i need to replace my car

[markh]

i need to replace my car, but i was told that the only way forward is to buy cheap runaround.surely that not the answer. as it mite cost more to run+repairs. as i do alot of miles. wished i never whent throw with iva, am i able to pull out of iva and aprotch crediters

[MelanieGiles]

Hi markh and welcome to the forum

How long have you been in your IVA? What provision was made for car maintenance in the original proposal, and did you feel that your car at the time would last the full five years of the IVA? These are things that must be given due consideration to from the outset, and are sadly overlooked a lot of the time.

Have you tried looking at finance options - or perhaps a family member could help out maybe taking out the finance in their own names and you could reimburese them? You can get some very good second hand deals at motor traders these days.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk

[hara]

Why do feel that IVA would not be the way forward?
Though I can not comment with out the facts to hand I feel that pulling out of IVA just because you are not allowed to buy a decent car as you do lot of miles may not be the answer.

If you explain and make a good case you may be allowed to buy a decent car.

The biggest mistake would be to pull out of IVA and approach creditors directly as this would take away a legally binding solution with end in sight and place you at the mecy of creditors who may start charging interest.Also importantly it is not legally bindind and the hassle of approaching them with out knowing the out come and if you fail they wiil seek to recover their monies through courts.

With regard to cars,all old old bangers may not be bad, it is what is underneath the bonnet that matters , may be volkswogan who are reputed to have good engines or a japanese car wich I hear are supposed to be very reliable.
Hara

[ray_a]

When i went into the IVA I raised this point and my supervisor did say it was possible for me to get a second hand car on finance as longing as I cleared it with him first.

Have a chat and explain the situation to them as your first point of call.

Regards

Ray

[Oliver]

Discuss with your IP what kind of payment break you may be able to take from your IVA so you will have an idea of how much money you will have to spend on the vehicle. As Mel says second hand cars are fairly reasonable at the moment.

Best Regards
Oliver

Thomas Charles and Co Ltd.
Experts in personal debt solutions.
Read customer feedback at: www.thomascharles.com/about_us.asp

[Cybus]

Mark, do you own your car or is it on HP?
If you are making a monthly payment for the car already, then there may be the option to change your car when the HP comes to an end. It is entirely possible that you would be able to negotiate a new car on HP, but you should not be looking to pay any more per month than you already are.