Colorado Will Pay Some Residents $6,000 To Trade In Their Old Car For An EV

These days, most new cars are out of reach for Americans who don’t earn six figures, and that includes the vast majority of electric cars. So in order to get more drivers behind the wheel of something more environmentally friendly, Colorado has announced an exchange program that gives owners of older gas and diesel vehicles a little extra money if they replace them with new EVs or plug-in hybrids.

CPR News reports that the new program, called Vehicle Exchange Colorado, will give buyers a rebate to use toward the purchase or lease of an EV or PHEV. Participants who get a new car will get $6,000, while those who go used will get $4,000. But if you’re planning to use the rebate to put a new Porsche Taycan Cross Turismo in the garage of your Vail vacation home, we have some bad news. The program is meant to help people who aren’t super well-off.

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