Being the Leader of Opposition, what happens if I sell my car before repaying the advance?

Modified on Thu, 3 Apr at 7:34 AM

The sale proceeds must first be used to clear any outstanding balance on the advance. If you are selling the car to buy a new one, the government may allow you to use the sale proceeds for the new purchase, provided:

  • The outstanding amount does not exceed the cost of the new car.
  • The repayment schedule remains unchanged.
  • The new car is also mortgaged to the government and insured.

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