Colorado launches $5350 incentives on Tesla EVs in addition to $7500 Federal Credit

Colorado has launched $5350 incentives on Tesla electric vehicles (EVs) and customers claim it alongside the Federal Tax Credit to get maximum savings on a new EV.

Customers in the state can buy from Model 3, Model Y, Model S, and Model X. However, plaid models won’t get any of these credits due to the $80,000 MSRP ceiling.

Also, anyone who wants to benefit from this incentive can fetch it at the point of sale. Therefore, it will make purchases even more comfortable.

Tesla Model 3 Colorado and Federal Tax Incentives (Source – Tesla)

Two incentives are available across all financing options cash, lease, and EMIs. Tesla Model Y and 3 offering a promotional 1.99% APR for up to 72 months. It could become a good deal for anyone who wants to finance them.

Tesla Financing with Colorado and Federal Tax Credit (Source – Tesla)

Here are the prices for Tesla models after applying these two credits together:

Model 3

• Rear Wheel Drive goes down to $33,640 ($38,990 MSRP) – This model is not eligible for Federal Tax Credit due to its battery sourcing but it can claim the Colorado incentives)
• RWD Long Range down to $29,640 after incentives ($42,490 MSRP)
• AWD Long Range down to $34,640 after incentives ($47,490 MSRP)
• Performance  down to $42,140 after incentives ($54,990 MSRP)

Tesla Model Y

• RWD Long Range down to $32,140 after incentives ($44,990 MSRP)
• AWD Long Range down to $35,140 after incentives ($47,990 MSRP)
• Performance  down to $38,640 after incentives ($51,490 MSRP)

Model S

• AWD is down to $69,640 after incentives ($74,990 MSRP) with only the Colorado EV incentive.

Model X

• AWD is down to $67,140 after incentives ($79,990 MSRP) with state and Federal tax incentives.

Interestingly, the Model 3 Long Range RWD is now the lowest price and it’s also the most efficient with 363 miles of EPA estimated range.

This offer is available only to Colorado residents and can’t apply to other states. However, some states also have similar incentives to boost EV sales. Nonetheless, you can claim Federal tax credit on all eligible vehicles anywhere across the US.