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Colorado Electric Vehicle Tax Credit Rises to $5,000

EV Life

Great news for drivers looking to purchase an electric vehicle in Colorado! On May 11, 2023, Colorado Governor Jared Polis signed House Bill 23-1272 into law. In addition, starting January 1, 2024, new electric vehicles priced under $35,000 MSRP will be eligible for an additional $2,500 state tax credit. 4 , and more.

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How to Save Big on a Tesla with Colorado’s New EV Tax Credit

EV Life

With climate change awareness increasing, gas prices continuing to climb, EV charging stations expanding, and tons of new EV options hitting the market each year, it’s no surprise that electric vehicle purchases are skyrocketing. This is great news for Tesla fans, as many Tesla models qualify for the credit.

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The EV Tax Credit: Buy Now or Wait Until 2024?

EV Life

The Treasury Department just released new guidance that will enable consumers to use their $7500 EV tax credits more like an upfront rebate starting in January 2024. However, new vehicle requirements are also taking effect that raise questions about which vehicles will still qualify for tax credits in the new year.

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Good News and Bad News: Changes to the Federal EV Tax Credit in 2024

EV Life

Well, it’s 2024, the changes to the federal EV tax credit have officially taken effect, and it’s a bit of a mixed bag. The list of electric vehicles that qualify for the federal tax credit shrunk from 35 to 14, according to the US Department of Energy. Which Electric Vehicles Still Qualify for the Tax Credit?

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Financing a Tesla Model X Just Got Easier

EV Life

For the Model X, the new base price of $79,990 (down $8,500 from the previous price) means it now qualifies for the federal tax credit of $7,500 outlined by the Inflation Reduction Act of 2022. The federal tax credit has MSRP limits of $55,000 for cars and $80,000 for SUVs and trucks. Colorado Electric Vehicle Tax Credit.

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Electric Vehicle Spotlight: Financing a Chevrolet Bolt EUV

EV Life

We’ll also explore the best ways to save money on the purchase of a Bolt EUV by taking advantage of available EV incentives with an EV Climate Loan through EV Life. Federal, State, and Local EV Incentives Federal Tax Credit. Colorado Electric Vehicle Tax Credit. Clean Vehicle Rebate Project (CVRP).

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Electric Vehicle Spotlight: Financing Tesla Cybertruck 

EV Life

Available EV Incentives Federal Tax Credit. The Inflation Reduction Act of 2022 outlined a federal EV tax credit of up to $7,500 for qualified drivers looking to purchase an EV. Colorado Electric Vehicle Tax Credit. The tri-motor all-wheel drive model boasts 0-60 in 2.9