Incredible Deals on the Toyota Mirai

The Hydrogen powered 2019 and 2020 Toyota Mirai, which is only available to California residents, is not selling well and a newly redesigned model is coming out for 2021. Toyota needs to get rid of these so they are offering a whopping $32,000 rebate. Yes, you read that right. $32,000!

And that's not all. It also comes with $15,000 in hydrogen fuel credit, which should get you through 3 years of free driving (about 45,000 miles).

As if that's not enough, Toyota is also offering 0% financing for 72 months.

And the final cherry on top? California offers an additional $4,500 tax rebate as well.

The MSRP on the 2019 Mirai is $58,550. Let's assume you can get 5% off MSRP which brings it down to $55,650. (you should do better than this as a RealCarTips reader).

So let's look at the final figures:

$55,650 minus $32,000 rebate = $23,650

$23,650 minus $4,500 CA tax rebate = $19,150

Now, remember, you also get $15,000 in free fuel, so if you apply this value to the price, you're really only paying $4,150!

Your monthly payments would come to around $328 if you take advantage of the 0% financing ($265 per month if you take the CA rebate into account). But keep in mind you will have zero fuel costs for the first 3 years or so.

Now let's talk about the cons of doing this. You have to understand this is a hydrogen powered vehicle which means you can only fuel up at hydrogen stations. There are quite a few in California, including one that's in between San Francisco and LA. It takes about 5 minutes to fill up, and you can typically get about 300 miles on a full tank. You should be able to travel pretty much anywhere in California, but there are very few hydrogen stations outside of California.

My recommendation: If you have a hydrogen station close to you, and you only intend to drive the car within your region, then this is a deal you should seriously consider.

You can find out more info on the Mirai and hydrogen stations at www.toyota.com/mirai/fcv.html.

WARNING From Reader Regarding Hydrogen Vehicles

After publishing this article, I received the following note from a reader detailing his negative experience owning a Hydrogen powered vehicle. Please be aware of this before you consider this deal.