2021 Toyota Mirai Rebate Doubles To $ 20,000 Off MSRP
Toyota doubled its discount on the all-new Mirai just two months after its arrival. According to the brand’s latest dealer incentive bulletin, the high-tech 4-door hydrogen fuel cell car is now eligible for a huge incentive of $ 20,000. Better yet, the automaker combines the deal with 0% APR financing for 6 years.
As of March 2, all 2021 Mirais are now offering $ 20,000 of what is known as the APR Grant Cash. Unlike a traditional cash incentive, this is a bonus that a buyer can get when they finance at a promotional rate through Toyota Financial Services. In January, the car debuted with a similar incentive valued at $ 10,000.
But that’s not all. At the same time, Toyota extended the zero-interest financing to 72 months (instead of 60). On a $ 50,000 car, we estimate that this effectively reduced the Mirai’s monthly payment by $ 139 / month ($ 833 vs. $ 694). And that’s before you factor in the $ 20,000 rebate and state EV incentives.
That’s pretty impressive considering the fact that Toyota cut prices for the Mirai by over $ 9,000 from the previous year. That said, the Mirai is only sold in California. With all the incentives available, Golden State buyers may find the car surprisingly affordable despite its relatively high MSRP on paper.
For example, Mirai 2021 prices start at $ 50,495 with destination. With the $ 20,000 incentive, its cost can be reduced to just $ 30,495. The California Clean Vehicle Rebate offers an additional $ 4,500 in savings, bringing the price down to $ 25,995. It’s almost as affordable as the MSRP of the cheapest Toyota Prius ($ 25,520).
Incentives to hire Mirai have also improved. Previously, the Mirai offered a paltry $ 1,750 in manufacturer lease cash and only on the expensive Limited trim. This rebate exploded to $ 9,450, an increase of 440% month over month. The entry-level XLE is also now eligible for its first lease, although it is only worth “only” $ 2,250.
It is also interesting to note that Toyota continues to offer a fuel credit of $ 15,000. While we wouldn’t go so far as to say that it can lower your purchase price to $ 10,995 (or less with a federal tax credit), it could certainly lower the cost of owning the Mirai. For reference, discounts on the outgoing Mirai hit $ 32,000.
Current Toyota incentives end March 31, 2021.
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