TMC is an independent, primarily volunteer organization that relies on ad revenue to cover its operating costs. Please consider whitelisting TMC on your ad blocker or making a Paypal contribution here: paypal.me/SupportTMC

Colorado $6000 tax credit changes to $5000 point-of-sale rebate

Discussion in 'Mountain/Southwest' started by dgpcolorado, May 18, 2016.

  1. dgpcolorado

    dgpcolorado Member

    Joined:
    Apr 25, 2015
    Messages:
    697
    Location:
    The Western Slope, Colorado
    Buying an electric car in Colorado just got $5,000 cheaper

    While the drop from $6000 to $5000 is a bit disappointing to me, the new rebate should make things much simpler and, perhaps, increase EV sales. But it also eliminates (so far as I can tell from a quick read of the bill) the Colorado tax credit on used EVs that haven't been registered in the state before, which is another disappointment. Any Coloradan considering a used EV purchase might want to complete it this year.

    At least I can get the full credit on my CPO Model S purchase under the old law.
     
  2. MileHighMotoring

    Joined:
    May 27, 2015
    Messages:
    789
    Location:
    Parker, CO
    There was already a thread on this - admins deleted it? I can't find it. It was active yesterday and today and vanished.
     
  3. Barry

    Barry Member

    Joined:
    Aug 9, 2013
    Messages:
    778
    Location:
    Colorado
    Terribly deceptive title (from the Denver Post, not you) and poor reporting.
     
  4. MileHighMotoring

    Joined:
    May 27, 2015
    Messages:
    789
    Location:
    Parker, CO
    Fair enough - can't mods edit the thread title in lieu of deleting it?
     
  5. dgpcolorado

    dgpcolorado Member

    Joined:
    Apr 25, 2015
    Messages:
    697
    Location:
    The Western Slope, Colorado
    There was a thread in the New England forum by someone comparing the new Colorado incentives to those they have there. I decided a thread here would be more useful for Coloradans. If mods don't like it, they can delete it I suppose.

    I agree that the article title is misleading. I just put in the DP link. In retrospect I should have put in my own url code and forced the system to use my own link title.
     
  6. Mkorpal

    Mkorpal Member

    Joined:
    Mar 17, 2016
    Messages:
    109
    Location:
    Denver
    I like the idea of the rebate going to the financing company in the form of a down payment, rather than having to deal with it as a credit going to me (and having to deal with all that mess). But I fear the usual government bureaucracy screwing it all up. Like the repo guys picking up my car because the bank never got the 5 grand from the state.
     
  7. MorrisonHiker

    MorrisonHiker Beta Tester

    Joined:
    Mar 8, 2015
    Messages:
    1,893
    Location:
    Morrison, Colorado, USA
    While the article does mention that you can still claim the credit when filing your taxes, it doesn't mention that if you chose to transfer the credit to the lender, they can charge $150 for that service.

    It probably will make things cheaper overall if it reduces sales tax and registration fees as well.
     

Share This Page