Financial Resources
Learn more about electric vehicles:
Benefits of Owning or Leasing an Electric Vehicle
Electric Vehicles 101
Registering an Electric Vehicle in Colorado
Electric Vehicle Financial Resources
If you’re considering purchasing an electric vehicle, there are many financial incentives available.
Residential Incentives
State of Colorado Incentives
If you purchase or lease a new electric or plug-in hybrid electric, you may be eligible for $750.
Learn more about the requirements here.
Vehicle Exchange Program
The Vehicle Exchange Colorado (VXC) program helps income-qualified Coloradans recycle and replace their old or high-emitting vehicles with electric vehicles. The VXC rebate will partially cover the upfront cost of the electric vehicle at the time of purchase or lease from an authorized automobile dealer.
VXC participants can receive a rebate of $9,000 towards a new Battery Electric Vehicle (BEV) or Plug-in Hybrid Electric Vehicle (PHEV) with a manufacturer’s suggested retail price (MSRP) or purchase price of $80,000 or less. Participants can receive $6,000 towards a used BEV or PHEV with a final negotiated purchase price of $50,000 or less.
Only one VXC rebate is allowed per tax household. Visit the Colorado Energy Office website to learn more about the vehicle exchange program.
Refer to this table for a summary on residential incentives:
| Incentive | Max Discount for New EV | Max Discount for Used EV | Qualifications |
| State Tax Credit | $750 | N/A | Vehicle sale price and purchase date. Available only to CO residents |
| Vehicle Exchange Colorado (VXC) | $9,000 | $6,000 | Income, sale price, participating auto dealer. Available only to CO residents who are recycling an old car |