Sometimes it’s very tough to decide on the vehicle that marching your requirement completely. Since there are so many options to choose from. To be very specific, if you are also one who is looking to decide between an electric or hybrid Toyota, the bZ4X EV may offer a better value. Even with the fact that it has a higher MSRP, the all-electric bZ4X is now comparatively cheaper than the Toyota Hybrid Camry.
Talking about the pricing then the 2023 Toyota bZ4X XLE has a base MSRP of $42,000 with a 252 miles of EPA est range (MPGe –131 city / 107 highway). On the other side, the 2023 Toyota LE Hybrid has a base MSRP of $28,655 (MPG – 51 city / 53 highway).
Therefore it indicates that Toyota promotes a lease deal in regard to the 2023 Camry Hybrid LE sedan. As same comes at $439 for 36 months with $2,999 down. Meanwhile, the all-electric bZ4X is offered at $389 per month, with $4,999 due at signing. The Camry Hybrid’s effective total is $552 per month. For the bZ4X, the cost is $528 per month.
IRA Criteria
To put all it in once then the most vital factor is that the bZ4X is entitled to the $7,500 lease credit. Thereby, all qualified buyers can able to receive a $7,500 tax credit via an Inflation Reduction Act (IRA) passed last August.
The criteria for a model to be eligible is to pass strict battery mineral sourcing as well as assembly requirements.
On the other hand, loopholes enable leased EVs to go for the credit. Under the guidelines of the IRA, leased EVs come under commercial vehicles. Now this makes them exempt in order to pass the requirements that disqualify many purchases.
At the same time, the Camry Hybrid (53%) has a little higher residual value than the bZ4X (51%). While the financial factors are almost the same that is equivalent to approx 6% APR. The IRA credit is perhaps the most important factor with respect to lower Toyota lease prices. Additionally, lease prices on the electric SUV have declined fastly over the past few months.
The Toyota bZ4X is the better deal as compared to the Hybrid Camry. Especially for those who are seeking more value. And that also depends on how much you will save on gas, maintenance, etc.