Colorado EV Tax Credit Increase

Colorado taxpayers just got an incentive to look for Subaru electric cars for sale in Longmont, Colorado. The state has been offering a $2,000 tax credit that can be applied to the purchase of an electric vehicle. Now, that credit is increased to $5,000 starting on July 1, 2023.

Saving Money on Subaru Electric Cars

Qualifying for the State Tax Credit

The state of Colorado has only made a few requirements for the EV tax credit. The first is that you need to be a taxpayer in the state since this is a state tax credit. The second requirement is that the vehicle has to be purchased between July 1, 2023, and December 31, 2024. On January 1, 2025, the EV credit in Colorado will decrease to $3,500 and continue to decline until 2029.

The final requirement is for the vehicle itself. To apply for the credit, the vehicle must have a Manufacturer’s Suggested Retail Price (MSRP) under $80,000.

Finding a Great Electric Subaru

This is a great time to take a closer look at Subaru’s Solterra. The Solterra is an all-electric SUV with symmetrical all-wheel drive, a first for the industry. It averages 114 MPGe in the city and 91 MPGe on the highway. The battery has a capacity of 72.8 kWh.

The electric features are great, but it’s also just a fun vehicle to drive, especially around Colorado. The standard Solterra has a ground clearance of 8.3 inches, making it an excellent vehicle for handling rugged terrain. It also comes standard with advanced safety technology like a blind spot monitor.

Financing Your New Subaru

Colorado’s new EV tax credit increase makes the Solterra a lot more affordable. At Valley Subaru of Longmont, our finance team is here to help you with the rest. We offer competitive interest rates, flexible terms, and fast approvals on our financing plans.

Additionally, our customers can take advantage of the Trade Up Advantage program. The program allows drivers to trade in their previous Subaru and purchase the new Solterra with a customized offer.

Drivers who’ve been considering going electric have a big reason to make a move, thanks to the availability of the increased tax credit. It’s a great time to give the 2023 Solterra the closer look it deserves. Visit Valley Subaru of Longmont now to see our selection of new vehicles.

Tags: colorado, Electric, EV, Subaru, Tax Credit
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