# Scottish e-bike interest free loan scheme.



## Cycleops (31 Dec 2019)

Extra funding has been made available for the Scottish e-bike interest free scheme. 
https://www.heraldscotland.com/news/18128193.extra-700-000-e-bike-loan-funding-scheme/


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## Slick (31 Dec 2019)

Great country.


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## welsh dragon (31 Dec 2019)

What a brilliant idea.


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## Smudge (31 Dec 2019)

Its definitely a great way to persuade people to buy ebikes, but i'd like to know exactly how it works.
Can you buy a bike at any retailer, including discounted ebikes, then get the loan ?
Or are you restricted to only buying from dealers that are in the scheme and having to pay full RRP ?

In schemes like this, customers often end up paying more than cash customers, similar to the scrappage schemes that were on cars.


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## snorri (31 Dec 2019)

Smudge said:


> Can you buy a bike at any retailer, including discounted ebikes, then get the loan ?
> Or are you restricted to only buying from dealers that are in the scheme and having to pay full RRP ?



It appears they do not wish to make public that information at this stage, you must 'phone for further details.

Quoting from Transport Scotland/Energy Saving Trust ....
For more information about ebikes, to request an application form, or to learn more about the full terms and conditions please call Home Energy Scotland free on *0808 808 2282*.


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## savannah3107 (31 Dec 2019)

My Mum used the EST loan scheme and I'm thinking about it.

EST use the loan application process as an opportunity to check whether other parts of their remit might be relevant for you. In particular there's a 20-30 minute phone session going over your home energy and insulation situation. Bit of a drag if all you want is the ebike loan, but they might have something else that's useful for you and, if not, it's a small price to pay for a 0% loan.

As part of the application process the shop you are buying from has to provide a quote / pro forma invoice on their headed paper for you to submit with the application. And then once they've decided to give you the loan and bought the bike you need to send them the receipt. Again a bit bureaucratic, but I guess they need to be assured we don't just tap them for a cheap loan to spend on something else.

It takes them a couple of weeks to make their decision, which would probably make it more difficult to pick up a one off bargain that might be available in the sales.

You can't do anything retrospectively like buy the bike and then apply for the loan.

Funds availability is on a first come first served basis. I expect the additional funding is because they've given out this year's funding allocation already.

The EST staff were helpful when guiding Mum through the process.

The loan is on a per household basis up to £6,000 over 4 years for up to 2 x £3,000 'ordinary' ebikes, or up to 1 x £6,000 for a cargo bike or adapted bike.


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## gaijintendo (4 Jan 2020)

savannah3107 said:


> Again a bit bureaucratic, but I guess they need to be assured we don't just tap them for a cheap loan to spend on something else.



I anticipate a few brand new ebikes popping up slightly less than rrp on Gumtree for a workaround on the interest free loan.


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## Slick (4 Jan 2020)

gaijintendo said:


> I anticipate a few brand new ebikes popping up slightly less than rrp on Gumtree for a workaround on the interest free loan.


Not the best business model I've ever heard of.


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## midlife (4 Jan 2020)

Slick said:


> Not the best business model I've ever heard of.



beats paying 35 % on a credit card ?


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## Slick (4 Jan 2020)

midlife said:


> beats paying 35 % on a credit card ?


I don't pay anything on my credit card and if I'm honest, the idea of someone jumping through hoops to resale a second hand ebike in the hope of making some cash would need to be wired to the moon.


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## midlife (4 Jan 2020)

People used the student loan scheme for low interest loans....


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## Slick (4 Jan 2020)

midlife said:


> People used the student loan scheme for low interest loans....


Selling something for less than you paid for it, isn't the same and I'm sorry but the suggestion is ridiculous.


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## gaijintendo (4 Jan 2020)

Slick said:


> Not the best business model I've ever heard of.


You might be surprised to know some people don't think in terms of business models. Some people think about all the lovely ham, or whatever they need, which they can magic up with some form filling.

I wrote out a boring example from an old job, and have deleted it to save you the tedium I felt writing it.


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## Slick (4 Jan 2020)

gaijintendo said:


> You might be surprised to know some people don't think in terms of business models. Some people think about all the lovely ham, or whatever they need, which they can magic up with some form filling.
> 
> I wrote out a boring example from an old job, and have deleted it to save you the tedium I felt writing it.


Sorry, just can't see it.


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