Scotland’s government will extend the Low Carbon Transport Loan to cover used EVs for the first time, starting on September 28. The extension will now enable an individual or business to obtain a loan of up to £20,000, interest free, over five years.
The loan is being expanded to help people who may otherwise be put off by the purchase price of electric vehicles.
Cabinet Secretary for Transport, Infrastructure and Connectivity Michael Matheson said:
The global shift toward 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.
No one who requires a vehicle should be left behind from the benefits these modern vehicles can bring, both in terms of running costs and the environmental benefits.Extract from Elektrec 15 Sept 2020