Will I be able to get a new car on finance ? I completed my IVA in April after 5 years.

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Hania.k

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Post by Hania.k » Sat Aug 22, 2015 2:14 pm
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I completed my IVA in April after 5 years. My payments were always on time.

I have applied to get a new car on finance. Will I be able to do this or because I was in an IVA, will this mean I will get a refusal.
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luluj

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Post by luluj » Sat Aug 22, 2015 3:39 pm
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Until the 6th anniversary of your iva start date your credit report will show the iva. Depending on the garage you are using it will depend if it shows up or not and whether they have 'a way round' their system ..often they do but it may mean a slightly higher APR.
Moneybarn are a recommended company for people with ivas that require csr finance ..it might be worth talking to them.
Sharing from experiences of dealing with debt

There is a solution for everyone .... Just need to stay positive !

Look at my blog "All I wanted was a baby"
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Foggy

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Post by Foggy » Sat Aug 22, 2015 5:11 pm
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Have you had your certificate of completion ?
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
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KAYKAY

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Post by KAYKAY » Sat Aug 22, 2015 5:43 pm
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I was offered a car loan from Car Loans 4U shortly after completing my IVA. I did inform them that I just come out of an IVA. They provided me with a loan at a competitive high street rate through Barclays Finance. This was back in 2011. Think I had received my Completion certificate before I applied. Not sure if they are still up and running. Might be worth ringing and making some inquires.
IVA Completed August 2011
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kallis3

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Post by kallis3 » Sat Aug 22, 2015 6:24 pm
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Also check to make sure you are off the Insolvency Register.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.
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Shining

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Post by Shining » Sat Aug 22, 2015 11:08 pm
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It's not impossible but best to wait for a competitive rate until credit file is clear and you've that all important certificate.
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
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