IVA and New Car ?

[harryboy]

Just going through the process of entering into an IVA, My problem is the need for a new car, MOT failure and will cost more to fix than its worth. Does anyone know what i can do regards to purchasing a new one ? I need the car as on call with my job and wife needs other car as she works shifts. Both cars ten years old by way. Any advice would be appreciated.

Thanks

[Broke of London]

Some IPs allow HP as part or your expenditure and others don't. You'll need to speak to yor IP and maybe one or two others if yours won't allow HP. It is worth remembering that once in an IVA you need your car to be reliable for another 5/6 years.

My car died recently and I'm only allowed £1000 to replace it...which buys a 10 year old Clio with 140,000 miles on the clock! Needless to say, I'm still looking!

[harryboy]

Thanks, so could i get one before the IVA agreed or would they look to take it off me/sell it etc ? Would i be able to get HP due to my circumstances ?

[Broke of London]

I don't know how your credit file looks so couldn't comment on whether you'd get credit or not. You would need to speak to a couple of IPs about whether they would want the car or let you keep it. You could always look at finance on a second hand car - I believe some of the bigger dealers do this. It is worth exploring all your options. I'm sure more debt is the last thing you want, but it is important you can work!

[harryboy]

As it stands now i would not be able to get finance, even for a mobile phone !! But i need to find a way for new car somehow. Ive mailed my IP to get advice, hopefully they will shed some light on where i can go with it.

Thanks

[Tillergirl]

Interested in the reference you made to not being able to get 'finance' for a mibile phone.

I am about to enter an IVA but have not upgraded my phone for several years. Wanting to upgrade to a new handset and get a new number - so I can't be contacted by any of my creditors!!!!

So I need to do this sooner rather than later?

I am probably going to stick with my current provider - Orange. And someone on here has said when you upgrade your current contract there aren't usually any finance checks as such they just review your history with them.

[Julie]

There are companies that lease cars to those in IVA's etc.. if your IP allows this and the payments do not / can be part of your proposal then Duncton are worth looking at.

[harryboy]

Tiller ive been with o2 for ten years now so no problem upgrading, but would not be to change providers. Julie thanks for that ill check them out.

[Shining]

I think Dunctons would be a good option, if you have a chosen IP keep them in the loop is all I would suggest. All the best in sourcing a new vehicle. x

[plasticdaft]

Dunctons would be after at least £200 a month which is pretty excessive if you havent already got car HP factored into your iva. A better option would be a payment break of a few months to save up enough for a runaround. Thats what I have had to do.

The other option of course is for family to take out finance for you and pay them the money each month,all options should be ran past Ip's before taking any action.

Paul

[stewpots]

Some IPs allow HP as part or your expenditure and others don't. You'll need to speak to yor IP and maybe one or two others if yours won't allow HP. It is worth remembering that once in an IVA you need your car to be reliable for another 5/6 years.

My car died recently and I'm only allowed £1000 to replace it...which buys a 10 year old Clio with 140,000 miles on the clock! Needless to say, I'm still looking!

I need a car that gets me to work (300 miles a week)

For me it would be pointless to get a car that could break down

I will need to show my IP that I need a car and probably spend the amount of money , what ever it is to make it reliable.

[Broke of London]

It's not practical for me to buy a cheap runaround either but all other options - hp, leasing, borrow from family were refused. The only option left was to breach my IVA by two months as it takes three for me to go into default. I wasn't happy to do this so I'm left with a grand to stretch as best I can.

[Shining]

I hope you find a good value for money reliable car. x

[Broke of London]

Me too. It's a 15minute walk, a tube and a bus to get to work at the moment and I pay a out £6 a day for the pleasure then have to spend £23 on a train ticket to get home to my boyfriend at the weekend. A mechanic friend is going on the lookout for me next weekend...thank God for lovely people!

[leaKybrain]

Ooo BOL all the best, I hope you can find the right one.