With the Auto market in a fevered state, most people hold off on a purchase of a new expensive plug-in hybrid. However according to owners, now is the best time to go and buy one.
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The past 3 years have been an ocean of intense global changes, economic failures, and the lingering social dystopia scenario hanging from our heads. However, as time passed, we got back on our feet. The Federal Government bailed us out, and we started to buy things again. With tax rebates and incentives, the EV and plug-in hybrid market surged, and a lot of new car owners became EV and plug-in hybrid drivers.
Now logically speaking, you would have to be a very lucky man to find a dealer willing to sell you a brand new 2022 car under MSRP. Now you are lucky enough to even get a car for MSRP. The “market adjustment” that dealers add is the extra money put on by dealers when a car is sold so that they can keep the extra. Dealerships have thrived for decades without this markup so it can only be summed up in one word…greed. A $30,000 car suddenly became $37,000.
However, despite the fact that it is not a good climate to buy a brand-new car, it is the best time to buy a new 2022 Toyota RAV4 Prime if you have a somewhat "new-ish" car to trade in. Let’s say you are taking in your 2014 RAV4 to trade in for a 2022 RAV4 Prime. True, you would be paying above MSRP, however the extra trade in value from your car (which by the way, is now worth 40% more than it did in 2019) will subdue the price. Also, you cannot forget the $7500 tax credit you get by buying a new EV or plug-in. Better hurry because they are soon phasing out.
Kenneth Goodsell wrote on Facebook’s Official Toyota RAV4 Prime groups saying, “No one wants to pay $10,000, $5,000 if you're lucky, over MSRP. But you may wind up paying a lot more in the end if you continue to insist on paying MSRP for a vehicle that is in short supply with a high demand.” It’s true, the more you wait the more likely it is that the price will rise. Also beware of the current interest rates. Inflation is at an all time high and therefore interest rates are skyrocketing to combat this. If you want to avoid the inevitable 13%, get your Prime now.
This high demand fueled with low supply means that prices will inevitably go up. So while you can, it is the perfect time to get one before it is too late. And besides, with this gas prices, who wouldn’t want an SUV with the fuel efficiency of a Prius.
It’s easy to say that with all of the current problems going on, the alternatives for an affordable efficient SUV are out there. However, they are almost all new. Cars like the Mustang Mach-E or the Chevy Bolt EUV. These cars are affordable yet the undeniable reliability of the RAV4 is unmatched.
What do you think? Are you a prospective RAV4 Prime buyer? Let us know in the comments below.
Harutiun Hareyan is reporting Toyota news at Torque News. His automotive interests and vast experience test-riding new cars give his stories a sense of authenticity and unique insights. Follow Harutiun on Twitter at @HareyanHarutiun for daily Toyota news.
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I have a 2019 Rav 4 Hybrid.
I have a 2019 Rav 4 Hybrid. Would live a all electric. When’s the best time?
If you want to trade in,
If you want to trade in, probably around winter time since that's when they role out the black Friday and holiday deals. However if you want to plane out purchase one, I would still wait till winter time.
*If* you can find one. That's
*If* you can find one. That's a huge if, still. I've found a local Toyota dealer that has not yet caved to the insane markups, but they said Toyota doesn't really allocate any Primes to our region. :sadface: But I can order a RAV4 hybrid (or any other model) at MSRP. After finding nearby dealers with available Escape and Tucson PHEVs (neither was actually on the lot yet - they're on the way), but both with big markups ($4k for the Ford, which almost seems reasonable now, and $11k for the Tucson), I think I'll head down to the Toyota dealer this weekend to put down a deposit, even if it's a RAV4 HEV rather than a Prime.
Really depends on your
Really depends on your personal situation, budget, and priorities. I myself traded in a immaculate 2019 Subaru Outback Touring 3.6r on the R4P, essentially because I wanted to experience an electric vehicle without the charging travel issues. The RAV is indeed a nice vehicle, but I will never make up the fuel savings because the purchase price was so stupidly high. Without the PHEV feature the ICE RAV is not even in the top ten small CUVs, so any other RAV, even the hybrid, is a no go, entirely.
I was fortunate in NY. I
I was fortunate in NY. I bought a prime back in Feb. The dealer wanted 5 k over msrp but because I was a repeat customer, they gave me a break and only charged me 3k. Which was still ok for me because NY gave me $1000 and the federal credit is $7500 so basically paid less than msrp with tax credits.
We live in SC and I have been
We live in SC and I have been calling around for a Prime and I am not able to get my hands on one.
Hi Mike, check dealers of big
Hi Mike, check dealers of big cities like Columbia or Charleston. Maybe even Charlotte too. Scott Clark has a very big selection.
My friend was able to get 3
My friend was able to get 3 RAV4 Primes, one for her and one for each of her two children. Here in Oregon we also receive $2,500 state refund, for a total savings of $10,000. I bought a 2021 Prius Prime that had a rebate of $6,000.
I live in Quebec, Canada. I
I live in Quebec, Canada. I was lucky enough to get my hands on a 2021 in the early stages of the pandemic and all at M.R.S.P The prime has been flawless for the last 1.5 years. I plan to keep it for 10 years and by then hopefully we will be ready as a society for an EV.
We live in West Palm Beach
We live in West Palm Beach and put in an order for a prime 2022 and got it 2 months later at MSRP, NO extra delivery charges.
see Earl Stuart, Stuart Florida
Ordered a 2022 Rav4 Prime on
Ordered a 2022 Rav4 Prime on January 28th and after 5 months the dealer has no idea when it is coming in. They orgionally told me 3 to 5 months and now we are in month 6. I am currently in a 6 month extension on my lease which is up the end of August. I have a call into Toyota customer relations to see if they know anything on when it might be available. I am stilll waiting for a call back. This whole process is very frustrating!