Nationwide Insurance tries to attract potential customers on its so-called "vanishing deductible." Toyota is offering a somewhat similar "vanishing price tag" on its battery-electric RAV4 EV.
The Japanese automaker, which recently started selling the all-electric 'ute in California, is offering a limited number of customers $5,000 cash back plus $2,500 in "loyalty cash," Plug In Cars reports, citing this Toyota dealer website. But wait, there's more. Customers who buy by January 7 can also get zero-percent financing.
All told, customers factoring in the $7,500 federal tax credit for plug-in vehicles and the $2,500 clean-vehicles rebate from the state of California can cut the cost of a new RAV4 EV by $17,500. That means the RAV4 EV's sticker price rings up at about $32,000 instead of the more typical $49,800.
Toyota, which first unveiled the RAV4 EV at the 2010 Los Angeles Auto Show, disclosed initial pricing in May, and in September announced a 36-month lease option with a 1.9-percent APR loan that runs $599 per month with $3,499 down. That month, the RAV4 received a 78 miles-per-gallon equivalent rating from the EPA, which gave the car a 103-mile single-charge range rating. Toyota expects to sell about 2,600 of the EVs through 2014. Autoblog's first drive review of the SUV is right here.