Gurule92
Well-known member
- Joined
- Sep 2, 2021
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- Location
- Colorado Springs
- Vehicles
- MYP
- Occupation
- "Cyber" stuff
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- #1
Okay, so check this out.
I live in CO and during the last couple years I've been working part time and going to school using gi bill. This is an important detail because it lowers my taxable income.
In CO, you get the 5k that everyone knows about and the federal 7500 if you pick the right vehicle. That 5k is not POS unless you go to a dealer that is set up for it (which tesla is not).
I recently found out that CO has what they call the vehicle exchange program (or something like that). This program gives you a voucher for 6k to use toward a an EV if you trade in a vehicle that is 2012 or older, or failed an emissions test. BUT you have to make under the median income in your county for the number of people in your household. Which luckily, because of my part time and untaxable income, I did during 2023.
The lady I spoke with today says they go off your tax return.
So, if I play my cards right. Since I am trading an 09 civic toward CT which tesla valued recently at 7500, If tesla ever sells the 79990 truck. Those in a position similar to mine, would be able to get 7500+5000+6000 = 18500 off the truck with 13500 POS. My situation would give me 26000 after trade!
Side note, if the CT was magically under 35k (or was a bolt or something) CO adds another 2500 rebate! But this wouldnt count toward CT
79990 - 26000 = 53990! (Almost to 2019 price lol)
I basically have to get this 79k CT this year though because when I file for 2024 taxes I for sure wont qualify since I'm back to full time.
If it's not looking good by like December, I may have to scoop up another model Y (or maybe a bolt EUV to be under 35k lol). Then I could trade my MYP for CT when the time comes and my wife could keep the LR. idk.
Time to move to CO y'all! lol
*** Edit: it looks like it's either the credit or trade in value? Their faq says you don't get trade in value. So it looks like I'll have to sell private party and buy a 500 car that qualifies and then do the trade for 6k
I live in CO and during the last couple years I've been working part time and going to school using gi bill. This is an important detail because it lowers my taxable income.
In CO, you get the 5k that everyone knows about and the federal 7500 if you pick the right vehicle. That 5k is not POS unless you go to a dealer that is set up for it (which tesla is not).
I recently found out that CO has what they call the vehicle exchange program (or something like that). This program gives you a voucher for 6k to use toward a an EV if you trade in a vehicle that is 2012 or older, or failed an emissions test. BUT you have to make under the median income in your county for the number of people in your household. Which luckily, because of my part time and untaxable income, I did during 2023.
The lady I spoke with today says they go off your tax return.
So, if I play my cards right. Since I am trading an 09 civic toward CT which tesla valued recently at 7500, If tesla ever sells the 79990 truck. Those in a position similar to mine, would be able to get 7500+5000+6000 = 18500 off the truck with 13500 POS. My situation would give me 26000 after trade!
Side note, if the CT was magically under 35k (or was a bolt or something) CO adds another 2500 rebate! But this wouldnt count toward CT
79990 - 26000 = 53990! (Almost to 2019 price lol)
I basically have to get this 79k CT this year though because when I file for 2024 taxes I for sure wont qualify since I'm back to full time.
If it's not looking good by like December, I may have to scoop up another model Y (or maybe a bolt EUV to be under 35k lol). Then I could trade my MYP for CT when the time comes and my wife could keep the LR. idk.
Time to move to CO y'all! lol
*** Edit: it looks like it's either the credit or trade in value? Their faq says you don't get trade in value. So it looks like I'll have to sell private party and buy a 500 car that qualifies and then do the trade for 6k
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Why doesnt CO and Tesla they put the word out about this program? My niece could have qualified for it.
