2021 Toyota RAV4 Prime Prices and Deals

New plug-in with high dealer markups:

The 2021 RAV4 Prime is an all-new plug-in hybrid based on the popular RAV4. With an MSRP just under $40,000, it offers up to 39 miles of EV range, a combined 302 horsepower, and a sub-six-second 0-60 mph time.

The problem is production is extremely limited, and we're only seeing a handful of vehicles in most parts of the country, resulting in high dealer markups. Fortunately, the RAV4 Prime's large battery makes it eligible for a handful of federal and state incentives, bringing the net price down.

Current offers end June 1, 2021. Examples here are based on Southern California but may be similar in other parts of the country. We could see a few promotional offers for Memorial Day, so stay tuned.

Lease from $444/month:

There are no promotional lease offers on the 2021 RAV4 Prime, but you can get a retail lease. According to Toyota's payment estimator, a 36-month lease on the 2021 RAV4 Prime SE will run $444 per month with $3,094 due at signing (12,000 miles per year).

With an effective cost of $530, this isn't a good deal relative to its MSRP.

No financing incentives:

Toyota offers no APR deals on the 2021 RAV4 Prime yet.

Things could change, but we think the odds aren't in favor of shoppers. Your local dealer may be able to offer competitive rates, so be sure to check before making a decision on how to finance.

Tons of federal and state rebates:

The 2021 RAV4 Prime has no factory rebates yet. Given supply-related issues, we think it's highly unlikely that Toyota will introduce any cash incentives.

California buyers can get a $1,000 rebate from the Clean Vehicle Rebate (CVRP) and a $1,500 California Clean Fuel Reward for a total of $2,500 off. The CVRP is a rebate you get after buying the vehicle, but the CCFR is a point-of-sale rebate you get immediately.

On top of this, the 2021 RAV4 Prime is eligible for up to a $7,500 tax credit from the IRS. Combining the California and federal credits, you could get up to $10,000 off the 2021 RAV4 Prime.