The past 3 years have been an ocean of intense global changes, economic failures, and the lingering social dystopia scenario hanging from our heads. However, as time passed, we got back on our feet. The Federal Government bailed us out, and we started to buy things again. With tax rebates and incentives, the EV and plug-in hybrid market surged, and a lot of new car owners became EV and plug-in hybrid drivers.
Now logically speaking, you would have to be a very lucky man to find a dealer willing to sell you a brand new 2022 car under MSRP. Now you are lucky enough to even get a car for MSRP. The “market adjustment” that dealers add is the extra money put on by dealers when a car is sold so that they can keep the extra. Dealerships have thrived for decades without this markup so it can only be summed up in one word…greed. A $30,000 car suddenly became $37,000.
However, despite the fact that it is not a good climate to buy a brand-new car, it is the best time to buy a new 2022 Toyota RAV4 Prime if you have a somewhat "new-ish" car to trade in. Let’s say you are taking in your 2014 RAV4 to trade in for a 2022 RAV4 Prime. True, you would be paying above MSRP, however the extra trade in value from your car (which by the way, is now worth 40% more than it did in 2019) will subdue the price. Also, you cannot forget the $7500 tax credit you get by buying a new EV or plug-in. Better hurry because they are soon phasing out.
Kenneth Goodsell wrote on Facebook’s Official Toyota RAV4 Prime groups saying, “No one wants to pay $10,000, $5,000 if you're lucky, over MSRP. But you may wind up paying a lot more in the end if you continue to insist on paying MSRP for a vehicle that is in short supply with a high demand.” It’s true, the more you wait the more likely it is that the price will rise. Also beware of the current interest rates. Inflation is at an all time high and therefore interest rates are skyrocketing to combat this. If you want to avoid the inevitable 13%, get your Prime now.
This high demand fueled with low supply means that prices will inevitably go up. So while you can, it is the perfect time to get one before it is too late. And besides, with this gas prices, who wouldn’t want an SUV with the fuel efficiency of a Prius.
It’s easy to say that with all of the current problems going on, the alternatives for an affordable efficient SUV are out there. However, they are almost all new. Cars like the Mustang Mach-E or the Chevy Bolt EUV. These cars are affordable yet the undeniable reliability of the RAV4 is unmatched.
What do you think? Are you a prospective RAV4 Prime buyer? Let us know in the comments below.
Harutiun Hareyan is reporting Toyota news at Torque News. His automotive interests and vast experience test-riding new cars give his stories a sense of authenticity and unique insights. Follow Harutiun on Twitter at @HareyanHarutiun for daily Toyota news.