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Colorado Electric Vehicle Tax Credit Rises to $5,000

EV Life

These incentives were introduced to promote the transition towards cleaner transportation in order to reduce smog and greenhouse gas emissions and slow the effects of climate change. However, if you choose to finance your electric vehicle or PHEV, traditional auto lenders won’t consider those incentives when you apply for your loan.

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

EV Life

Dealers must register with the IRS to be eligible to offer the credit at the point of sale. And while the US government has yet to share a specific list of FEOCs, the Treasury Department has promised to deliver those details before the end of the year. The perfect time to get the electric vehicle you’ve been looking at is right now.

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Road Test: 2022 Maserati Ghibli Trofeo

Clean Fleet Report

When at the dealer, make sure to lift the hood and get a look at the beautiful Trofeo carbon fiber red and black engine cover, which by far is the most attractive we have seen. Homelink, wireless phone charging, keyless entry with remote start, dual zone automatic climate control and soft close doors round out the offerings.

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EV Tax Credit: The Guide Your Car Dealer Doesn’t Want You To Read

EV Life

However, dealers are much less likely to educate you about the fine print that may prevent you from accessing the full $7500 credit. Watch out for car dealers who use phrases like ‘we guarantee you can get you the full $7500 tax credit.’ How our EV Climate Loan works: Pre-qualify in minutes. Finance your EV for less.

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Want a Free Chevy Bolt? EV Life Can Help You Use EV Incentives to Save Big

EV Life

The Inflation Reduction Act contains a complete list of eligible vehicles , which includes the Chevy Bolt EV and Chevy Bolt EUV. The Chevy Bolt EV and Bolt EUV are both on the list of eligible vehicles for the CVRP program. Grants are given directly to the dealer to lower the overall cost of the qualifying vehicle.

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

EV Life

The list of electric vehicles that qualify for the federal tax credit shrunk from 35 to 14, according to the US Department of Energy. The dealership then submits “time of sale” paperwork to the IRS, and the IRS reimburses the dealer the credit amount. Which Electric Vehicles Still Qualify for the Tax Credit?