The following information is provided directly from the state of Colorado.

Vehicle Exchange Colorado (VXC) Overview

  • VXC is a state-funded program through the Community Access Enterprise (created by SB21-260).
  • A statewide point-of-sale rebate program to remove high-emitting vehicles from the road and replace them with battery electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs). Program is targeted to launch during summer 2023

Vehicle Exchange Colorado (VXC) Eligibility Requirements

  • A VXC program participant must be a resident of Colorado, income-qualified, AND have their high-emitting vehicle recycled following their BEV/PHEV purchase/lease
  • Must meet at least ONE of the following income criteria:
    • Household income below 80% of area median income (AMI)*
    • Enrollment in other income-qualified programs
  • High-emitting vehicles must meet ALL of the following criteria:
    • Vehicle must be registered under the participant’s name with the Colorado DMV for at least one (1) year
    • Vehicle title must be issued to the participant (e.g., no lien)
    • Vehicle is operational and uses gasoline/diesel as fuel
    • Vehicle is a model year 2011 or older OR fails Colorado emissions test

Vehicle Exchange Colorado (VXC) Rebates

  • Rebate amounts for VXC are still being finalized. Tentative amounts:
    • New BEV or PHEV purchase/lease: $6,000 rebate
      • Lease term must be a minimum of two years
    • Used BEV or PHEV purchase/lease: $4,000 rebate
      • Lease term must be a minimum of two years
  • Participants can receive a rebate on any new or used BEV or PHEV purchase/lease that has a maximum MSRP or purchase price of $50,000

Other Vehicle Rebate Options and Tax Credits

  • Two income-qualified EV rebate programs in CO are currently available through utility companies (no vehicle recycling is required for these rebate programs):
    • Xcel Energy EV Rebate program – $5,500 rebate for new BEV/PHEV purchase or lease; $3,000 for used BEV/PHEV purchase or lease (at least two years)
    • Black Hills Energy Ready EV program – same rebate amounts as Xcel Energy
      • The Black Hills Energy EV rebate program is for purchases only
      • Email address: readyev@blackhillscorp.com
  • Available tax credits:
    • State tax credit (Colorado)*
      • $2,000 for a new BEV or PHEV LD passenger vehicle purchase
      • $1,500 for a 2-year or longer BEV or PHEV LD passenger vehicle lease
    • Federal tax credit
      • New vehicles: Up to $7,500 for the purchase of a qualifying new BEV, PHEV, or Fuel Cell Electric Vehicle (FCEV)
      • Used vehicles: Up to $4,000 for the purchase of a pre-owned BEV, PHEV, or FCEV
Vehicle Exchange Colorado (VXC)

Please contact Ed Piersa at edward.piersa@state.co.us with any questions or to be added to the VXC notification list.

For guidance, feel free to reach out to us at Peak EV Solutions.

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