(COLORADO) — Federal rebates for electric vehicles are set to expire on Sept. 30, significantly earlier than the original deadline of 2032.

The rebates, which offer a federal tax credit of $7,500, were shortened due to the passing of President Donald Trump’s spending bill. This change has accelerated the deadline by nearly seven years.

In addition to the federal rebate, Colorado offers a $3,500 state tax credit for electric vehicles, which can further increase savings for buyers. Consumers can potentially save up to $11,000 when combining federal and state incentives, along with other ongoing programs in Colorado.

There is also an additional $2,500 credit available for EVs priced under $35,000.

Despite some models being on back order, as long as the paperwork is done before the deadline you can qualify for the rebate. Dealerships are accommodating buyers by providing the credit at the time of purchase, but you can also file the rebate yourself to claim the tax credits during the next tax filing season.

Colorado also provides leasing options with competitive prices for electric vehicles.

For lower-income Coloradans, a vehicle exchange program offers up to an additional $6,000 credit, if you make the switch from gas-powered cars.

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