Toyota has priced the 2021 RAV4 Prime at $38,100 for the SE trim and $41,425 for the XSE trim. With options, the price can balloon to over $47,000. But if you are considering the Prime model over a standard RAV4 Hybrid, you must also factor in the $7,500 federal tax credit. While this incentive does not lower the purchase price of the vehicle, it does reduce your taxable income for the year and it can be factored in to lower your monthly lease payment.
The credit effectively pulls the price of the RAV4 Prime down to $30,600 for the SE or $33,925 for the XSE, which is much closer to the price of a RAV4 Hybrid. If your commute is shorter than 21 miles each way, you can also factor in the fuel savings from being able to complete the entire trip without using the gasoline engine. So long as you can afford the up-front cost, we think the RAV4 Prime is easily worth the upgrade over a RAV4 Hybrid.
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