Funding news - 06/10/2017
Electric Vehicle Loan (Scotland) - Applications Remain Open
Funding is available to support drivers in Scotland to purchase a plug-in electric vehicle.
The interest-free Electric Vehicle Loan, funded by Transport Scotland (an agency of the Scottish Government), currently offers drivers in Scotland loans of:
- up to £35,000 to cover the cost of purchasing a new pure electric / plug-in hybrid vehicle
- up to £10,000 to cover the cost of purchasing a new electric motorcycle or scooter
The loan has a repayment term of up to six years.
Loans are available for residents in Scotland to help with the cost of buying a new electric or plug-in hybrid vehicle. An electric car can be powered, in part or full, by a battery that can be plugged directly into mains electricity. The main types of electric car are:
- Plug-in hybrid EV (PHEV)
- Extended range EV (E-REV)
Loans are only available, and can only be used, for the purchase of a new pure electric and plug-in hybrid vehicle by an individual (not any firm or company) whose principle residence is in Scotland.
With the exception of an initial deposit, applicants must not have made any other payment towards the purchase of the vehicle before receiving a loan offer under this programme as funding is not provided retrospectively.
All applications should be completed and received by Energy Saving Trust at the beginning of March 2018 in order to be processed by the end of March 2018 when the programme expires.
Source: Transport Scotland, 06/10/2017