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Assisted_Car_Purchase_Scheme

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					                    Adults and Children Services

          Assisted Car Purchase Scheme for School Staff

Who can have a loan?
   Permanent and temporary employees (providing the term of the
    loan does not exceed the term of the temporary contract) –
    teaching staff, Soulbury and Local Government staff (NJC) are
    eligible providing their total annual earnings are greater than
    £4,313 per year. Employees serving a probationary period are not
    eligible for assisted purchase.
   Applicants must possess a current valid driving licence.

How do I apply?
   Staff Travel (Pension Services and Staff Travel) have copies of the
    full Notes of Guidance which incorporate the application form –
    please read these notes carefully before making an application.
   You should not commit yourself to the purchase of a car until the
    loan is approved. Loans cannot be granted if you have already
    bought a car.

How much can I borrow?
   The amount you will be entitled to depends on your salary. A
    separate sheet giving these details is held within Staff Travel
    (Pension Services and Staff Travel) – you can assume around 40%
    of your annual salary will be available, subject to the current
    maximum.
   The loan will not exceed the purchase price of the car you are
    buying less the value of the existing car. An adjustment will be
    made for any existing loan outstanding on your present car.
   You must finance the purchase from your own resources and the
    County Council loan – you should not borrow any part of the
    purchase cost from any other source.

How do I repay the loan?
   Maximum period for repayment is normally 4 years – less for older
    cars and up to 5 years for a first purchase.
   Repayments of the loan plus interest will be deducted from your
    pay.

Are there any other charges?
   An administrative charge of 1% of the loan advanced is deducted
     from the BACS transfer into the applicant’s bank account.
Are there any rules about the car I want to buy?
   For cars over 6 months old an independent engineer’s report will be
     required when making the application. This should cover the car’s
     condition, value and expected life. Vehicles should not be more than
     10 years old by the end of the loan period.
   You should ask the vendor if all loans have been repaid on the
     vehicle before agreeing to purchase the car.
   If you are an authorised car user the vehicle should be suitable for
     carrying out your duties.

What other points should I bear in mind?
   Insurance – we will require you to insure the car comprehensively
    and register it in your own name not in that of your spouse and
    partner.
   The staff Travel Section of Pension Services and Staff Travel will
    want to see your insurance certificate, invoice for purchase/sale and
    vehicle registration document once you have acquired the car. You
    will not be entitled to renew a loan within 2 years in most cases.
   If you leave the County Council you must repay the loan unless
    your new employer is prepared to take it over.
   If you wish to sell the car you must repay the outstanding balance
    on the loan.
   If your car is seriously damaged or “written off” in an accident it will
    be necessary to consult the Staff Travel Section of Pensions
    Services and Staff Travel immediately.

What happens when I have made my application?
   The Head of Service or his/her Deputy needs to support your
     application. This means the Director for Children and Young
     People’s Services or their Deputy and not a Headteacher. In the
     first instance you should complete and sign the application and
     send it to the Staff Travel Section, Pension Services and Staff
     Travel. They will arrange for it to be checked and forwarded to the
     Head of Service for authorisation.
   Assuming there are no queries the application will normally be
     processed by the Staff Travel Section within 3 days of receipt after
     authorisation.
   The Staff Travel Section will let applicants know when an
     agreement is ready for signing when this is received back, the
     transfer of funds into your bank account will be initiated.

Finally
    This sheet is intended to give applicants a broad indication of the
      car loan scheme. Applicants are strongly advised to read and
      comply with the full notes of guidance before making an application.

If you have any queries please contact the Staff Travel Section at County
Hall, Chichester, tel (01243) 777100 ext. 77486 or 77487

				
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