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* VEHICLE CREDITS CAN BE APPLIED AT POINT-OF-SALE *

Our "No Hassle Price" online does NOT include any Point-of-Sale IRS Used Clean Vehicle Credits or Vehicle Exchange Program credits. If you qualify, credits can be applied at Point-of-Sale as seen above in the example.



IRS Used Clean Vehicle Credit

For all details, Click This Link

Beginning January 1, 2023, if you buy a qualified used electric vehicle (EV) or fuel cell vehicle (FCV) from a licensed dealer for $25,000 or less, you may be eligible for a used clean vehicle tax credit. The credit equals 30% of the sale price up to a maximum credit of $4,000.

If you do not transfer the credit, it is nonrefundable when you file your taxes, so you can't get back more on the credit than you owe in taxes. You can't apply any excess credit to future tax years.

At the time of sale, a seller must give you information about your vehicle's qualifications. Sellers must also register online and report the same information to the IRS. If they don't, your vehicle won't be eligible for the credit.

Who Qualifies? To qualify, you must:

- Be an individual who bought the vehicle for use and not for resale
- Not be the original owner
- Not have claimed another used clean vehicle credit in the 3 years before the purchase date
- $150,000 for married filing jointly or a surviving spouse
- $112,500 for heads of households
- $75,000 for all other filers
- Not be claimed as a dependent on another person's tax return

What EVs Qualify? To qualify, a vehicle must meet all of these requirements:

- Have a sale price of $25,000 or less. Sale price includes all dealer-imposed costs or fees not required by law. It doesn't include costs or fees required by law, such as taxes or title and registration fees.
- Have a model year at least 2 years earlier than the calendar year when you buy it. For example, a vehicle purchased in 2023 would need a model year of 2021 or older.
- Not have already been transferred after August 16, 2022 to a qualified buyer.
- Be for use primarily in the United States
- Have a gross vehicle weight rating of less than 14,000 pounds
- Be an eligible FCV or plug-in EV with a battery capacity of least 7 kilowatt hours



Vehicle Exchange Colorado (VXC) Program

For all details, Click This Link

- Buyer MUST be qualified with the VXC Program and have their Rebate Code before purchasing a vehicle at Urban Motors
- Participants may redeem a Point-of-Sale Rebate from Urban Motors


What Vehicles Qualify? To qualify, a vehicle must meet all of these requirements:

- 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.


What Vehicles Qualify for the Redemption? To qualify, a vehicle must meet all of these requirements:

A Coloradan'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 2012 or older for a 2024 application)
- 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.

 

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