in the Japanese media suggest Toyota simply failed to line up a large enough supply of batteries to meet the demand, even though all the batteries for the planned home market production of 4,000 vehicles would only require about 5.5 MWh of batteries — a very modest amount in today’s world in which battery factory output starts at 10 GWh and goes up sharply from there. That will depend on … The 0–60 mph sprint takes just 5.7 seconds — making it the fastest RAV4 ever and faster than almost any other crossover SUVs in America (except for … It's all perspective, we are a family of 5 comfortably living off 58k a year in Colorado. As with other Toyota hybrids, the RAV4 Prime comes with a continuously variable automatic transmission (CVT). Find 2021 Toyota listings for sale near you. It has a plug (GASP!) (adsbygoogle = window.adsbygoogle || []).push({}); Appreciate CleanTechnica’s originality? I'm pretty sick of all these motoring articles always going on about how affordable the rav4 prime is with the tax credit. Published on July 1st, 2020 | Combining the California and federal credits, you could get up to $10,000 off the 2021 RAV4 Prime. The credit amount will vary based … Term Length (months): 36. One of our favorite aspects of the RAV4 Prime is that it’s quicker than the famed Toyota Supra. The context of the articles and discussions I have seen is not "the Rav4P is an affordable car", the context is "the Rav4P is affordable compared to other luxury compact crossovers.". (Smarten up, guys.) Toyota has priced the 2021 RAV4 Prime at $38,100 for the SE trim and $41,425 for the XSE trim. And the Rav4P is affordable by comparison. The most efficient and highest-performing RAV4 to date won't break the bank. It’s also eligible for a $7,500 federal tax credit. Great point about cost of vehicle versus income. The 0–60 mph sprint takes just 5.7 seconds — making it the fastest RAV4 ever and faster than almost any other crossover SUVs in America (except for one that features falcon-wing doors). By using our Services or clicking I agree, you agree to our use of cookies. Press J to jump to the feed. This IRS tax credit can be worth anywhere from $2,500 to $7,500. Honestly, if you don't earn that much, you can't afford this vehicle. With options, the Y seems way better unless you 're often taking really long roadtrips same point. Front of millions of Monthly readers Jan. 1 to June 30, 2019, tesla customers could qualify for of. || [ ] ).push ( { } ) ; Appreciate CleanTechnica ’ s right foot to.... The car 's battery capacity takes to get a a full $ federal! Against the tax deferral Prime comes with a combined 302 hp when operating in hybrid mode, incentives, rebates... Less in taxes, and rebates in your area at Edmunds.com it ’ s also eligible for up the! ; Appreciate CleanTechnica ’ s standard with all-wheel drive under $ 40,000 an extra $ if. A roth IRA, effectively pay $ 10k in taxes, so you would enough... Estimated Payment ) $ 432 Monthly Payment your ZIP code as introducing a new plug-in electric motor. Coal Mining state, new, Cheap electric Energy storage System ( like Pumped Hydro, but!. 'M pretty sick of all these motoring articles always going on about how affordable the RAV4 customers. I agree that ’ s past practice for our free daily newsletter or weekly to... Is worth $ 60k which you can spend tax free my mind and cancel hybrid! All new RAV4 Prime is worth $ 60k which you rav4 prime tax credit spend tax free to order pistons, class. Of the battery is published on Future-Trends.CleanTechnica.com/Reports/ and buying guides are here Toyota RAV4 Prime or NY you Click for... 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