I’ve written previously about EVs and why I think folks should consider buying one. Apparently many Coloradans agree, as 25.3% of the cars sold in Colorado in the 3rd quarter were EVs. If you are a Colorado resident and are considering a new (or used) car, I would highly recommend you consider purchasing before the end of the year. That’s because the Colorado tax incentive for new EVs drops from $5,000 to $3,500 on January 1st, and the incoming Trump Administration has signaled that they will likely eliminate the Federal EV tax incentives in future tax years. So if you live in Colorado and buy a new EV this month that qualifies for the Federal tax incentive, you will get up to $12,500 in Federal and State incentives (and up to $15,000 if the MSRP is less than $35k). If you wait until January 1st, you might only get $3,500 ($6,000 if MSRP is less than $35k). In addition, lower income Coloradans (up to 80% of the median household income in their county) can qualify for an additional incentive if they have a qualified vehicle to trade in.
I went through and did some quick searching on available inventory for both new and used EVs. Some of these qualify for both the Federal and Colorado incentives, and some only qualify for the Colorado incentive. For the new vehicles, I’ve bolded the ones that I think are especially good deals. (For the used vehicles, they are all good deals.)
| New Vehicle | Inventory Prices Starting At | Price after all Federal and Colorado Tax Incentives | Price After Qualified Trade In for Lower Income Households |
| Chevy Blazer EV | $43,194 | $30,694 | $24,694 |
| Chevy Equinox EV | $34,995 | $19,995 | $13,995 |
| Chevy Silverado EV | $70,195 | $57,695 | $51,695 |
| Ford F-150 Lightning | $65,590 | $53,090 | $47,090 |
| Ford Mustang Mach-E | $58,320 | $53,320 | $47,320 |
| Honda Prologue | $47,400 | $34,900 | $28,900 |
| Hyundai Ioniq 5 | $43,995 | $38,995 | $32,995 |
| Hyundai Ioniq 6 | $39,970 | $34,970 | $28,970 |
| Hyundai Kona EV | $35,255 | $30,255 | $24,225 |
| Kia Niro EV | $41,300 | $36,300 | $30,300 |
| Kia EV 6 | $50,250 | $45,250 | $39,250 |
| Kia EV 9 | $60,975 | $55,975 | $49,975 |
| Nissan Ariya | $41,240 | $36,240 | $30,240 |
| Nissan Leaf | $29,280 | $14,280 | $8,280 |
| Subaru Solterra | $46,340 | $41,340 | $35,340 |
| Tesla Model 3 | $36,490 | $23,990 | $17,990 |
| Tesla Model Y | $37,990 | $25,490 | $19,490 |
| Used Vehicle | Inventory Prices Starting At | Price after all Federal Incentives | Price After Qualified Trade In for Lower Income Households |
| Chevy Bolt EV | $16,394 | $12,394 | $8,394 |
| Hyundai Kona EV | $22,990 | $18,990 | $12,990 |
| Kia Niro EV | $16,990 | $12,990 | $8,990 |
| Nissan Leaf | $13,990 | $9,990 | $5,990 |
| Subaru Solterra | $20,438 | $20,438 | $16,438 |
| Tesla Model 3 | $25,596 | $25,596 | $21,596 |
| Tesla Model Y | $22,100 | $18,100 | $14,100 |
Note that these are all “prices starting at”, so obviously you may spend more if you choose a different vehicle.
So, if you are in the market for a new (or new to you) vehicle, I highly encourage you to check out what’s available and see if they might meet your use case. Not only can you get a really good deal (that’s also good for the world), but your ongoing total cost of ownership for an EV is going to be less than for an ICE vehicle. So this is a deal that will continue to save you money even after you purchase the vehicle.
Fisch Financial 