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Scotland can’t wait for its citizens to move on to electric vehicles that it now offers interest-free loans for used electric vehicles.
For some time now, the country has offered drivers interest-free loans of up to £ 35,000 ($ 45,370) to cover the cost of purchasing a new electric vehicle, and up to £ 10,000 (12,915 $) to cover the cost of purchasing a new electric moped motorcycle. The interest-free loan can be repaid in six years.
Read also: Kia teases seven dedicated electric vehicles it will launch by 2027
Scotland has now revealed that it will offer residents a loan of up to £ 20,000 ($ 25,830) interest-free over a five-year period to cover the costs of a electric vehicle.
‘The global shift to electric vehicles means prices are dropping year on year, but the price of new vehicles remains high for many,’ said the Scottish Cabinet Secretary for Transport, Infrastructure and Connectivity , Michael Matheson, in a statement. “We want to make change easier for people by providing interest-free financing options for used vehicles. No one who needs a vehicle should be left behind in the benefits that these modern vehicles can bring, both in terms of operating costs and environmental benefits.
Next green car reports that the Scottish government has spent more than £ 85million ($ 109million) to encourage its citizens to switch to plug-in vehicles. Many individuals and businesses have made the most of interest-free loans to take advantage of the lower running costs of electric vehicles.
Scotland wants to phase out the need for new petrol and diesel cars by 2032, although it does not have the power to ban them as it is something Great Britain must do.
