The Scottish government’s Low Carbon Transport Loan is expanding to include used EVs for this first time.
From 28 September 2020 people and businesses requiring financial assistance in making the switch to an electric vehicle can apply for an interest-free loan of up to £20,000 to purchase either a new or used EV.
The Scottish government said it hopes the loan extension, delivered through the Energy Saving Trust, will help individuals and businesses daunted by the cost of purchasing an EV.
Michael Matheson, Scotland’s cabinet secretary for transport, infrastructure and connectivity, said: “Expanding our Low Carbon Transport Loan will make it easier for more people to access the benefits of modern ultra-low emission vehicles.
“The global shift towards electric vehicles means that prices are coming down year on year, but the price point for new vehicles remains high for many. We want to make it easier for people to switch by providing interest free finance options for used vehicles.”
As well as already providing £85m to help people move away from new petrol and diesel cars, the Scottish government has also funded EV car clubs for registered social landlords, allowing them to provide affordable access whilst reducing the need for car ownership.
Furthermore, support is available through the Energy Saving Trust for the purchase of e-bikes and e-cargo bikes.