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2h ago

Colorado Raises EV Exchange Rebates to $9,000 New, $6,000 Used Starting Nov. 3

The income-qualified boost is funded by the Community Access Enterprise to cushion the loss of the federal tax credit.

A 2022 Volkswagen ID.4 Pro S model electric vehicle on the lot at Emich Volkswagen November 18, 2022. (Photo by Andy Cross/The Denver Post)
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Overview

  • The state will increase Vehicle Exchange Colorado rebates to $9,000 for new EV purchases and $6,000 for used EVs beginning Nov. 3.
  • Eligibility requires trading in a 12‑year‑old vehicle or one that failed a recent emissions test, with income capped at 80% of county median, and the rebate is applied at the point of sale.
  • Funding comes from the Community Access Enterprise financed by rideshare and retail delivery fees, leaving the general fund untouched, with support approved into fiscal 2026 and expected through June 2032.
  • Qualifying buyers can stack the exchange rebate with a $3,500 state tax credit plus $2,500 for new EVs under $35,000, allowing up to $15,000 off through Dec. 31, 2025 before the credit drops in 2026.
  • Launched in 2023, the program has retired roughly 2,700 older vehicles as Colorado surpasses 200,000 registered EVs with more than a quarter of 2025 new vehicle sales electric.