ICO Vive Autobuses 2010
Beneficiaries:
Self-employed, SMEs and other public passenger transport companies using buses or coaches which are up to day with their tax and Social Security payments.
Investments eligible:
The acquisition of a new bus or coach, category M2 or M3, which meet the following conditions:
- The client has de-registered another used vehicle of the same category which is over 10 years old.
- The new coach or bus must be certified in accordance with the regulations on emissions and as a hybrid bus or powered by hydrogen, natural has or electricity or which uses 100% biofuels.
- If the vehicle has been acquired prior to signing the finance contract, it must be a maximum of one month old.
Repayment period:
- 5 years without grace period
- 5 years including one year’s grace period
Interest rate:
- ICO funds at 0%;
- BS funds, Fixed rate at the fortnightly quote announced by ICO + 2.50%
Maximum amount:
Up to 100% of the sale price of the vehicle will be financed, including the VAT/IGIC, except in the case of a Lease arrangement in which the VAT/IGIC will not be financed.
- Category M2: In general up to 70,000 euros (77,000 euros in the case of vehicles adapted for disabled persons) funded by the ICO and the rest by the financial institution.
- Category M3: In general up to 130,000 euros (143,000 euros in the case of vehicles adapted for disabled persons) funded by the ICO and the rest by the financial institution.
Fees:
No fees.
Early repayment:
Voluntary early payment attracts no penalty.
Compatibility and incompatibility of the aid:
This aid is governed by the provisions of the transitional National Framework for the granting of aid approved on 20 May 2009 by the Delegate Commission of the Government for economic affairs and authorised by the European Commission on 8 June 2009.
This Facility will be in effect until 31 December 2010 or before if the funds are exhausted.