The cost to lease the Toyota RAV4 EV was just halved from $600 per month to $300 per month over the same 3-year term.
Those paying $600 may be upset. However, it is great news, apart from that. They didn’t reduce the purchase price of the vehicle, but they did reduce the 1.9% APR financing option to 0% interest.
So far, Toyota has sold only 709 RAV4 EVs, so the APR interest reduction may be an effort to compensate for slow sales. Its goal is to sell 2,600 by 2014. At the previous sales rate (at which they had the 1.9% APR rate) they wouldn’t come close to achieving the 2,600 car goal.
Source: Green Cars Reports