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What is the Colorado electric vehicle rebate?
I live in Colorado and I commute nearly 100 miles a day for work. With the volatility in gas prices, I’m seriously considering an electric car, but I want to see if I can get any money back. Does Colorado have an electric vehicle rebate?
Eric Schad · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
A 100-mile commute can certainly hurt your finances. While
Colorado
does not have an electric vehicle rebate, the state offers tax credits for the purchase or lease of an electric vehicle (EV) of up to $3,500.For 2022, the amount of the tax credit to buy or lease an EV is:
- Light-duty EVs (regular EV cars): $2,500 to buy or $1,500 to lease
- Light-duty EV trucks: $3,500 to buy or $1,750 to lease
From 2023 to 2025, these tax credits will dip slightly:
- Light-duty EVs: $2,000 to purchase or $1,500 to lease
- Light-duty EV trucks: $2,800 to purchase or $1,750 to lease
If you decide to purchase a new EV or EV truck, let
Jerry
help you save even more money. Download the app to compare car insurance quotes and get the best rate for your car insurance coverage needs.Jerry is a
licensed insurance broker
and insurance comparison tool that collects quotes from over 55 top-rated insurers in just 45 seconds. After you find a great rate, Jerry can help you buy new insurance and cancel your old policy. Users save an average of $800+ per year.View full answer
- Gregory R.
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