In need of a car but struggling to find a company that will accept me.

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Anya.93

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Post by Anya.93 » Tue May 26, 2015 9:05 pm
Hi, I'm im the second year of my IVA, and in need of a car, my IP has given me approval as a car is essential for work purposes, but I'm struggling to find a company that will accept me! Has anyone found a good company to go with or suggest my best course of action? Thanks in advance!
 
 

luluj

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Post by luluj » Wed May 27, 2015 4:01 am
We used Moneybarn to buy a vehicle whilst in our iva ..they were very good and can source your vehicle for you if preferred. Their interest rates are slightly higher but they specialise in helping people with debt issues
Sharing from experiences of dealing with debt

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lifenoteasy

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Post by lifenoteasy » Wed May 27, 2015 7:33 am
Also see if your employers offer a salary sacrifice scheme.

You could try www.glensidefinance.co.uk.
IVA started March 2011, Completed March 2016 and certificate issued 11 days after final payment. It was not always easy but then some of the best decisions aren't.
 
 

Lisa Thomas

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Post by Lisa Thomas » Wed May 27, 2015 9:14 am
Here is a link to similar question asked on this forum for more answers:

http://www.iva.co.uk/forum/topic.asp?TO ... money,barn
I'm a licensed IP with 16+ yrs at Neville & Co covering the South West area. I have a YouTube channel with advisory videos on here: https://www.youtube.com/channel/UCMPTTu ... Z5k9ZcC2MA http://www.nevilleco.co.uk 01752 786800 Lisa@nevilleco.co.uk
 
 

Lisa Thomas

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Post by Lisa Thomas » Wed May 27, 2015 9:15 am
I'm a licensed IP with 16+ yrs at Neville & Co covering the South West area. I have a YouTube channel with advisory videos on here: https://www.youtube.com/channel/UCMPTTu ... Z5k9ZcC2MA http://www.nevilleco.co.uk 01752 786800 Lisa@nevilleco.co.uk
 
 

FormerlyST1100

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Post by FormerlyST1100 » Wed May 27, 2015 2:45 pm
As has been mentioned by others, if your employers do a money sacrifice scheme, that is the first point of call.

Following that, Moneybarn may well be the only lender willing to lend to someone in an IVA.

I have just done that myself but went via MidlandCredit who put me through Moneybarn.

There are conditions for the vehicle though, with Moneybarn, in that the vehicle cannot be more than 10 years old at the END of the term or repayment so usually means up to 5 years old at purchase.

They will also only lend the trade value of the vehicle with you paying the difference with a min deposit. I was lucky in that the vehicle I bought was being sold for less than book trade value so only had to find £400 myself which the dealer gave slightly more for my scrap part ex.

Good luck.
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