GB News guests debate using electric cars in 2022
Experts have called on Rishi Sunak to consider introducing “used car loans” on fully-electric vehicles to help make the new technology “more affordable”.
Electrifying.com has urged the Government to offer more incentives to motorists as time ticks down to the 2030 petrol and diesel car ban.
It comes after new data from the Society of Motor Manufacturers and Traders (SMMT) showed there was increasing demand in electric models.
The statistics show electrified cars accounted for more than a third of the UK car market.
Battery electric vehicle deliveries recorded a staggering 87.9 percent rise with an EV now sold every 60 seconds.
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However, most of these registrations were among fleets and businesses where there are still plenty of incentives to switch.
Ginny Buckley, founder and CEO of Electrifying.com, feels Sunak needs to offer more to wow motorists struggling in a cost-of-living crisis.
She explained: “This continues to prove that a lack of financial incentives and confidence in our public charging infrastructure are doing little to help private buyers on their electric journey.
“Now more than ever, we need to be encouraging people to make the switch. This can be done not only by improving our public infrastructure, but also by introducing incentives, particularly for used electric cars.
“The used market will be key to us hitting our net zero targets in the coming years, which is why I would like to see the introduction of a subsidised used car loan to help consumers go electric.
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“Similar to the one already in place in Scotland, this will help to stimulate demand and even make finance on new cars more affordable by improving residual values.”
Scottish motorists can already benefit from an interest-free electric car payment to help with the transition to EVs.
The scheme is funded by the Scottish Government and offers drivers a fee of up to £30,000 to cover the costs of a second-hand model.
Up to £5,000 can also be obtained to secure a used electric motorcycle or moped.
A further £300 grant is also available to Scots which can be put towards a home charging unit.
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The loan has a repayment term of five years but this helps spread the charge for motorists thinking about moving over.
The cash is only open to individuals whose principal residence is in Scotland while applicants must not own any other electric vehicle.
Similar schemes are available in England from private companies but will be slapped with high interest rates.
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