  This is the second part of our error analysis of the stabilized
Lagrange-Galerkin scheme applied to the Oseen-type Peterlin viscoelastic model.
Our scheme is a combination of the method of characteristics and
Brezzi-Pitk\"aranta's stabilization method for the conforming linear elements,
which leads to an efficient computation with a small number of degrees of
freedom especially in three space dimensions. In this paper, Part II, we apply
a semi-implicit time discretization which yields the linear scheme. We
concentrate on the diffusive viscoelastic model, i.e. in the constitutive
equation for time evolution of the conformation tensor a diffusive effect is
included. Under mild stability conditions we obtain error estimates with the
optimal convergence order for the velocity, pressure and conformation tensor in
two and three space dimensions. The theoretical convergence orders are
confirmed by numerical experiments.
