14.9.2020Scotland ULEV loan extended to used EVs
The Scottish Government has announced that it is extending its Low Carbon Transport Loan to cover used electric vehicles for the first time.
In a move to help those into electric vehicles that are put off by or unable to afford the purchase price, used EV buyers in Scotland will now be able to get a loan of up to £20,000, interest free, over five years to cover costs.
To date, more than £85 million has been provided to help people switch to plug-in vehicles. Customers and businesses have taken up the offer switching away from petrol and diesel models, for lower running costs and an contributions to improvements in air quality.
Cabinet Secretary for Transport, Infrastructure and Connectivity Michael Matheson (pictured) 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."
With an ever increasing used electric vehicle market, choice for buyers is pretty extensive, though demand is high.
The new measures will become available from 28th September for those living in Scotland and meeting other criteria.