Low Carbon Transport Loan in Scotland to now include used EVs
The Scottish Government Low Carbon Transport Loan, which helps people make the switch to ultra-low emission and electric vehicles, will be extended to cover used electric vehicles for the first time.
Delivered through Energy Saving Trust, the extension will now enable an individual or business to obtain a loan of up to £20,000, interest free, over five years.
Cabinet Secretary for Transport, Infrastructure and Connectivity Michael Matheson said: “Expanding our Low Carbon Transport Loan will make it easier for more people to access the benefits of modern ultra-low emission vehicles. The global shift towards 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.
“We’ve set a bold ambition to phase out the need for new petrol and diesel cars and vans by 2032. Globally, it’s clear that the shift to electric vehicles is becoming an inevitability – but 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. This is where we can help.
“For Scotland’s Climate Week, consider the benefits of an electric vehicle – but remember, you don’t always need to own a vehicle to enjoy those benefits. Across the country, we’ve funded registered social landlords to procure the services of electric vehicle car clubs, so that they can provide affordable access whilst reducing the need for car ownership. For those who prefer two wheels – support is also available through Energy Saving Trust for e-bikes including e-cargo bikes.”
Ellie Grebenik, Senior Programme Manager at Energy Saving Trust said: “The extension to the Low Carbon Transport Loan is welcome news and will enable businesses and consumers alike to secure greater access to sustainable travel options. We also hope that this extension will further stimulate the electric vehicle market in Scotland, and encourage more drivers to make the switch to greener travel with the uptake of more electric vehicles.”