Toyota Offers $40,000 Discount On A Car Most People Can't Fuel Up

The second generation of Toyota’s innovative hydrogen fuel cell EV the Mirai made a lot of improvements over the first-generation car, including increased range and better styling, but according to a bulletin sent to dealers last week, 2023 Mirais now offer a rebate worth up to $40,000 off MSRP. This news comes just days after Shell Hydrogen announced that it will no longer be operating hydrogen light duty passenger fueling stations in California due to supply complications and other external market factors, and would be closing seven of its 55 California hydrogen refueling stations, according to Forbes.

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Toyota’s Mirai is only sold in California since it’s the only state with the hydrogen refueling infrastructure, and only a handful of California Toyota dealerships sell Mirais. This potentially $40,000 cash incentive deal is limited to 2023 model year Mirai Limited models, and includes zero percent financing for qualifying buyers. All new Mirais include $15,000 in complimentary fuel at the time of sale, but buyers get up to six years to use that money where leases only get whichever comes first, three years or $15,000 of free fuel, according to Cars Direct,

The biggest limitation for shoppers may be availability. Inventory data only shows around two dozen Limited models left in stock. Even if you can manage to find the one you want, you’ll probably want to consider buying rather than leasing one. That’s because Toyota is offering just $7,500 in lease cash on the Mirai Limited.

Toyota also offers a $15,000 hydrogen fuel card with the Mirai. If you can manage to get the Mirai down to $30,000, we estimate that the value of the 0% financing incentive could be worth over $6,800 when compared to a loan at 7% APR. With some creative math, that could equate to over $60,000 worth of incentives.

Image: Toyota

Where the 2023 Mirai Limited models are eligible for this $40,000 cash rebate, 2023 Mirai XLEs are only eligible for a measly $22,000 rebate, zero percent financing and the $15,000 in free fuel. The Mirai XLE has an EPA-estimated driving range of 402 miles, and the Mirai Limited has an EPA-estimated range of 357 miles, but both trim levels require a painless Toyota–estimated five minutes to refuel at a hydrogen station.

According to Cars Direct, the incentives that Toyota is currently offering on the Mirai are the biggest single discounts on any car right now. If you live in the Los Angeles area or the Bay Area and you are looking for an affordable alternative fuel car, the Mirai might be the perfect choice. To see if there are any available hydrogen fueling stations near you, check out the California Hydrogen Fuel Cell Partnership website here.