The used electric vehicle loan is now closed to new applications. If you're interested in being contacted if the loan reopens next year, you can register your interest on Energy Saving Trust’s website.
Electric vehicles are an increasingly attractive option for drivers thanks to their lower running costs, environmental benefits, and ever-improving range of models. Pure electric vehicles eligible for the loan have an average range of over 150 miles, with many models able to go much further on a single charge. Plus, charging has never been easier; with over 1,500 publicly available chargers in Scotland.
Used electric vehicles
More electric cars and vans become available on the used car market each year, as electric vehicles become more popular. With the Used Electric Vehicle Loan, you can borrow up to £30,000 to cover the cost of purchasing a used electric car or van, or up to £5,000 for the purchase of a used electric motorcycle or moped.
Interested in learning more or ready to apply? Visit Energy Saving Trust for details.
To help you get around in your electric vehicle, a grant of up to £400 is available towards the cost of a home chargepoint from Energy Saving Trust. This is in addition to the £350 available through the Office for Zero Emission Vehicles (OZEV).
With a home chargepoint, you can charge overnight in your driveway, when electricity is cheapest, for further cost savings.
To learn more about this scheme, click here.
Things to note - Used Electric Vehicle Loan:
- The Used Electric Vehicle Loan is interest-free with a maximum repayment period of five years
- The loan is open to individuals whose principal residence is Scotland
- Applicants must hold a valid driving license and not currently own a pure electric vehicle
- The loan can support the purchase of a used electric car or van with a list price of £30,000 or less, or a used electric motorcycle or moped costing £5,000 or less
- Used electric vehicles must be purchased from a dealership. The dealerships that are acceptable include:
- A traditional brick and mortar dealership based in the UK where their sales are conducted in-person, as well as through their online platforms. This dealership must be accredited by the Motor Ombudsman or be part of a trade association signed up to the National Conciliation Service.
- A dealership operating solely online. This dealership must have an up-to-date online presence, own the vehicles for sale and have reputable customer support services, as well as robust warranty procedures in place. Additionally, this dealership must transparently outline, at the very least, a vehicle’s age, battery capacity, mileage and the interior and exterior condition of the vehicle(s) on any sale document(s) provided.
- Apart from making an initial deposit, you must not make any other payment towards the purchase of the vehicle before receiving a loan offer, as funding is not provided retrospectively
- Loan applications are subject to affordability assessments and credit checks
Things to note - domestic chargepoint funding:
- The domestic chargepoint grant is available to:
- Applicants who live in the most remote and rural postcodes of Scotland (category 3,4,5,6,7 and 8 of the Scottish Government’s most recent Urban Rural Classification) or the Scottish Islands and who own or lease an electric vehicle, or those who use an electric vehicle through work; or
- Applicants who have been approved for the Used Electric Vehicle Loan.
- Maximum value for the domestic chargepoint grant is £400 even if the applicant qualifies for both rural postcode and loan funding.
- A grant offer letter must be issued by Energy Saving Trust before the chargepoint installation works occur.
Energy Saving Trust is authorised and regulated by the Financial Conduct Authority. These schemes are subject to availability and terms and conditions apply.
Both schemes are funded by Transport Scotland and administered by Energy Saving Trust.