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54m ago

Colorado Lifts EV Trade-In Rebates to $9,000 as Federal Credit Ends

The fee-funded expansion targets income-qualified drivers who retire older, higher-emitting cars to sustain EV uptake after the federal subsidy expired.

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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)

Overview

  • Starting Nov. 3, Vehicle Exchange Colorado raises point-of-sale rebates to $9,000 for new EVs and $6,000 for used EVs for eligible buyers.
  • Officials say the increase responds to the Sept. 30 end of the federal $7,500 EV tax credit under a budget bill signed by President Trump.
  • Rebates are funded by the Community Access Enterprise’s fee revenue, not the general fund, with budget authority in place and funding expected through June 30, 2032.
  • Eligibility requires household income at or below 80% of area median income and trading in a gas or diesel vehicle at least 12 years old or one that failed emissions; price caps cited include under $80,000 for new and $50,000 for used.
  • The exchange rebate can be stacked with Colorado’s separate state tax credit of $3,500 this year (dropping to $750 on Jan. 1) and an additional $2,500 for new EVs under $35,000, as automakers roll out private offsets like BMW’s $7,500 purchase credit, Hyundai price cuts, and Ford/GM lease programs.