Colorado to pay residents $6000 to trade old car for new EV

The vehicles that are traded in should be at least 12 years old or should have failed an emissions test.

According to a media report, the state of Colorado, USA, has started a new vehicle exchange program, wherein residents will get a rebate upon agreeing to replace their old ICE-powered cars with new EVs or plug-in hybrids.

Participants purchasing a new EV will get a rebate of $6000, while those opting for a used car will get $4000. However, the exchange program isn’t for everybody. As per reports, the rebate for exchanging old cars for EVs is applicable only to people who aren’t super well-off. To qualify for the rebate, people must be part of the state’s income-qualified programs or make less than 80% of their county’s median income.

Another requirement is that the vehicles that are traded in should be at least 12 years old or should have failed an emissions test.

Edward Piersa, Program Manager, Colorado Energy Office, stated, “This is a program that is very much designed to help recycle and replace those older high-emitting vehicles with electric vehicles.” He added, “In part due to cost, many low- to moderate-income people in Colorado have not had access to electric vehicles. This program will help bridge that gap.”

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