Folks, this might be the first time in history that a brand-new car has been discounted 70 percent, and it’s still not worth it. Of course, it takes a very special vehicle to achieve something like this. Enter the 2024 Toyota Mirai. On the face of it, this seems like a great deal. I mean, hydrogen is cool, the Mirai is a really pretty car and it’s not like there are a ton of options for brand-new $15,000 cars out there to begin with. The real issue with this car is that while hydrogen-fueled vehicles are neat, the infrastructure is dogshit to a degree unheard of in modern society. Because of that, you might just be paying $15,000 for a headache.
Anyway, let’s take a look at the deals you can get if you’re brave enough to live a hydrogen lifestyle. Earlier this month, 2024 Mirai discounts in Southern California (the only place you could really conceivably own one) spiked as high as $43,000 off MSRP on Mirai Limiteds. That also comes with 0 percent APR financing for six years and $15,000 in free fuel, according to Cars Direct. XLEs also come with about $35,000 in Finance Subversion Cash, the site reports. Both these discounts represent $10,000 jumps.
Finance Subvention Cash is a rebate that’s only available with promotional financing. As has been the case for quite some time, that’s 0% APR for 72 months. Odds are that most car buyers have never seen 0% APR plus a $43,000 discount on a car. In extreme cases, we think this could bring Mirai prices below $16,000.
For those of you keeping track at home, that makes the Mirai the cheapest theoretical car in America. Right now, that honor goes to the Nissan Versa, which starts at $18,330, including destination. Here’s more from Cars Direct:
The Mirai XLE has an MSRP of $50,190. At $35,000 off, that’s 70% off MSRP. In the case of the higher-end Mirai Limited version and its $67,115 retail price, it represents a 64% discount. This would bring the XLE to $15,190 and the Limited to a mere $24,115.
Toyota’s 0% financing deal also offers significant savings. On a $50,000 car, a 6-year loan at zero-percent APR would save nearly $11,400 before any rebates when compared to an interest rate of 7%. However, since the Mirai FCEV is only sold in California, only a small fraction of buyers will be able to take advantage of the deals.
Of course, there are some massive issues to deal with when buying a Mirai: the most obvious is refueling the goddamn thing. As of 2024, there are a mere 54 retail hydrogen stations in the U.S., according to the Department of Energy, and who knows how long those will stay open now that Donald Trump is back for round II. Of those 54 stations, 53 are in California and just one is in Hawaii. It’s no surprise then that Toyota sold just 499 Mirais in 2024.
I suppose to own such an oddity like the Mirai for just $15,000 is a solid deal, but you’ve really got to ask yourself how much of a headache you’re willing to deal with. You’ll also have to look outside and see whether or not you’re in California. That’s a big part of this.
