Toyota has announced its most substantial discount yet on the hydrogen-powered 2023 Toyota Mirai, with a rebate of up to $40,000 off the manufacturer’s suggested retail price (MSRP). This discount, detailed in a bulletin sent to dealers today, presents an opportunity for buyers to acquire the Mirai at a significant discount, potentially making it more affordable than a Toyota Corolla.
Effective immediately, the 2023 Toyota Mirai Limited models are eligible for a $40,000 APR Subvention Cash rebate when qualifying for promotional financing. With a sticker price of $67,095, this rebate represents a substantial 60% discount off the MSRP, potentially reducing the purchase price to just $27,095âless than a well-equipped Toyota Corolla.
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Earlier this month, the Mirai’s largest discount stood at $30,000 off the MSRP, positioning it as one of the most attractive green car deals available. Notably, the discount on the less-expensive XLE trim remains at $22,000. Additionally, all Mirai models qualify for 0% APR for up to 72 months with Toyota Financial.
Toyota highlights the Mirai’s impressive range of up to 402 miles and its quick refueling time of as little as 5 minutes, giving it a significant advantage over battery electric vehicles in terms of convenience. However, the Mirai is currently only available for sale in California, and its hydrogen refueling network is less extensive than traditional EV charging infrastructure.
Availability may pose a challenge for potential buyers, as inventory data shows only around two dozen Limited models left in stock. Furthermore, the lease cash incentive on the Mirai Limited is just $7,500, suggesting that purchasing may be a more attractive option for interested customers.
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In addition to the substantial rebate, Toyota also offers a $15,000 hydrogen fuel card with the Mirai. When factoring in the 0% financing incentive, which could be worth over $6,800 compared to a loan at 7% APR, the total incentives could amount to over $60,000.
While it might be a stretch to say Toyota is giving away the Mirai, the vehicle has always relied on significant incentives to attract buyers. This $40,000 rebate represents the largest single discount currently available on any car.
