Subaru Solterra has better interest rates than Toyota bZ4X

The Subaru Solterra can be much cheaper to finance than a Toyota bZ4X despite the two EVs sharing many features. According to dealer incentive bulletins, the Solterra already has a financing agreement with interest rates as low as 2.9% APR. That’s less than half the interest rate Toyota is currently offering on the bZ4X.

For starters, all 2023 Solterras offer 2.9% financing for up to 48 months. There is even a 63 month option at 3.49% and a 72 month offer at 3.9%, although Subaru allows dealers to mark up both of these rates by up to 1%. Still, these early Solterra offerings have an advantage for buyers over Toyota’s bZ4X.

For comparison, the 2023 Toyota bZ4X has no financial incentive and is only eligible for standard rates. According to the company’s online payment calculator, that means an interest rate of 6.74% on a 48-month loan or up to 6.94% for 72 months. This could make the bZ4X a pretty bad deal in comparison when buying one.

At these rates, we estimate that a 6-year loan on a $44,000 bZ4X would cost around $53,920, including interest. Even with a 1% interest rate premium, a $44,000 Solterra would cost $50,874. That might make the Solterra a much better deal. And that’s before the impact of a federal tax credit as well as plug-in refunds.

While the Solterra remains eligible for a $7,500 electric vehicle tax credit, Toyota is expected to exceed a cap of 200,000 vehicles that will trigger a mandatory phase-out process. Once we reach that point, the bZ4X tax credit will be cut in half to just $3,750. This could give Solterra buyers an even bigger potential advantage.

We recommend that you compare prices carefully as inventory will almost certainly be limited. However, based on the available information, it looks like the Solterra may be a significantly better value. With interest rates set to continue to rise, now might be a good time to take advantage of current offers while you can.

Explore Subaru Solterra Pricing and Offers

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