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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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California GAP legislation: Sellers fast to conform

Baua Electric

Texas bans assured asset coverage that might value customers greater than 5 % of the quantity financed, and Colorado received’t let sellers worth the protection above $300 or 2 % of the quantity financed, whichever is larger. 5 % in Colorado. Knowledgeable.IQ In Texas, a median of one.1 7 % in January 2023.

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Junkyard Find: 2004 Mitsubishi Diamante LS

The Truth About Cars

There was a time when Mitsubishi dealers in North America offered just about every kind of car and light truck for sale. In 1990, for example, American vehicle shoppers looking at new Mitsus could check out the Precis , the Mirage , the Eclipse , the Galant , the Sigma , the Van/Wagon , the Pickup and the Montero.

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

EV Life

The federal government is hoping this change will further drive EV sales and get the country closer to the goal of making EVs account for 50% of all new car sales by 2030. Dealers must register with the IRS to be eligible to offer the credit at the point of sale. Here’s how it works: Find your savings.

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

EV Life

The dealership then submits “time of sale” paperwork to the IRS, and the IRS reimburses the dealer the credit amount. These new guidelines simplify the process for drivers, providing an immediate financial incentive at the point of sale and making dealers, not individuals, collect the tax credit from the IRS. One low payment.