Hyundai Ioniq PHEV (hatchback with 39% more cargo space than Honda Fit) is $26.7k MSRP minus the $7.5k federal credit = $19.2k cost. 29 miles of pure electric range, 52 mpg in hybrid mode. 10 year / 100k mile powertrain warranty.
We just went through the same decision last month. Our 2007 Prius had enough issues we didn't feel comfortable driving out of town and it's our distance car.
We could not find a used car for any decent price so ended up with a 2021 Prius Prime . Part of my soul died buying a new car but the numbers worked. It ended up cheaper than some comparable used options bc of rebates and the tax credit.
We test drove the Hyundai Ionic and liked it. But the federal tax credit is lower than for the Prius Prime. And we liked that too and trust Toyota reliability.
https://www.fueleconomy.gov/feg/taxevb.shtmlCost: $29500 rounded
Toyota rebate $-4000
State EV rebate $-1100
Fed tax credit $-4500*
It ends up at $19500. I don't know why Toyota was giving rebates given the current prices but we'll take it. Check your state for ev rebates.
Of course, we don't get the $4500 off taxes until April and we had to pay sales tax on the full price. So it's not exactly the same as getting a $19500 car. We had the cash to pay upfront but got a 2 year 0% financing for two years.
Surprisingly, the insurance even with collision, was less than $100 more annually than for our old Prius without collision. I can only guess it's bc of all the new safety features?
*Edited to fix rebate amount