Vote labour, get free loan for an EV
Discussion
https://labour.org.uk/press/john-mcdonnell-announc...
Speaking on the Today programme, Shadow Chancellor John McDonnell announced that Labour will introduce 2.5 million interest free loans for the purchase of electric cars.
The loans of up to £33,000 will allow low to income households, those living in rural areas and independent contractors and SMEs middle to save on new electric cars. The government will cover the £1,500 cost of interest on a loan, with individuals saving up to £5,000 over time.
Similar to the scheme already in operation in Scotland
http://www.greenerscotland.org/greener-travel/gree...
Although an EV offers the owner significantly lower running costs there is a slightly higher initial cost for these cars. Therefore, to support drivers switching to an EV or hybrid, the Scottish Government is offering interest free loans to help with the financing. The loan works as follows:
Loans of up to £35,000 to cover the cost of purchasing a new pure electric / plug-in hybrid vehicle.
Loans of up to £10,000 to cover the cost of purchasing a new electric motorcycle or scooter.
Repaid over a period of up to six years.
Speaking on the Today programme, Shadow Chancellor John McDonnell announced that Labour will introduce 2.5 million interest free loans for the purchase of electric cars.
The loans of up to £33,000 will allow low to income households, those living in rural areas and independent contractors and SMEs middle to save on new electric cars. The government will cover the £1,500 cost of interest on a loan, with individuals saving up to £5,000 over time.
Similar to the scheme already in operation in Scotland
http://www.greenerscotland.org/greener-travel/gree...
Although an EV offers the owner significantly lower running costs there is a slightly higher initial cost for these cars. Therefore, to support drivers switching to an EV or hybrid, the Scottish Government is offering interest free loans to help with the financing. The loan works as follows:
Loans of up to £35,000 to cover the cost of purchasing a new pure electric / plug-in hybrid vehicle.
Loans of up to £10,000 to cover the cost of purchasing a new electric motorcycle or scooter.
Repaid over a period of up to six years.
granada203028 said:
A relatively hollow gesture given how low interest rates are. In a way brings the grant back up to £5K.
Nissan dealer today told me a 62kWh Leaf is only a 4 month waiting list now, so hopefully supply is catching up with demand and this will bring prices down.
I think demand for cars in general is declining across the world. Lots of manufacturers are scaling back production volumes ready for the worldwide recession arriving in the not too distant future. Nissan dealer today told me a 62kWh Leaf is only a 4 month waiting list now, so hopefully supply is catching up with demand and this will bring prices down.
I presume this is a policy they've come up with which if they get into power they'll put to a pubic vote and then lobby against?
Surely the best approach is to plough sensible money and legislation into infrastructure, tackling the wayleve issue preventing power supplies being installed, insist on all charge points taking credit cars, getting ecotricity to shape up or ship out. getting the Welsh to actually install a charge point or 3, address the school run an get kids walking to school which also helps reverse obesity. and boost public transport so we don't need to drive very far in the first place.
Surely the best approach is to plough sensible money and legislation into infrastructure, tackling the wayleve issue preventing power supplies being installed, insist on all charge points taking credit cars, getting ecotricity to shape up or ship out. getting the Welsh to actually install a charge point or 3, address the school run an get kids walking to school which also helps reverse obesity. and boost public transport so we don't need to drive very far in the first place.
JPJPJP said:
https://labour.org.uk/press/john-mcdonnell-announc...
Speaking on the Today programme, Shadow Chancellor John McDonnell announced that Labour will introduce 2.5 million interest free loans for the purchase of electric cars.
The loans of up to £33,000 will allow low to income households, those living in rural areas and independent contractors and SMEs middle to save on new electric cars. The government will cover the £1,500 cost of interest on a loan, with individuals saving up to £5,000 over time.
Similar to the scheme already in operation in Scotland
http://www.greenerscotland.org/greener-travel/gree...
Although an EV offers the owner significantly lower running costs there is a slightly higher initial cost for these cars. Therefore, to support drivers switching to an EV or hybrid, the Scottish Government is offering interest free loans to help with the financing. The loan works as follows:
Loans of up to £35,000 to cover the cost of purchasing a new pure electric / plug-in hybrid vehicle.
Loans of up to £10,000 to cover the cost of purchasing a new electric motorcycle or scooter.
Repaid over a period of up to six years.
I'd love to know how a low income household can afford to pay back £33k over six years. Most of them can barely afford to make ends meet let alone splurge £30k+ on a car. Nuts.Speaking on the Today programme, Shadow Chancellor John McDonnell announced that Labour will introduce 2.5 million interest free loans for the purchase of electric cars.
The loans of up to £33,000 will allow low to income households, those living in rural areas and independent contractors and SMEs middle to save on new electric cars. The government will cover the £1,500 cost of interest on a loan, with individuals saving up to £5,000 over time.
Similar to the scheme already in operation in Scotland
http://www.greenerscotland.org/greener-travel/gree...
Although an EV offers the owner significantly lower running costs there is a slightly higher initial cost for these cars. Therefore, to support drivers switching to an EV or hybrid, the Scottish Government is offering interest free loans to help with the financing. The loan works as follows:
Loans of up to £35,000 to cover the cost of purchasing a new pure electric / plug-in hybrid vehicle.
Loans of up to £10,000 to cover the cost of purchasing a new electric motorcycle or scooter.
Repaid over a period of up to six years.
What a great idea. Taxpayer subsidised loans to wealthier people so that they can save money on fuel whilst the poorest of people won't be able to afford those loans in the first place and have to pay for ever-increasing fuel costs in their own ageing cars.
The absolute insanity of someone on minimum wage paying the borrowing cost for someone on £100k to drive a brand new EV is beyond parody.
The absolute insanity of someone on minimum wage paying the borrowing cost for someone on £100k to drive a brand new EV is beyond parody.
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