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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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Lightning eMotors introduces new generation 4 Lightning Electric Transit Class 3 Van; battery-electric and fuel cell electric variants

Green Car Congress

In 2021, Colorado's Lightning eMotors is introducing a new Generation 4 model of its popular Lightning Electric Transit Van. This new battery technology and other upgrades give them the range, power and features at the price they need to scale up their electric fleets. —Tim Reeser, CEO of Lightning eMotors.

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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. Just about every reviewer laughs at the current Mirage (I think it's a perfectly serviceable little car for the price) and the Outlander is all about easy financing.

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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.’ Finance your EV for less. How our EV Climate Loan works: Pre-qualify in minutes.

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

EV Life

However, some automakers have indicated that they will make the necessary changes to their pricing, sourcing, or manufacturing in the coming year to place some models back on the list. The dealership then submits “time of sale” paperwork to the IRS, and the IRS reimburses the dealer the credit amount.

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EV Chargers for All!

Cars That Think

Even without a son soon to be entering college, the premium prices of EVs were a turnoff. The dealer explained that “a huge number of buyers were returning the EVs they bought” until he discouraged them. Even as used EV prices decline, the vast majority are still out of most renters’ budgets. Two obstacles stood in his way.