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Electric Vehicle Loan

Looking to purchase an EV for your business? Call our business transport advice line on freephone 08000 931 669.

Thinking about purchasing an electric car or van?  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 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. 

The purchased electric vehicle, motorcycle or scooter should be the only plug-in vehicle owned by the applicant and must be eligible for the 'Plug-in grant' funded by the Office for Low Emission Vehicles (OLEV). This means that cars with a purchase value above £50,000 and plug in hybrid models are not eligible for the loan.  A full list of eligible models can be found here.

Funding does not cover second hand vehicles, with the exception of ex-demonstrator models that are less than 12 months old and have less than 6,000 miles on the odometer.

Apart from 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.

For more information about electric cars, to request an application form or to learn more about the full terms and conditions please call your local Home Energy Scotland advice centre free on 0808 808 2282.

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.

 

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