Car Finance

[gracey84]

I'll be starting my new job soon for which I will need to drive. As its long journeys i'd feel safer being in a reliable car for this reason can I apply for car finance. I know credit agreements are forbidden but wondered if this would be different as the car is the security!

If not, say my dad was to buy a car for me would I be able to pay him back for it or again would this be seen as credit??

Only thinking £1-2K

[chris.g]

Yeah, I think it would be seen as credit. I think the best thing to do is contact your ip and explain, see what they can suggest.
Good luck,
xx

[cfnc]

I would talk to your IP, they may allow it if it meant you were able to still contribute to your IVA.

Our report just says that if we required any credit we need to get our IPs approval first.

Kirsty

[dcl]

Hi gracey, I need a reliable car for work and as mine was 5 years old this year and desperately in need of repair (I travel 126 miles a day round trip for work) I spoke to my IVA company and they allowed me to pay a monthly amount to my brother if he bought a car on finance but they wouldn't allow me to buy one. My brother was able to get a much better deal than I ever would and luckily I had an inflationary payrise that allowed the payments. As long as it doesn't affect your monthly payments you should be fine.

[MelanieGiles]

I am sure that your IP will be amenable to your suggestion Gracie, so long as it does not affect your ability to fund IVA payments - whcih would need the agreement of creditors.