While the Obama administration is proposing a tax credit increase from $7,500 to $10,000 on alternative-energy vehicles for consumers in the near future, the state of Colorado is one-step ahead.
In addition to the federal tax credit of up to $7,500, Colorado is now offering residents who purchase or lease a new Chevrolet Volt a state tax credit of up to $6,000 for a total price reduction of as much as $13,500.
The Volt is priced from $39,145. If you include the $13,500 federal and state tax credits, the cost drops down to $25,645 for Colorado buyers.
Colorado is not the only state offering additional incentives as Volt owners in California can also qualify for a $1,500 state rebate and are eligible to drive alone in the state’s carpool lanes.
“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.”
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