In September 2020, the Low Carbon Transport Loan was extended to cover used electric vehicles. This means that we can now provide Scottish businesses of all sizes with financial support towards the purchase of a used electric vehicle.
The interest-free Used Electric Vehicle Loan for businesses, funded by Transport Scotland (an agency of the Scottish Government) and administered by Energy Saving Trust, offers businesses in Scotland:
- up to £20,000 to cover the cost of purchasing a used electric car
- up to £20,000 to cover the cost of purchasing a used electric or plug-in hybrid electric van
- up to £5,000 to cover the cost of purchasing a used electric motorcycle or moped
The maximum vehicle cost and loan available is capped at the amounts indicated above. Only used electric cars and vans sold for £20,000 or under or used electric motorbikes and mopeds sold for £5,000 or under are eligible for the loan. Vehicles with a list price over the relevant cap are not eligible.
The Used Electric Vehicle Loan can be used for the purchase of a used electric car, van, motorcycle or moped by businesses that currently actively operate in Scotland. The business must have been trading or operational for at least 12 months. The purchased vehicle must be included on our list of eligible makes and models.
- Scottish Motor Trade Association
- National Franchised Dealers Association
- Independent Garage Association/Trust My Garage
- National Motorcycle Dealers Association
- Motorcycle Industry Association
- Retail Motor Industry Federation
Private sales, or vehicles bought from any other source, are not eligible.
View the full list of eligibility criteria.
Please note that in order to be eligible for this loan, your business must be operational for a minimum of 12 months.
With the exception of an initial deposit, applicants must not have made any other payment towards or taken ownership of the vehicle before receiving a loan offer.
To learn more about the purchasing process, view our guide to buying a second-hand electric vehicle.
In order to apply for a loan please complete our online business transport form.
Terms and conditions apply and if you are successful with your application you must keep up with loan repayments. Failure to do so will result in additional steps being taken to recover funds. Full details will be supplied in your loan agreement.
Energy Saving Trust is authorised and regulated by the Financial Conduct Authority. This loan is subject to availability and terms and conditions apply.