If you’re considering a used electric or hydrogen vehicle for your business and you operate in Scotland, we offer an interest-free loan for businesses, repayable over five years.
The used electric vehicle loan for business is funded by Transport Scotland and can support the purchase of the following used vehicles:
- electric cars and vans (must cost less than £30,000)
- electric mopeds and motorcycles (must cost less than £5,000)
- electric utility vehicles (must cost less than £10,000)
- hydrogen vehicles (must cost less than £30,000)
Our cost caps include VAT.
The loan amount available varies depending on how your business is registered:
- For limited companies, you can borrow up to £90,000.
- For sole traders or partnerships, you can borrow up to £75,000.
This means you can make multiple applications (subject to availability of funds), but you cannot owe us more than the total funding available at any time.
Whichever used vehicle you choose to purchase with the loan, it must be purchased from an acceptable dealership. The dealership must be either: