$17,500 off by 1 Dec 2014, Production Ended August 2014
- Thread starter TonyWilliams
- Start date
Help Support Toyota Rav4 EV Forum:
Dsinned
Well-known member
Pushpak, the RAV4 EV wasn't even close to 10% as much off MSRP back in November, and TFS was only offering 1.9% APR financing then. Apparently, Toyota is having trouble selling RAV4s regardless of whether they are the standard models or EVs.
My apologies. In my last post, by "standard" I meant that a couple of dealers have mentioned "$12k off MSRP" in their email messages. In other words, the discount wasn't arrived at via a hard negotiation. I was not thinking of the ICE version. But I can see how it could be thus interpreted. I have added "EV" to my previous post.Dsinned said:
TonyWilliams
Well-known member
SOCAL:
Get 0.0% APR for 60 months PLUS $10,000 Finance Cash on a new 2012 RAV4EV
0.0% APR for 36 months, 0.0% APR for 48 months or 0.0% APR for 60 months
PLUS $10,000 Finance Cash
Includes Toyota Care
Trading in your current vehicle? Click here to get your free Black Book® Trade-in Value in just seconds!
Get more information on this offer, price quotes and possible internet discounts. Request a quote and Save Today!
Offer Ends 4/1/2013
NORCAL:
Get 0.0% APR for 48 months PLUS $8,800 Finance Cash
0.0% APR for 48 months
PLUS $8,800 Finance Cash
Not on TV
Offer Ends 4/1/2013
Get 0.0% APR for 60 months PLUS $10,000 Finance Cash on a new 2012 RAV4EV
0.0% APR for 36 months, 0.0% APR for 48 months or 0.0% APR for 60 months
PLUS $10,000 Finance Cash
Includes Toyota Care
Trading in your current vehicle? Click here to get your free Black Book® Trade-in Value in just seconds!
Get more information on this offer, price quotes and possible internet discounts. Request a quote and Save Today!
Offer Ends 4/1/2013
NORCAL:
Get 0.0% APR for 48 months PLUS $8,800 Finance Cash
0.0% APR for 48 months
PLUS $8,800 Finance Cash
Not on TV
Offer Ends 4/1/2013
fooljoe
Well-known member
Care to share the details?khaliss said:
Also, there seems to be some confusion regarding how the $10k Toyota cash works on a lease. Can anyone confirm this? Looking at Toyota's site, it seems to clearly show $529/mo for 36 mos with $0 drive off PLUS $10k Toyota cash. Someone else said that the $10k was factored in already, but PLUS in all caps seems to clearly contradict that.
If you get $10k back + $2500 from the state, that makes the effective monthly payment $182 + tax - cheaper than a Leaf S!!
Can anyone confirm this, because if this is the case I'm heading to a Toyota dealer to pick one up right away?
TonyWilliams
Well-known member
fooljoe said:
A lease will NOT include the $2500 from California, unless you write a check for $2500 at signing. You'll get a check from the state (after you apply) in a few weeks. I never recommend putting ANY money upfront on any lease. Your money is at risk if the car is stolen or totaled. I would just put the $2500 in the bank and smile. Also, I never recommend buying any extended warranty until just BEFORE the current warranty expires. Extended warranty on a lease is really crazy !!!!
http://energycenter.org/index.php/incentive-programs/clean-vehicle-rebate-project
The $10k in SoCal and $8.8k in NorCal is applied to the lease to reduce the capitalization cost at signing.
The $7.5k federal tax credit (form 8936) is NOT yours to claim in any lease, since you do NOT own the car. Every other manufacturer passes this on to the consumer as a capitalization reduction EXCEPT Toyota. In California, that lease is $500-ish monthly plus a monthly "use tax" that is the sales tax.
[PDF]
Form 8936 - Internal Revenue Service
http://www.irs.gov/pub/irs-pdf/f8936.pdf
It's a purchase, not a lease. I called simi valley toyota first (they quoted close to $39K pre-tax/fees, after $10K toyota cash discount, almost $43K OTD for me)
. Dianne slightly beat their price. What I like most is how straight she deals. PM me if you want her contact info.
Factor in $7.5K federal tax credit and $2.5K state rebate, plus 0% APR for 60 months with Toyota... I think it's one heck of a deal. For me, it even gets better... we have an additional $3K Valley Air rebate (only in Fresno County)
. Dianne slightly beat their price. What I like most is how straight she deals. PM me if you want her contact info.
Factor in $7.5K federal tax credit and $2.5K state rebate, plus 0% APR for 60 months with Toyota... I think it's one heck of a deal. For me, it even gets better... we have an additional $3K Valley Air rebate (only in Fresno County)
fooljoe
Well-known member
I know how the fed/state incentives work - I own a Leaf (and it was a $5000 check from the state when I got mine.TonyWilliams said:
) But I figured for comparison purposes I would just divide the 2500 by 36 and take that off the payment, since the Leaf S lease requires $2k down and this one is $0 down.fooljoe
Well-known member
Ok I spoke with Dianne at Carson Toyota and she said the $10k is already factored in to the $529/mo payment, so the lease remains crap. It still seems odd to me, as Toyota's website seems to clearly indicate otherwise with "PLUS" in all caps. I still wonder if someone might be able to get Toyota to honor it if they made a big enough stink.
We also just leased a base 2013 Nissan Leaf S two weeks ago (fell in love with our first EV). It really doesn't make any sense to lease the Rav4 though, because Toyota will just claim your $7500 tax credit (instead of passing on the savings to you like what Nissan is doing with their special lease program). Our Leaf is only for 2yr/24Kmiles, once that's all used up... we are returning it. It's nice car and all, but you can't beat the Rav4's utility and superior range...definitely a keeper. Plus, I've never seen one in Fresno, so it'll be a unique vehicle!
fooljoe
Well-known member
IF you get $10k cash back in addition to $529/mo with $0 down (as the website makes it sound), then it definitely would make sense to lease the Rav4. But since the website is apparently incorrect that's not the case.khaliss said:
You are aware that you can't get the $2500 state rebate with less than a 3yr lease, right? Perhaps the 2yr terms are cheap enough to compensate but that would seem like a pretty big reason to go for a 3yr instead.khaliss said:
Well I was just about ready to trade in my Leaf for a Rav but after reading through the charging timer issues thread I'm beginning to have some serious doubts about this car and Toyota's commitment to it. If I can't count on it to charge up in the super-off-peak window every night and get me to work in the morning that's not much utility.khaliss said:
Kohler Controller
Well-known member
fooljoe said:
The programmed charging issue will be addressed eventually. The vehicle can still be charged at any time the users wants. Don't let the lack of off peak programming be a deterrent for an otherwise great vehicle.
fooljoe said:
Yes, I was aware of that when we leased... we have no intention of keeping the Leaf, it was just for "testing waters" (reason why we took the base S model, with no options). Did some calculations, and it would just actually even out (vs. 3 year lease) after factoring the $2500 state rebate. The Leaf would have cost us $100 more per month vs a 2year lease. The state rebate is also one per household for 3 years, so it's good we didn't claim it with a 3year Leaf, now we are claiming it for the Rav4. Both me and my wife work, so yes... we could use two EVs =). After our Leaf lease is over, we are just returning it, and I will be driving a PNO-ed ICE car.
Dsinned
Well-known member
Kohler Controller said:
As a much higher price paid owner since November, I concur!
The scheduled charge issue is quite annoying, but does not have to be a show stopper. As I have stated many times here on this forum, if you are willing to stay up till (or get up at) midnight, you can initiate a "manual" charge - referred to as "CHARGE NOW" in Entunes - you still can charge during the lower off-peak rate. I know this is inconvenient as well as annoying, but IMHO, the car is still worth it, especially at a much lower purchase price AND 0% APR financing than some of us here got it for last year.
Btw, I have heard from various sources, that PG&E's E-9A special EV homeowner (TOU) rate plan will be discontinued later this year. If true, and prospective customers of the RAV4 EV do not either lease or buy one before then, this whole issue of scheduled charging may not matter even if you wind up driving another EV. After this special rate plan is gone, you may have to pay a non-TOU, "flat rate" for electricity no matter when you charge your EV. I also heard that for existing PG&E rate payers already on one these special EV rate plans, we will be grandfathered for at least another year after they are officially terminated. :mrgreen:
Dsinned
Well-known member
khaliss said:
What does "PNO-ed ICE car" mean???
Unless the terms and eligibility requirements of CA's Rebate program has changed, you have been misinformed. I claimed TWO CA Rebates in 2012, (one for the purchase of my Chevy VOLT in August, and another for my RAV4 EV in November) and received individual rebate checks for both, $1500 and $2500 respectively. I also received TWO Federal Tax Credits, totally $15,000.00, for both EVs in 2012.
This was the single most important factor in my decision to "BUY", not lease, two EVs in one year. I would NOT have purchased my RAV4 EV, if I was ineligible for a second set of these rebates and tax credits. I am now $19,000 better off financially as a direct result! Uncle Sam is exceptionally generous sometimes! :mrgreen:
Read it somewhere, maybe I got it wrong (about 1 per household claim every 3 years for the state rebate).
My daily driver (a regular car) will be PNO-ed (planned non-operation) once the Rav4 arrives. I'll either be driving the Leaf or the Rav4, depending on what my wife picks for her DD =)
My daily driver (a regular car) will be PNO-ed (planned non-operation) once the Rav4 arrives. I'll either be driving the Leaf or the Rav4, depending on what my wife picks for her DD =)
fooljoe
Well-known member
Yeah I'm pretty sure this is wrong. Maybe you're thinking of the requirement that you keep the car for 3 years (which I'm also curious about, given that I'll probably want to sell my 2 year old Leaf if I buy a Rav.)khaliss said:
fooljoe
Well-known member
I'd like to believe this will get fixed eventually, and I'm sure there are workarounds (besides staying up till midnight to initiate a charge manually every night!), but I do worry about the larger issue of Toyota/Tesla seeming like they couldn't care less about Rav4-EV customers.Dsinned said:
Dsinned
Well-known member
Ever hear of a "class action law suit"? Or, Toyota may soon be flooded with lemon lawed RAV4 EV buy backs. According to CA law, an automaker has three consecutive chances to remedy a consistent problem with a car sold new, and still under warranty.
