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Labor Day Is The Time To Buy: $299/Mo RAV4 EV Lease

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On: Fri, Aug 30, 2013 at 9:26AM | By: Chris Weiss

Labor Day Is The Time To Buy: $299/Mo RAV4 EV Lease

When Toyota revealed the RAV4 EV, it was nice to see an all-electric car with a little more size and utility than the subcompact three-doors that dominate the EV segment. But at close to $50K, more than double the price of the gas version, the electric crossover isn't exactly an affordable bargain. Toyota is celebrating the upcoming Labor Day holiday by slashing the RAV4 EV's lease price.

While sales of the standard gas RAV4 are booming, sales of the electric version haven't exactly blown up since it launched last year. Initial plans called for selling a modest 2,600 models by the end of 2014, and it's just over a quarter of the way to that number (709 through July), according to Bloomberg. In an effort to give the slow sales a shot in the arm, Toyota is offering $299-per-month, three-year leases through September 3. Bloomberg reports that the deal applies only to the vehicle's primary markets in greater Los Angeles and San Francisco. For those looking to own their own RAV4 EV, Toyota is also offering 60-month, no-interest financing through September 3.

The RAV4 EV was developed in cooperation with the electric-vehicle whizzes at Tesla Motors. Given its larger CUV shell, the RAV4 EV doesn't get as sporty of performance out of Tesla's electric hardware as Tesla's own smaller models do, but the 154-hp electric motor does provide a competitive 100 miles of driving range, despite the model's large-for-an-EV packaging. It also packs the ability to reach 60 mph in seven seconds. Toyota has called it the world's most aerodynamic SUV.

"The RAV4 EV’s driving performance, dynamics, and cargo capacity are equal to or exceed the gas powered RAV4 V6," Bill Fay, Toyota division group vice president and general manager, said last summer.

If you've been intrigued by the RAV4 EV, but reluctant to pay exorbitant lease prices, now's the time for a second look.


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