Buying an electric car in Colorado just got $5,000 cheaper
At least I can get the full credit on my CPO Model S purchase under the old law.
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.Coloradans shopping for an alternative-fuel vehicle will soon have a new incentive: $5,000 off at the time of purchase. House Bill 16-1332 awaits Gov. John Hickenlooper's signature. It replaces the old plan in which eligible owners struggled with a series of calculations (price multiplied by kilowatts divided by 100) that offered a credit on Tax Day.
Under the new rules, lenders deal with the paperwork so buyers receive the discount immediately.
At least I can get the full credit on my CPO Model S purchase under the old law.