2025 Chevrolet Silverado EV Deals, Incentives & Rebates

The Colorado Department of Revenue offers the Innovative Truck Tax Credit, up to $3,500 for the purchase or lease of an eligible new all-electric, plug-in hybrid, or hydrogen fuel cell electric vehicle. To qualify: Credit amount for qualifying vehicle purchase or lease beginning on or after 1/1/2025 but prior to 1/1/2026: $3,500. Gross Vehicle Weight Rating must be greater than 8,500 lbs., but not more than 10,000 lbs. Motor vehicle must be titled and registered in Colorado to qualify for the credit. The motor vehicle or truck must be new and not previously titled or registered in any jurisdiction. Additional information: If the purchaser or lessee assigns the entire allowable credit to a financing entity or motor vehicle dealer, an administration fee up to $250 may apply and reduce the credit amount. To learn more, visit https://tax.colorado.gov/income-tax-topics-innovative-truck-credit

Funded by the Colorado Community Access Enterprise, the Vehicle Exchange Colorado (VXC) program offers $6,000 to income-eligible residents for the replacement of their old or high-emitting vehicles. Applicants with approval will receive this incentive at point-of-sale through participating authorized dealers for the purchase or lease of a qualified new Battery Electric Vehicle (BEV) or Plug-in Hybrid Electric Vehicle (PHEV). To qualify:

• Must complete a VXC rebate application and receive approval before rebates are issued.
• Income and household size must be below 80% of the area median income in an individual's county of residence.
• May qualify if showing proof of enrollment in eligible state or federal assistance programs.
• MSRP of new vehicle must be $80,000 or less.
• If leasing, lease term must be a minimum of two years.
• Model year of old or high-emitting gas or diesel vehicle must be at least 12 years old; if vehicle fails an emissions test in Colorado, no model year requirement.
• Vehicle must be currently titled and registered in Colorado without lien in the name of participant.
• Participant must be a Colorado resident, 18 years or older.
• Only one VXC rebate is allowed per tax household.

Additional information:

• Can be combined with Federal or State Tax Credits, but participant must verify combinability if applying for other EV offers for same vehicle purchase or lease.

For additional details and to apply, visit https://energyoffice.colorado.gov/vehicle-exchange-colorado