Understanding EV Tax Credits

• $3,500 credit for new EVs/PHEVs (MSRP ≤ $80k), plus an additional $2,500 if MSRP ≤ $35k.
  • The new vehicle credit becomes $3,850 if you finance through GM Financial and choose to assign at the point-of-sale.
• ⚠️ Deadline: The Colorado EV Rebates will reduce to $750 on January 1, 2026.

🔁 Vehicle Exchange Colorado (VXC) Program

The VXC program helps income-qualifying Coloradans trade in an old/high‑emitting vehicle for a rebate on a new or used EV at approved dealers.

✅ Eligibility Requirements

• Colorado resident, age 18+, with valid CO driver’s license/address.
• Income ≤ 80% AMI or enrolled in qualifying assistance programs (e.g., SNAP, SSI, Medicaid).
• Old vehicle must be ≥12 years old or fail emissions, gasoline/diesel, currently titled & lien-free in your name CO DMV.

📋 Rebates

• New EV/PHEV: Current: $6,000, Starting Nov. 3: $9,000
• Used EV/PHEV: Current: $4,000, Starting Nov. 3: $6,000

New EV MSRP cap: $80,000; Used EV final negotiated price cap: $50,000.

Rebate is a point-of-sale discount at authorized dealers and can stack with standard Colorado credits.

🔁 Application & Redemption

1. Register and apply via the VXC portal.
2. Application reviewed (~10 business days); rebate issued upon approval.
3. Rebate must be redeemed at dealership within 90 days.

✔️ You can stack it with the $3,500 Colorado incentive—totaling up to $12,500 in credits and rebates!

💡 Opportunity Snapshot

Total potential savings: up to $12,500!