Vehicle Exchange Colorado (VXC) Program

Point of sale rebates are only available to those who complete a VXC rebate application. CEO will accept rebate applications on an ongoing basis. To apply, applicants will need to provide their name, contact information, driver’s license, proof of income qualification, and proof of current residency in the state of Colorado. Find the list of acceptable income and address documentation below in the “VXC Participant Eligibility” section.

We will review applications within 10 business days. If there are any issues with an application, we will reach out to the applicant and they will have 10 calendar days to fix the issues (e.g., provide additional or different documentation). Applications must be approved before rebates are issued. Failure to provide any of the required application information will prevent processing of the application.

Rebate recipients must redeem their rebates within one hundred eighty (180) calendar days of being issued a rebate. Only one rebate per tax household is available at this time. Recipients may only redeem their rebates at participating automobile dealers in Colorado (see the “Participating Automobile Dealers” section below). The rebate amount cannot exceed the purchase price of the EV, nor can it include taxes or shipping costs.

If you need assistance with your application, please contact the rebate program’s customer service team:

• Phone: 833-933-9602
• Email: vxc@aptim.com
   

To be eligible for a VXC rebate, you must be a resident of Colorado, 18 years of age or older, income-qualified, eligible to purchase or lease a vehicle in Colorado, and own an eligible old or high-emitting vehicle (see the “VXC Requirements for Old or High-Emitting Vehicles Eligible for Exchange” section below). A valid Colorado driver license is required.

Proof of Address

Proof of a current physical Colorado address is required. All documents must be dated within one year of application. Acceptable proof of address documents include:

• Colorado driver's license with current address
• Computer-generated bill (utility, credit card, doctor, hospital, etc.) 
• Bank statement 
• Pre-printed pay stub
• First-class mail (from a government agency or court) 
• Current homeowner’s, renter’s, motor vehicle insurance policy 
• Mortgage, lease, or rental contract 
• Motor vehicle registration 
• USPS change of address form (CNL107) 
• Military service record (DD214) 
• Recent transcript or report card from an accredited school

Individuals who are unable to provide any of these documents to verify a physical State of Colorado address may be eligible to provide alternative documents, such as a letter from a local government agency or non-profit organization explaining their situation.

Income Qualification

Income eligibility is determined by income and household size, based on the index Area Median Income (AMI) in an individual’s county of residence. To meet the income-qualifications for the VXC rebate, your household income needs to be below 80% of the area median income (AMI).

• Example: You live in Eagle County. There are three people in your household. Your household income would need to be below $85,200 to be eligible for the rebate.

All proof of income documents must be dated within one year of application (unless otherwise noted below). Applicants must submit one of the following from the list of approved documents below:

• First page of your 2022 Federal tax form 1040 (Line 9 – Total Income is used)
  • If Social Security is the only source of income and the individual is not required to file taxes, use form SSA-1099.
• Proof of enrollment in any one of the following programs:
  • Colorado Affordable Residential Energy (CARE) Program 
  • Colorado’s Weather Assistance Program (WAP) 
  • Medicaid
  • Regional Transportation District (RTD) LiVE
  • Section 8 voucher holder
  • Social Security Disability Insurance (SSDI)
  • Special Supplemental Nutrition Program for Women, Infants, and Children (WIC)
  • State of Colorado Low-Income-Energy Assistance Program (LEAP)
  • Supplemental Nutrition Assistance Program (SNAP)
  • Supplemental Security Income (SSI)
• Pay stubs (within last six months)

A resident’s old or high-emitting vehicle must meet the following requirements to qualify for a vehicle exchange rebate through VXC:

• 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).
• The vehicle title must be issued solely to the participant.
• The vehicle must be currently titled in Colorado.
• The participant’s name must match the name on the vehicle title.
• The vehicle title cannot have a lien (e.g., there cannot be an outstanding loan for the vehicle).
• The vehicle must be currently registered under the participant’s name with the Colorado Department of Motor Vehicles (DMV).
• The vehicle title must be either a clear title, bonded title, reconstructed title, affidavit title, rebuilt title, water damage title, or odometer rollback title. It cannot be a salvage title, junk title, or dismantled title.

Note: hybrid vehicles, motorcycles, recreational vehicles (RVs), campers, and boats are not eligible to exchange through VXC at this time.

Through the VXC program, participants may redeem a point of sale rebate for the following types of vehicles, purchased or leased at an authorized automobile dealer:

• 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.

Learn more about these types of vehicles on the EV CO website.

You can get a rebate on any new electric vehicle (battery electric or plug-in hybrid electric) with a manufacturer’s suggested retail price (MSRP) of $50,000 or less. 

To determine the MSRP of the vehicle, refer to the Innovative Motor Vehicle Credit guidance document from the Colorado Department of Revenue. Note: the MSRP does not include destination charges or optional items added by the dealer, or taxes and fees.

For a used electric vehicle (battery electric or plug-in hybrid electric), the final negotiated purchase price must be $50,000 or less. Note: the final negotiated price does not include destination charges or optional items added by the dealer, or taxes and fees.

Eligible Colorado residents can receive the following rebate amounts for a qualified electric vehicle purchase or lease (note: a lease term must be a minimum of two years).

• New electric vehicle (BEV or PHEV): $6,000
• Used electric vehicle (BEV or PHEV): $4,000

The State allows VXC participants to combine the VXC program rebate with state and federal tax credits and other EV rebates. However, other EV rebate programs may not allow participants to combine their rebate with a VXC rebate or other EV incentive (e.g., tax credits). We recommend that participants reach out directly to these other EV rebate programs to find out whether they allow participants to combine their rebate with the VXC rebate and other EV incentives for the same vehicle purchase or lease.

After applying all other available rebates, tax credits, or other discounts, the VXC rebate may not exceed the remaining purchase or lease price of the vehicle. 

• For example, if a new EV costs $9,900 and a participant receives a $5,500 rebate from Xcel Energy, the participant may only redeem $4,400 of their $6,000 VXC rebate to cover the remaining cost of the vehicle. 

Participants may not use the VXC rebate to pay sales tax or shipping costs.

The VXC program will not provide any additional trade-in value for the old or high-emitting vehicle beyond the VXC rebate.

Rebate recipients can only redeem a VXC rebate to purchase or lease an EV from an authorized automobile dealer. The vehicle must be purchased or leased on or after the launch of the VXC program. Rebates are not retroactive to past purchases or leases.

Note: CEO will continue to add authorized automobile dealers as they are approved over the next month.

Use the map and/or list of participating automobile dealers below to find an authorized dealer near you.

See list of participating automobile dealers

If you are an automobile dealer in Colorado and are interested in participating in the Vehicle Exchange Colorado Program as an authorized automobile dealer, please fill out the Vehicle Exchange Colorado pre-registration form for automobile dealers. Additional registration information for automobile dealers can be found at the link below.

Vehicle Exchange Colorado – Registration Information for Automobile Dealers