Select Eligible Toyota Dealers [
Dealer Locator] located in
Los Angeles / San Francisco, California are offering to
Qualifying Customers: 2021 Toyota Mirai Hydrogen Fuel Cell Car + $15,000 in Complimentary Fuel for 2yrs with
0% APR for 72-Months for as low as
$23,108 after Incentives and Tax Credits. Pricing and availability may vary depending on your location, consult your local eligible dealership for more information.
- Note: Offer is valid at select participating Los Angeles / San Francisco, California locations only. Refer to the forum thread for additional deal details and discussion.
Thank to community member
ExtremeOak for and reddit user
XIIXOO for finding this deal.
Deal Details:
- Visit your local eligible Toyota Norcal Dealer [Dealer Locator]
- Shop for a eligible 2021 Toyota Mirai model that qualifies for the TFS Cash offer and Fuel Card offer mentioned on the page here
- Note: Qualified buyers can finance a new 2021 Mirai at 0% APR for 72 Months.
- Apply for and purchase a qualifying model with prices starting from ~$50,408 (may vary by location)
- Toyota Cash Discount will deduct $20,000 from your total
- You will receive a $4,500 CA Tax Credit (more info)
- You will receive a $8,000 Federal Tax Credit (more info)
- You will also receive a Complimentary Fuel Card valid for up to 2 years or $15,000 of fuel (more info)
- Your total after incentives and tax credits will be as low as $23,108 and will vary depending on your location and model selection.
Additional Details:
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Top Comments
"The income cap applies for all eligible vehicle types except fuel-cell electric vehicles."
Source: cleanvehiclerebate.org/eng/requirements/1470
1,302 Comments
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https://www.caranddrive
How do you receive the credits?
The process is fairly simple. You first have to buy a vehicle that qualifies, of course. Then you fill out form 8936 along with your tax return. It is important to note that the credits are non-refundable tax credits, as opposed to refundable tax credits. That means that the credits can only be applied to the taxes you owe in a given year, and if you received more in credits than you owe in taxes, you will not receive the difference in the form of a check. (With refundable tax credits, you would receive that check). Additionally, since the credits don't roll over, you can only apply the credits to your taxes for one tax year.
Keep in mind that you cannot qualify for the credits if you lease the vehicle because you don't own it— the manufacturer does. In that case, the manufacturer can qualify for and receive the credit; the credit is often figured into the price of the lease, so you receive the benefit indirectly.
https://www.caranddriver.com/shop...dits-work/ [caranddriver.com]
How do you receive the credits?
The process is fairly simple. You first have to buy a vehicle that qualifies, of course. Then you fill out form 8936 along with your tax return. It is important to note that the credits are non-refundable tax credits, as opposed to refundable tax credits. That means that the credits can only be applied to the taxes you owe in a given year, and if you received more in credits than you owe in taxes, you will not receive the difference in the form of a check. (With refundable tax credits, you would receive that check). Additionally, since the credits don't roll over, you can only apply the credits to your taxes for one tax year.
Keep in mind that you cannot qualify for the credits if you lease the vehicle because you don't own it— the manufacturer does. In that case, the manufacturer can qualify for and receive the credit; the credit is often figured into the price of the lease, so you receive the benefit indirectly.
you can get it back in the tax refund as long as you own more than 8k.
you can get it back in the tax refund as long as you own more than 8k.
All that I've heard and read, including the Car and Driver, specifically states this is a "non-refundable tax credit" unlike most other tax credits.
Would be awesome if I can get this as a refund.
IF, and this is a huge IF, this car and deal is for you then I suggest you call around and get on it.
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IF, and this is a huge IF, this car and deal is for you then I suggest you call around and get on it.
All that I've heard and read, including the Car and Driver, specifically states this is a "non-refundable tax credit" unlike most other tax credits.
Would be awesome if I can get this as a refund.
You are right EV/FCEV is Non-refundable tax credit. The amount of "tax owe" is where you and I disagree. "Tax owe" is the tax liability needed to be paid for the entire year regardless you prepaid/withhold or not. If you prepaid/withhold more than "tax owe" then you get them back in tax refund/return, if you paid less, and you need to make up the difference.
You are saying the "tax owe" is the tax you still need to pay at the time of filing.
For me, I wanted the new 2021 Mirai for what it offered. It's a really nice car.
"A 100% efficient electrolyser requires 39 kWh of electricity to produce 1 kg of hydrogen. The devices today require as much as 48 kWh/kg. So, if electricity costs are 0.05 US$/kWh, the power cost for the electrolysis process alone is 2.40 US$/kg of hydrogen."
So walk this quote above back, a Tesla can go 100 miles on 36KWH. The same 36KWH gets you at theoretical maximum 60 miles or so on a fuel cell.
The wholesale energy prices in CA frequently dip negative, which means that you can electrolyze H2 (or charge batteries) and get paid for it. As retail customers, you and I don't (yet) get access to these prices.. but on a larger scale things get interesting. Nice thing for H2 is that theoretically you can fuel up quickly and have a longer range - something that folks value. Car batteries are actually starting to go up in price.. so curious to see what happens there.
Sign up for a Slickdeals account to remove this ad.
https://www.caranddrive
How do you receive the credits?
The process is fairly simple. You first have to buy a vehicle that qualifies, of course. Then you fill out form 8936 along with your tax return. It is important to note that the credits are non-refundable tax credits, as opposed to refundable tax credits. That means that the credits can only be applied to the taxes you owe in a given year, and if you received more in credits than you owe in taxes, you will not receive the difference in the form of a check. (With refundable tax credits, you would receive that check). Additionally, since the credits don't roll over, you can only apply the credits to your taxes for one tax year.
Keep in mind that you cannot qualify for the credits if you lease the vehicle because you don't own it— the manufacturer does. In that case, the manufacturer can qualify for and receive the credit; the credit is often figured into the price of the lease, so you receive the benefit indirectly.
Thanks for finding that out.
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