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| Loan from the loan fund for the purchaser of a new vehicle |
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a. For those entitled to a vehicle for special accessories The National Insurance Institute is entitled to provide a person with limited mobility who is entitled to purchase a vehicle for special accessories with a loan from the loan fund for purchasing vehicles, in addition to the standing loan for financing the taxes. Both those with drivers' licenses and those without drivers' licenses are eligible
b. For those entitled to a private vehicle The National Insurance Institute is entitled to provide a person with limited mobility, who is entitled to a private vehicle and who has severe disabilities and low income from employment, with a loan from the loan fund for purchasing a vehicle, in addition to the standing loan to finance the taxes. Only those with a drivers' license are eligible.
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| Conditions of entitlement | |
1. For those entitled to assistance with the purchase of a vehicle for special accessories. 2. For those entitled to assistance with the purchase of a private vehicle. |
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| Rate of the loan | |
For the purchaser of a vehicle for special accessories:
For a first vehicle - 80% of the value of the purchased vehicle or the determining vehicle without taxes, the lower of the two. For exchanging a vehicle - the full difference between the vehicle that was sold and the vehicle that was purchased or the determining vehicle - without taxes, the lower of the two, and not more than 80% of the value of the new vehicle. If the person with limited mobility is obligated to repay a standing loan, the amount he repays will be refunded to him. The loan is granted with each replacement and becomes a grant five years after the date it was given.
For the purchaser of a private vehicle:
The loan is granted only once. 20% of the loan amount is repaid to the NII within five years, at interest that is publicized from time to time, and the remainder becomes a grant. |
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| Vehicle lien | |
A person who is entitled to a loan from the loan fund to purchase a vehicle will be required to encumber the vehicle in favor of the National Insurance Institute. The vehicle lien is implemented by the NII, which also finances the payment for the encumbrance fee. |
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| Tip regarding loans from the loan fund for purchasing a new vehicle | |
A person with limited mobility who is entitled to purchase a vehicle for special accessories and chooses to purchase a private vehicle can obtain the loan from the loan fund only if he informs the NII before the purchase. |
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