Toyota is offering $3,000 if you trade in your old EV for its new electric SUV

Toyota is offering $3,000 off its new electric SUV, the bZ, if you trade in an older EV. In California, the deal applies to 2020-2023 model year Tesla Model Y or Model 3, Hyundai IONIQ 5, Ford Mustang Mach-E, Volkswagen ID.4, Kia EV6, or Nissan Leaf. Toyota says similar offers exist in other regions, though terms may differ, so it's worth checking what's available where you live. Other current deals include 0% financing for 72 months and leases starting around $379 a month. These offers run through August 3, 2026.

The 2026 bZ has become one of the best-selling EVs in the country, and the upgrades explain why. Range now reaches up to 314 miles, up 25% from the older bZ4X, and the car has a built-in NACS port, so it can plug into Tesla Superchargers without an adapter. Fast charging can take the battery from 10% to 80% in about 30 minutes, and a new preconditioning feature warms the battery ahead of charging, addressing complaints about slow charging in cold weather. The interior gets a larger 14-inch touchscreen, along with heated seats and standard safety features.

Pricing starts at $34,900 for the base model with 236 miles of range, and $37,900 gets you the longer 314-mile version. If you already own one of the eligible older EVs and live where Toyota's trade-in offer applies, it could be worth a look, especially alongside any state or utility rebates you may also qualify for.