Scotland offers up to £50,000 interest free loans for electric vehicles

Transport Scotland announced earlier this month a new program to offer interest free loans of up to £50,000 for electric vehicles. The number of loans will be limited since the program is financed by a £2.5 million fund. The fund will close on 31 March 2016, applicants have until then to submit their loan requests.

Scottish motorists still have access to the existing UK Government Plug-In Grant of up to £5,000 for a new electric car and £8,000 for a van. Combining the 2 incentives should make electric vehicles a financially attractive value proposition. We should soon get to see more EVs on Scotland’s famously scenic roads (see picture above – Applecross Road by Jonathan Andrew).

For more information on how to apply for the loan, please visit the government’s website.