private hire leasing on a car?

[Bingo2110]

im 2 & 1/2 years in to my iva and my cars on its last legs is it still possible to get not car finance private hire leasing on a car?

[MelanieGiles]

Hi there and welcome to the forum

You will need to discuss this with your IP to see what effect the taking out of a new finance agreement will have on your IVA. It is possible to get finance for car, but it can be expensive.

[Bingo2110]

sorry my question got a little mixed up, what i was ment to asking was is it still possible to get private hire leasing whilst still in an iva not the HP which is finance thanks

[kallis3]

If your IP agrees and you can afford to make payments, companies such as this will be able to sort you out a car:

http://www.duncton.com/jsp/index.jsp

They're not cheap though, as Mel says.

[Bingo2110]

thanks, another quick question, are there any people on here who have finished an iva?? and what theyre finding life on the other side like trying to get credit/finance? im intrested to know if all these banks hold it against you???? i entered my iva owing £52,000 so im wondering what ive got to look forward to???

[Bingo2110]

again my question hasnt really been answered im NOT looking for finance or hire purchase im looking to lease one, like renting but for a longer period say 2 years

[Shining]

Duncton do have contract hire cars which is similar to what you're looking for? x

[cockerhoop]

yerrrrr but 35% interest are they having a laugh, whena normal lease hire company cahrge between 5-9%

[Shining]

but sadly that's the price we pay for being in an IVA/Bankrupt

[Adam Davies]

Hi
You have to expect to pay premiums to obtain any type of finance whilst in an IVA [with your IPs permission]
Even when your IVA is concluded it will take time to rebuild your credit rating.
I now have a CC but it has a huge APR, as expected, however if you clear your balance each month then the APR figure doesn't matter.
Leasing is still taking finance, however you could look at long term rental companies, however these are just as expensive but you have no liability
Regards

[cockerhoop]

go on then, the big question
"Even when your IVA is concluded it will take time to rebuild your credit rating."
how long????????????

[Adam Davies]

Hi
After the six years are up from the start of your IVA your credit file should be clear, so no credit history at all. Sometimes defaults are registered after the start of the IVA and these take six years to drop off. You should be able to slowly build up your credit history again, using catalogue accounts, high APR credit cards etc but it will take a few years to get back into the mainstream again.
Many people are not concerned about taking credit again once they have ben through an IVA, however it can be useful to have one credit card and car finance
Regards

[andy9848]

on the car lease front i have a car with duncton and whilst the apr is high they considered me whilst in iva and the service was superb from initial enquiry to delivery.
I would recommend then

[andy9848]

on the car lease front i have a car with duncton and whilst the apr is high they considered me whilst in iva and the service was superb from initial enquiry to delivery.
I would recommend then

[cockerhoop]

i agree once IVA is finished one credit card is useful, ie hotel check in etc, and keeping it paid off is the right thing. but getting a car at a good finance rate is essential, 6 years no spare cash and a car over 7 years old, like other have said once you've done the time, you should be treated more fairly. Andy "few years" 2, 3, 4 ??????