A standing loan for replacing a vehicle is given only after repayment of the previous standing loan, and only to a person with limited mobility who fulfills the conditions of the undertaking that he signed when receiving the first standing loan.
A standing loan to replace a vehicle is given only to a person with limited mobility who has a driver's license if at least 42 months have elapsed since the date on which he received the previous standing loan.
A person with limited mobility who does not have a driver's license is given a standing loan to replace a vehicle only if at least 48 months have elapsed since the date on which he received the previous standing loan.
A person with limited mobility who received a loan to purchase special accessories is given a standing loan to replace a vehicle only if 60 months have elapsed since the date on which he received the previous standing loan.
Two people with limited mobility who own a shared vehicle are given a standing loan to replace a vehicle only if 48 months have elapsed since the date on which they received the previous standing loan, and only if one of them drives and both are entitled, either together or separately, to a private vehicle.
The NII is entitled to give a standing loan to replace a vehicle even if 42, 48 or 60 months (as specified above) have not elapsed, should one of the following events occur:
- The vehicle was stolen or destroyed, and there is no possibility of selling it or transferring it to the use of others - as determined by the insurance company that insures the vehicle.
- The vehicle was damaged in an accident and a qualified assessor determined that it would be impossible to repair the vehicle so that it can continue to serve the person with limited mobility.
- The medical condition of the person with limited mobility worsened after he purchased the vehicle. For that reason driving restrictions were established for him which do not enable him to continue to use the vehicle in his possession.
- The standing loan was repaid at the request of the NII due to hospitalization, incarceration or departure abroad and at least six months have elapsed from the date of the loan repayment.
Please note! Car prices for purpose of determining loans and installments are based on the "Levi Itzchak" price list.