1. A person who repays a standing loan and receives a new standing loan.
The amount of the depreciation for the period of usage of the vehicle is deducted from the repayment amount for a person who receives a new standing loan, as well as additional depreciation which changes from time to time. The goal of the calculation is to reduce the amount of the repayment, thereby facilitating the purchase of a new vehicle.
In order to repay the standing loan, you must obtain a certification of entitlement from the National Insurance Institute to receive a new standing loan with which the previous standing loan will also be repaid in the Customs Division.
When an entitlement to a new standing loan arises before the date prescribed by the Mobility Agreement (Replacement ahead of time), under certain circumstances (such as theft or damage of the vehicle, or worsening of medical condition which does not allow usage of the previous vehicle), the previous standing loan must be repaid.
The calculation of the amount of the reimbursement is made by a NII's officer from the mobility sector, who takes into account, among other elements, the reimbursement rates for those entitled to a new standing loan before the date prescribed by the Mobility Agreement.
2. A person who repays a standing loan and does not receive a new standing loan.
In cases in which the standing loan must be repaid and there is no entitlement to a new standing loan, the repayment amount of the standing loan is calculated according to the rate of the standing loan out of the price of the vehicle at the time of purchase, multiplied by the price of the vehicle on the "date of record" (the date on which one of the events requiring repayment of the standing loan occurred, the date on which the vehicle was sold).
A person with limited mobility who died, the "date of record" for calculating repayment of the loan that he received is the date on which 12 months have elapsed since his death, or the date on which the family submitted a request for repayment of the standing loan to the NII - whichever of the two is earlier.
In cases in which the NII requires repayment of the standing loan and the debt is not repaid within two months of the date of record, it will be subject to an annual interest of 6.75% (as of Oct 01, 2023), this percentage being updated from time to time.
In order to repay the standing loan, whether it is repaid at the initiative of the person with limited mobility or at the request of the National Insurance Institute, authorization to repay the loan must be obtained from the National Insurance Institute. Payment should be made at a bank and certification of payment provided to the NII.