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Wednesday, March 21, 2012

Colorado Volt Buyers Eligible for $13,500 in Tax Credits

Colorado residents who purchase or lease a new Chevrolet Volt electric vehicle with extended range are eligible for a state tax credit of up to $6,000 in addition to a federal tax credit of up to $7,500 for a total price reduction of as much as $13,500.

Colorado is one of a number of states that is offering a state tax credit in addition to the federal tax credit, which is subject to the customer’s eligibility. For example, Volt customers who purchase a low-emission model of the 2012 Chevrolet Volt, which is standard in California, will qualify for a $1,500 state rebate and will be eligible to drive solo in the state’s carpool lanes. A tool to determine specific state or local electric vehicle tax credits is available here.

“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.”

The Volt was recently selected by Kelley Blue Book with its 2012 Total Cost of Ownership Award for Electric vehicles.

“The additional tax credit that the state of Colorado is offering to purchasers of plug-in hybrid electric vehicles (PHEVs) further reduces the effective five-year Total Cost of Ownership that owners of these can expect to pay,” said Juan Flores, director of vehicle valuation for Kelley Blue Book. “This furthers the value proposition for owning a vehicle like the Chevrolet Volt, making it a great time to buy one.”

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