Used Electric Vehicle Loan

The used electric vehicle (EV) market has been growing and is a great place to start if you’re looking to save money and reduce your carbon emissions.

If you’re considering a used electric vehicle and you live in Scotland, an exciting funding opportunity is available through Energy Saving Trust. We offer an interest-free loan for individuals, repayable over five years.

The Used Electric Vehicle Loan is funded by Transport Scotland and can help you purchase used vehicles with set maximum loan amounts:

• electric moped costing £5,000 or less are eligible for £5,000
• electric motorcycle costing £5,000 or less are eligible for £5,000
• electric car costing £30,000 or less are eligible for £30,000
• electric van costing £30,000 or less are eligible for £30,000
• hydrogen vehicle requests reviewed on case-by-case basis

Our cost caps include VAT.

Whichever used vehicle you choose to purchase with the loan, it must be purchased from an acceptable dealership. The dealership must be either:

• 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.

Here are a few associations that are acceptable:

• National Franchised Dealers Association
• Independent Garage Association/Trust My Garage
• Scottish Motor Trade Association
• National Motorcycle Dealers Association
• Motorcycle Industry Association
• Retail Motor Industry Federation
• 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.

If you would like to register your interest in the used EV loan should funding reopen next year, simply add your details to the form below.

Used EV Loan Register of Interest Form

It’s important that you read the loan eligibility criteria. This document gives full details of what the loan can cover and who is eligible to apply. Please note that our eligibility is subject to change year-on-year.

You’ll need the following information when you apply:  

• your address history – we’ll need at least six years of address history  
• your income information – we’ll need to ensure you can afford repayments  
• your confirmation that you won’t purchase the used vehicle before receiving a loan offer. If you do, we won’t be able to accept your application. 

Here is a quick outline of your application journey:

• You submit your application
• We aim to provide you with a response within 10 working days. This could be a request for further information, which can delay your next steps
• You have a loan offer and accept this within 14 days
• You submit all claim documents. Any missing information will be queried, which can delay you receiving payment
• We aim to process your claim documents, within 15 working days
• You’ll receive your funding within 3-5 working days