Interest-free loans of up to £75,000 are available to help owners and operators of hackney cabs (purpose-built taxis) or private hire taxis to replace their current vehicle with an eligible ultra low emission vehicle.

You can apply for loans to purchase multiple vehicles up to the maximum loan amount of £75,000. If the total cost of your chosen vehicles is more than the maximum amount, you will have to pay the remaining amount yourself. 

Hackney (purpose-built taxi) drivers only

The maximum loan amount you can receive is £75,000.

The loan can help cover the cost of purchasing an eligible vehicle that's listed in the taxi category of the UK OZEV plug-in grant list, external link which will open in a new window.

Your loan will be capped at a maximum of £50,000 per vehicle for used vehicles. There is no cap for new vehicles, but if the vehicle or vehicles you purchase cost more than the maximum loan amount, you'll need to cover the additional cost yourself. 

Private hire drivers only

The maximum loan you can receive is £30,000 to purchase one electric car, or £35,000 for one electric van. To be eligible, new vehicles must cost £50,000 or less and used vehicles must cost £30,000 or less.

To be eligible, applicants must meet the following criteria:

Hackney (purpose-built taxi) drivers only

The vehicle must be eligible for the Office for Zero Emission Vehicles (OZEV)’s plug-in grant. See full details of eligible vehicles on the GOV.UK site, external link which will open in a new windowopens in a new window.

You must have owned your current vehicle for at least 6 months before you apply to replace it.

Private hire taxi drivers only

The vehicle purchased with the loan must cost less than £50,000 if it's a new vehicle, or £30,000 if it's a used vehicle. 

There are no application fees and the loans are interest-free.

You can apply for loans to purchase multiple vehicles up to the maximum loan amount of £75,000. If the total cost of your chosen vehicles is more than the maximum amount, you will have to pay the remaining amount yourself. 

Owners and operators of hackney cabs or private hire taxis looking to replace their current vehicle with an ultra low emission vehicle.

Energy Saving Trust aims to process complete applications within 10 working days. They can't guarantee you'll get a decision before this.

If information is missing from your application, it will take longer to process.

The claim process will take a further 10 working days. You should then allow another 3 to 5 working days for payment if your application is successful

You’ll need the following information and documents when you apply:

• your V5 registration certificate – all pages are required
• your most recent tax documents (SA103 or SA100, SA800), if you’re applying as a sole trader or partnership
• a bank statement dated within the last 3 months
• quote(s) for the vehicle(s) you plan to purchase with the loan
• your confirmation that you won’t purchase the vehicle(s) before you receive a loan offer – if you do, Energy Saving Trust won't be able to accept your application

Visit the Energy Saving Trust's website for more information and to apply for funding.