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Colorado residents can get $13,500 in tax credits for purchasing Chevy Volt

Colorado residents who are looking to buy or lease the Chevy Volt will be happy to hear they are eligible to receive a total of $13,500 in federal and State Tax credits.
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The great and beautiful state of Colorado offers a generous state tax credit of up to $6,000 if you buy or lease a Chevy Volt. In addition you can also receive the well known (and publicized) federal tax credit of up to $7,500. This means the total savings cold be as much as $13,500 for potential Chevy Volt buyers and other electric vehicles in the state of Colorado.

Colorado is not the only state to offer a state tax credit on top of the federal tax credit and other incentives for consumers looking to buy electric vehicles. In California someone who purchases a low-emissions vehicle will qualify for a $1,500 state rebate. Better than the tax credit though, you only need one person in the vehicle to use the coveted carpool lane otherwise known as the HOV (High Occupancy Vehicle) lane. Making your trip faster, easier, more convenient. It also make you feel great about buying and driving an electric car! (Of course for the wrong reasons.)

“This rebate in Colorado provides an extra incentive for those that want to purchase or drive an energy-efficient and technologically advanced vehicle like the Chevrolet Volt,” said Volt Marketing Director Cristi Landy. “With the available state and federal tax credits, along with the fuel savings that many owners experience by charging daily, the Volt can fit the lifestyles and budgets of many people.”

What would make the $6,000 Colorado state tax credit even better? Recently the Obama administration has proposed increasing the federal tax credit from $7,500 to a whopping $10,000 on electric and alternative-energy vehicles for consumers. This was proposed for the 2013 budget and would apply to vehicles under $45,000, while vehicles over that would receive a $7,500 federal tax credit. That means a Colorado resident could potentially save $16,000 on an electric vehicle!

Colorado residents are also eligible to receive a state tax credit of $4,713.00 for buying Hybrid vehicles, like the Toyota Prius or Honda Insight. (It is important to note that all Colorado state tax credits for electric vehicles will vary by customer eligibility, the type of vehicles, battery size, and other factors.)

With Colorado having beautiful scenery, mountains for skiing, great outdoor activities, and stunning national parks, it has always been a great place to visit. If you are an electric vehicle enthusiast or looking to buy an electric vehicle, it seems this is great place to move to now.


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Comments

To clarify, a LEASE doesn't get you a federal tax credit, but the lease owner (i.e. dealership or bank) gets the credit. Leasees usually get that trickled down as a cost break, but some leases are holding this until the end of the lease upon turning in the car. Not sure on Colorado, but I would suspect that the lease credit works the same, since leasing is not the same as purchasing. Of course, if you live in a place that has no income taxes, then all of these "incentives" don't matter. That, of course, would be ideal. :)