I live in Illinois which seems to generally be a low prius prime inventory state and will begin a $4000 cash back in July 2022. My questions... 1. Should I be placing an order at some point, or just hoping there is inventory in July? 2. If placing an order, would I receive whatever cash incentive is available at time of purchase, or when placing the order? 3. If placing an order what happens if car comes in before July 1st? In an ideal world I purchase in July and can get the $4500 fed credit, $4000 Illinois credit, and maybe Toyota will. Have a $5500 incentive again. Any other thoughts or suggestions welcome. I'd love a blue XLE with minimal other add-ons but I know we live in crazy times so I am open to other colors / trims if needed at time of purchase.
From what I've seen the $4k applies to electrics and not plug-ins. Illinois aims to put 1 million electric vehicles on the road by 2030
Good point. I assumed Illinois is matching other states and the federal credit that consider both PHEV (like the prius prime) and BEV (full electric) to be electric vehicles. Perhaps I am mistaken, but even after reading the actual bill the was passed it is unclear as no exact definition was given.
Me thinks Illinois is not PHEV friendly. Take license plates. There are EL plates For Electrics but not Plugins.
i would wait and hope for inventory. who knows, the world could completely change again. by then, you should know whether the 4k applies to phev or not. 5500 rebate is highly unlikely, but again, who knows? if you want a prime despite all the caveats, order one now.
agreed from the bill "Electric vehicle" means a vehicle that is exclusively powered by and refueled by electricity, must be plugged in to charge, and is licensed to drive on public roadways. "Electric vehicle" does not include electric motorcycles or hybrid electric vehicles and extended-range electric vehicles that are also equipped with conventional fueled propulsion or auxiliary engines.
Did IL ever have a $5500 rebate or any rebate on PP from Toyota? AFAIK, the $5500 rebate was NE and NY region only. CA had $5000 rebate, I think. But all other sales regions in the US had very little or none. And I highly doubt that Toyota is going to give any more than they have to as long as this seller's market continues. It is highly doubtful even in NE/NY region that we get to see $5500 rebate again. You still have time. If I were you, I would wait closer to July to see what the market hold then.
Sounds unfortunate but if you're a regular reader of PriusChat you may have noticed several posts from people who purchased a Prius Prime because of the tax incentives and had no intention of ever plugging it in and using it in EV mode. If manufacturers could develop a uniform interface, it might be practical for PHEVs to be certified fir some minimum level of EV use as part of annual inspections in those states which mandate such inspections. Or (heaven forbid!) just raise the gasoline tax to encourage drivers to use EV mode whether driving a BEV where they don't have a choice or a PHEV where they do. Of course, as with all tax legislation, if there are any loopholes, someone will figure out a way to drive through them.
"2. If placing an order, would I receive whatever cash incentive is available at time of purchase, or when placing the order?" Everything I've seen has the effective date as the date the car was registered to you.
If you're referring to the $5,500.00 Toyota offer to take off of the purchase of a Prius in 2021, I bought a new 2021 Prius Prime (all of the other trim levels were offered with the same discount) in June 2021 at a Massachusetts dealer. I had owned a 2018 Prime, but had to wait until 3 years had passed to qualify for the MA $1,500.00 rebate- which I have received, and I am now looking forward to my $4,502.00 federal tax credit. There were still quite a few available in Eastern AM in June 2021, back then we still had cheap gas, now it's different, of course "because of Covid" .....
So did I. I bought the last 2021 PP Ltd in inventory stock at a local dealer in July this year with $5500 Toyota cashback after selling less than 1-year-old 2020 PP LE for a net gain of $4000. My question was for OP who lives in IL. I am not aware that the Chicago region Toyota dealers ever had large Toyota incentives. If OP is planning to buy PP in 2022 locally in IL, I highly doubt there will be any Toyota rebate. Even in NE region, we may not see much increase in the Toyota rebate from the current $1500.
I seem to recall that the Prime was removed from the MA rebate list in maybe 2019? I doubt that anything more generous than $1,500.00 will be offered, if at all. The push is on for fully electric vehicles.
It seems the federal tax incentive will be gone as well. Am I reading Build Back Better correctly? | PriusChat Dwindling Toyota's cashback, vanishing state incentives, and now lost federal tax credit on PP. Sound like this is the last year PP will be flying off the shelf. I will likely sell my 2021 PP Ltd to get a new BEV with the most incentives I can get, which seem to be Bolt with $12000 off MSRP. I just hope they figure out the problem with the battery before the new tax incentive rolls out.
Ditto, but we love our 2021 PP Ltd (third PP in as many years), and will be keeping it. If we could get the Full Monty of $12K benefits for a US finalized BEV though, we'd likely jump to replace one of our other vehicles.
Yeah, I may end up keeping my PP. It all depends on what BEV (or maybe PHEV) qualifies for the tax credit in what form. If it is not refundable then I may not get full credit. I will only make a swap if and only if it ends up in a net gain, otherwise, I will just keep saving for my first BEV.
