Everything You Need to Know About the Vehicle Exchange Colorado (VXC) Program!
Colorado’s vehicle exchange program makes your upgrade to an EV even more affordable. We have all your questions answered on who qualifies for the rebate and which vehicles are eligible.
What Is Colorado's Vehicle Exchange (VXC) Program?
The Vehicle Exchange Colorado (VXC) program is a new program to help income-qualified Coloradans recycle and replace their old or high-emitting vehicles with electric vehicles. The VXC rebate will partially cover the upfront cost of the EV at the time of purchase or lease from an authorized automobile dealer. VXC participants can receive a rebate of $6,000 towards a new Battery Electric Vehicle (BEV) or Plug-in Hybrid Electric Vehicle (PHEV) with a manufacturer’s suggested retail price (MSRP) or purchase price of $80,000 or less. Participants can receive $4,000 towards a used BEV or PHEV with a manufacturer’s suggested retail price (MSRP) or purchase price of $50,000 or less.
In addition to the VXC rebate, eligible Coloradans may also take advantage of the state income tax credit, the federal income tax credit, and utility electric vehicle rebates. Only one VXC rebate is allowed per tax household. Visit the VXC website to learn more about this vehicle exchange program.
To qualify for the VXC program, a participant must be:
- A Colorado resident
- 18 years or older
- Eligible to purchase or lease a vehicle in Colorado
- Own an eligible old or high-emitting vehicle (see the “Which vehicles can be exchanged?” section below)
- Meet at least one of the following income requirements:
- Household income below 80% of the area median income in the county where the resident lives OR
- Enrollment in any one of the following financial assistance programs:
- Colorado Affordable Residential Energy (CARE) Program
- Colorado’s Weather Assistance Program (WAP)
- Regional Transportation District (RTD) LiVE
- Section 8 voucher holder
- Special Supplemental Nutrition Program for Women, Infants, and Children (WIC)
- State of Colorado Low-Income-Energy Assistance Program (LEAP)
- Supplemental Nutrition Assistance Program (SNAP)
A resident’s old or high-emitting vehicle must meet the following requirements to qualify for a vehicle exchange rebate through VXC:
- The vehicle title must be issued to solely the participant.
- The vehicle title cannot have a lien (e.g., there cannot be an outstanding loan for the vehicle).
- The vehicle title cannot be a salvage title, junk title, or dismantled title.
- The vehicle must be currently titled in Colorado.
- The vehicle must be currently registered under the participant’s name with the Colorado Department of Motor Vehicles (DMV).
- The vehicle must be operational.
- The vehicle must be gasoline- or diesel-powered.
- The vehicle must meet one or more of the following criteria:
- Vehicle model year must be at least 12 years old (e.g., model year 2011 or older for a 2023 application) OR
- The vehicle fails an emissions test in Colorado (no model year requirement).
Note: hybrid vehicles, motorcycles, recreational vehicles (RVs), campers, and boats are not eligible for VXC at this time.
Through the VXC program, participants may redeem a point of sale rebate for the following types of vehicles:
- Battery electric (BEV), or fully electric vehicles, which are powered completely by a battery. They produce zero tailpipe emissions.
- Plug-in Hybrid Electric Vehicles (PHEVs), which are powered by a battery, with an average range of 20-50 miles, and a traditional gas tank and engine. PHEVs produce tailpipe emissions when powered by gasoline; however, the PHEV’s battery can normally cover the majority of someone’s daily driving needs.
VXC participants can receive a rebate on any new electric vehicle (battery electric or plug-in hybrid electric) with a manufacturer’s suggested retail price (MSRP) of $80,000 or less. For a used electric vehicle (battery electric or plug-in hybrid electric), the final negotiated purchase price must be $50,000 or less. VXC participants can only purchase or lease a new or used BEV or PHEV from a VXC-authorized automobile dealer.
Want to Find More Ways to Save?
Visit our Save Money page to see other ways EVs can save you money, from tax credits and cheaper fueling costs to reduced maintenance and even more utility-based rebates when you install at-home charging!