In line with the UK’s low carbon initiative, there are two taxi loans available for drivers and operators in Scotland who wish to switch to a lower-emissions vehicle, including that of the Low Carbon Hackney Cab Loan which helps black cab drivers to switch to a Euro 6 Engine and the Switched on Taxis Loan offering financial aid in purchasing an electric hackney or standard taxi. This month provides the last chance to apply for the Low Carbon Hackney Cab Loan however. Read on to find out more about the support available in Scotland and how to apply.
Low Carbon Hackney Cab Loan
If you’re a hackney driver in Scotland with a cab older than 8 years you can apply for an interest-free loan of up to £120,000 from the Energy Savings Trust. This loan is designed to support help drivers and taxi operators who need to replace older hackneys with newer, lower-emission standard Euro 6 engines. This loan is coming to an end however – applications will no longer be accepted after Friday 27th November. Following on from this date, the Switched On Taxis Loan will be available as an alternative. This type of taxi loan is outlined below and the key difference is that it will only be eligible for applications against electric or ultra-low emissions vehicles. To find out more about the Low Carbon Hackney Cab Loan or to make an application, please visit https://energysavingtrust.org.uk/grants-and-loans/low-carbon-hackney-cab-loan/.
At Cab Direct we have two great black cabs for sale and both vehicles qualify as they are fitted with the latest Euro 6 engine. Our Mercedes Benz Vito Taxi is a 2.1L with a comfortable eLeather driver’s seat and a spacious passenger cabin and comes fitted with a partition screen, taxi sign and wheelchair ramp. Selected models are currently available for the lower price of £37,995! We also offer the Ford ProCab™ which is a full spec hackney taxi, available from £35,995 OTR.
Switched on Taxis Loan
The Switched on Taxis Loan provides up to £28k per vehicle for taxi drivers and operators toward any new electric hackney or private hire vehicle. Taxi organisations can apply for up to a maximum of £120,000 with a interest-free repayment period of six years.
The loan is redeemable against a number of vehicles, the full list of which can be found here. Ex-demo models will also be considered if they are less than 12 months old and have covered a maximum of 6,000 miles. To apply you must have been trading for a minimum of 12 months, and only the standard specification is covered by the loan – any extra specs, delivery charges or registration fees must be covered separately. A decision on any loan submitted is expected within three weeks, with the full application process taking between six and eight weeks in total.
We have a range of electric taxis available that qualify for this funding. To find out more about each of the vehicles on offer, please click on the links below.
- Kia e-Niro – from £28,695 OTR
- Nissan Leaf – from £23,395 OTR
- Hyundai IONIQ – from £21,295 OTR
- Nissan eNV200 Combi – from £28,295 OTR
Charge Point Funding
Once you’ve selected the best model for you and applied for your loan you can also apply for further funding through Energy Savings Trust such as a payment of up to £300 for a home charging point. You must simply use an approved installer. An additional £350 is also available from OLEV.
For more information on any of our hackney cabs or electric taxis please call the number at the top of the page or enquire online.