Loans For Disabled Ex-Servicemen To Buy Cars
Ex-servicemen with a serious pensionable locomotive disability will be assisted to buy a car with special interest-free non-repayable loans. Assistance will also be given, where it is needed, to fit extra mechanical controls in the cars so purchased. Details of the schem6 have been given by the Minister of Rehabilitation, the Hon. C. F. Skinner.
The amount of loan available towards the purchase of a car will be £2OO. It will be a secured inter-est-free loan, repayable only if the car is sold or otherwise,disposed of within two years of the loan being made. At* the end of two years, if the ex-serviceman still owns the car, the loan wjill be converted into a free grant.
These special loans will be available to ex-servicemen who have
permanent locomotive disabilities assessed for pensions purposes at a minimum of 85 per cent of total disability, irrespective of the total war pension they may receive. Provisions Of Loan
The loans can be used either to purchase a new or second-hand car or to cover any one car purchased since disablement and still owned by. an eligible applicant. In all cases an eligible ex-serviceman would be entitled to only one grant for this type of assistance.
Ex-servicemen who are entitled to the special loan and who have previously had. a rehabilitation business loan to purchase a car will be able to convert their business loan into the new special advance, to the extent of £2OO. It is not intended that the new provision should preclude additional assistance being given;
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https://paperspast.natlib.govt.nz/newspapers/BPB19481220.2.16
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Bay of Plenty Beacon, Volume 13, Issue 35, 20 December 1948, Page 5
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262Loans For Disabled Ex-Servicemen To Buy Cars Bay of Plenty Beacon, Volume 13, Issue 35, 20 December 1948, Page 5
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