Colorado pays residents $6,000 to swap gas cars.
Colorado Launches Vehicle Exchange Program with Up to $6,000 Incentive
Coloradans now have the opportunity to receive a generous incentive of up to $6,000 by participating in the state’s exciting new Vehicle Exchange Colorado program. This initiative, launched on Thursday, aims to encourage residents to trade in their old gas-powered vehicles for more environmentally friendly options.
Participants in Vehicle Exchange Colorado have two enticing options to choose from. They can either receive a payment of $6,000 to put towards the acquisition or lease of a brand new electric vehicle or plug-in hybrid. Alternatively, they can opt for a $4,000 incentive towards the purchase of a used vehicle.
Eligibility Requirements and Benefits
To qualify for the program, gas- or diesel-powered vehicles being exchanged must be at least 12 years old or fail to pass an emissions test. Additionally, Vehicle Exchange Colorado is exclusively available to residents who meet income-qualifications or have an income that is at or below 80% of their area’s median income.
“In part due to cost, many low- to moderate-income people in Colorado have not had access to electric vehicles. This program will help bridge that gap,” explained Colorado Energy Office Program Manager Edward Piersa.
Increasing Access to Electric Vehicles
Vehicle Exchange Colorado aims to address the disparity in electric vehicle ownership among different income brackets. According to a report, over 80% of the 12,000 homes that received a state EV tax credit from 2017 to 2020 had an annual income of over $100,000. By offering substantial incentives, the program hopes to make electric vehicles more accessible to a wider range of Coloradans.
Currently, at least 70 dealerships are pre-registered with Vehicle Exchange Colorado, making it easier for participants to find the perfect electric or plug-in hybrid vehicle.
Don’t miss out on this incredible opportunity to upgrade your vehicle and contribute to a greener future. Click here to learn more about Vehicle Exchange Colorado and how you can take advantage of this exciting program.
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