Toyota RAV4 EV Offered at $299 a Month In Labor Day Lease Deal

By · August 27, 2013

Toyota RAV4 EV />

Photo: Brad Berman.

Toyota is offering customers the chance to get behind the wheel of its all-electric RAV4 EV for just $299 a month, including incentives, in a 36-month, 36,000-mile lease. The deal is offered as part of a wider Labor Day week-long sales event across its range of vehicles.

EV intenders, interested in buying rather than leasing, also have the chance to buy the $49,800 plug-in SUV outright with a 60-month, zero-percent finance package.

In order to take advantage of the time-limited lease deal, customers have to live in the Los Angeles or San Francisco metropolitan areas. Customers are required to pay both a $3,399 drive-off fee and $1,600 sales tax, and take out the lease by midnight on September 3—less than one week away.

Fine Print

Then there’s the matter of lease mileage: you’ll need to cover only 36,000 miles in those three years, or be willing to pay 15 cents per mile that you go over that limit at lease end.

Toyota is making the lease deal possible with a massive $15,400 in “Lease Cash” contributed to help sell more cars, but the fine print dictates that a “dealer contribution” is required to get the headline price. It’s worth remembering that like the recent issue involving Fiat 500e lease pricing, some dealers will expect customers to pay more than the $299 headline price to get into a RAV4EV.

Combining the practicality of Toyota’s venerable crossover SUV with an all-electric drivetrain designed and built by Tesla Motors, the RAV4 EV is capable of an EPA-approved range of 103 miles. That, combined with the ability to handle the 0-60 mph sprint in seven seconds, makes the RAV4 EV one of the best all-electric cars on the market today.

Only available in certain parts of California, the RAV4 EV allows Toyota to satisfy California Air Resources Board (ARB) regulations that mandate automakers sell a certain percentage of zero emissions cars before they are allowed to sell cars in-state.

While these two deals are part of Toyota’s wider sales event—which includes attractive pricing on many of Toyota’s current models, including the 2013 Toyota Prius Plug-in Hybrid—it’s unclear if Toyota will continue to discount the RAV4 EV beyond September 3. Since September last year, only 709 RAV4 EVs have been sold by Toyota, but in order to meet its own end-of-year 2014 sales goal, Toyota has to sell nearly 1,900 more RAV4 EVs in the next 16 months. As a result, it's likely that similar deals will be offered in the coming months.

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