Updated Scotland Electric Vehicle Loan

Transport Scotland are funding an interest-free electric vehicle loan to financially support customers with purchasing a new fully electric car or van. Drivers who live in Scotland can obtain up to £28,000 to cover the cost of buying a new 100 percent electric vehicle (EV). The repayment term is up to six years.

Alternatively, Scottish individuals can take advantage of the Low Carbon Transport Loan of up to £20,000 to cover the cost of purchasing a used electric car. The maximum vehicle cost and loan available is capped at £20,000 and the repayment term is up to five years. Existing owners of electric vehicles are not eligible for the loan, neither are plug-in hybrid models.

Businesses that currently actively operate in Scotland can also benefit from the interest-free Used Electric Vehicle Loan with up to:

• £20,000 to cover the cost of purchasing a used electric car
• £20,000 to cover the cost of purchasing a used electric van or plug-in hybrid electric van.

The maximum vehicle cost and loan available is capped at £20,000 and the business must have been trading or operational for at least 12 months.

There's plenty of choice when it comes to new electric cars and vans that are eligible for the loans. Cars have CO₂ emissions of less than 50g/km and can travel at least 70 miles with zero emissions, whereas vans have CO₂ emissions of less than 75g/km and can travel at least 10 miles without any tailpipe emissions. Used cars and vans follow the same eligibility criteria as the new examples.

Here are some of the cars and vans that are eligible for the loans, please note others are available too and a complete list can be found on Transport Scotland's website.