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Colorado residents are eligible for up to $9,050 in tax incentives and rebates when they purchase or lease select Electric, Plug-In Hybrid (PHEV), and Fuel Cell Electric vehicles. Learn more about each incentive below.
Shop New EV Shop Used EVEVs and PHEVs are More Affordable Than Ever
Government and EPA initiatives to reduce carbon emissions have created attractive incentives to make purchasing or leasing Electric Vehicles (EVs) or Plug-In Hybrid Electric Vehicles (PHEVs) more affordable than ever. Various government agencies are now providing credits and incentives to boost the adoption of EVs.
These programs aim to help Coloradans of all income groups afford EVs and PHEVs, ensuring broader accessibility for everyone.
Make Green Choices, Reap Green Rewards
up to $750
up to $6,000
Vehicle Exchange Colorado Program
The Vehicle Exchange Colorado (VXC) program helps income-qualified Coloradans recycle and replace their old or high-emitting vehicles with electric vehicles (EVs). The VXC rebate will partially cover the upfront cost of the EV at the time of purchase or lease from an authorized automobile dealer.
Income-qualified Colorado residents who own eligible old or high-emitting vehicles should apply for this rebate.
All Schomp Automotive Colorado dealerships are participating in Vehicle Exchange Program (VXC). For more information, contact a Schomp Client Advisor.
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Colorado Tax Incentives
Colorado allows a refundable income tax credit for the purchase or lease of a qualifying motor vehicle. In general, the credit is allowed for new electric and plug-in hybrid electric motor vehicles that are titled and registered in Colorado, although several additional requirements apply. The amount of the credit varies by tax year. A purchaser or lessee of a qualifying motor vehicle can assign the credit to the financing entity or motor vehicle dealer.
Learn MoreBenefits of Driving an Electric Vehicle,
PHEV, or Fuel Cell Electric Vehicle
Save Money on Fuel and Maintenance
Convenient Charging Accessibility
Reduce Emissions and Your Carbon Footprint
State-of-the-Art Technology
An Improved Driving Experience
