Used EV Loan scheme for both domestic and business: FOI release

Information requested

Information on the used EV Loan scheme for both domestic and business which has just ended, in a follow up email you clarified this was for financial year 2023/2024.

1. Number of loans approved and the total value of these loans.

2. Number of claims made once the loan has been approved.

3. Number of claims processed within the 3-5 day timescale including funding released no later than 3 days from the claim being approved. the number of claims processed out with the 15 day timescale.

4. Average time taken to process claims.

5. Number of claims made then cancelled as the vehicles being purchased is no longer available from the garage.

6. Number of complaints received about the loan and the claim process.

Response

I enclose a copy of the information you requested, where Energy Saving Trust or Transport Scotland hold this information.

The answer to your question is:

1. Number of loans approved and the total value of these loans.

The used Low Carbon Transport Loan (LCTL) includes a number of individual loans streams which I have listed separately below, the information is up to and including the 24 January 2024:

Low Carbon Business Loan - 39 applications. Value of loans offered - £1,363,902.
Switched on Taxi loan - 68 applications. Value of loans offered - £3,490,506.
Used EV Business Loan - 86 applications. Value of loans offered - £2,256,095.
Used EV Loan - 1,433 applications. Value of loans offered - £31,474,449.

Total business - 193. Total value of loans offered - £7,110,503. Individual - 1,433. Total value of loans offered - £31,474,449.

2. Number of claims made once the loan has been approved.

The figures below relate to claims that have been paid after identity verification checks and completed documentation has been submitted to and approved by EST, this information is up to and including the 24 January 2024, it should be noted that claims can be submitted and paid up to the end of this FY:

Low Carbon Transport Business Loan – 27 claims.
Switched on Taxi Loan (Business) – 47 claims.
Used EV Business Loan (Business) – 59 claims.
Used EV Loan (Individual) – 915 claims
Total: Business – 133 claims, Individuals – 915 claims.

3. Number of claims processed within the 3-5 day timescale including funding released no later than 3 days from the claim being approved. the number of claims processed out with the 15 day timescale. 100% of claims (1,048 as of 24 January 24) have been paid within the 3/5 working day guideline of payments being made.

Of the 1,111 claims that have been paid this FY 2023/2024 (as of 6 February 24) this FY, 81% (890) of these have been processed out with the 15 working day time frame, this is based on the date the applicant submits the claim form and documentation. Incorrect/missing documentation and failed identity verification checks by the applicant will impact these timescales and these cases will require EST to have further contact with individuals, businesses and dealerships to resolve any issues.

4.  Average time taken to process claims.

The average time to process a claim in FY 2023/2024 to date is 22 working days, the time to process an application is dependent on applicants submitted the correct documentation and following the correct process for identity verification.

5. Number of claims made then cancelled as the vehicles being purchased is no longer available from the garage.

Neither Energy Saving Trust or Transport Scotland hold this information.

6. Number of complaints received about the loan and the claim process.

13.

While our aim is to provide information whenever possible, in this instance the Scottish Government does not have some of the information you have requested. The reason why we don't hold have this information is that Energy Saving Trust/Transport Scotland do not gather data on vehicle availability at vehicle dealerships. Dealerships require a deposit to secure a vehicle and under the terms of the loan this is acceptable to secure your chosen vehicle until the loan is processed and full payment can be made and vehicle collected.

About FOI

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