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V Wilkinson

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Post by V Wilkinson » Tue Jun 22, 2010 5:59 pm
I'm just about to successfully complete an IVA and am in desperate need of a newer vehicle - is there anything available to allow me to purchase a vehicle on finance - basically no vehicle equates to no job.

Many thanks.
 
 

Keepingmyheadabovewater

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Post by Keepingmyheadabovewater » Tue Jun 22, 2010 7:05 pm
hi
and welcome to the forum and well done for completeing you iva regarding you car you will find it near inpossable to get credit until the iva drops of your credit file.i am no expert but i am sure one will come along soon to advise you
JOHN
 
 

justsurviving

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Post by justsurviving » Tue Jun 22, 2010 7:28 pm
Hi, congratulations on nearly finishing! Finding credit will be almost impossible until the IVA is wiped from your credit file. However alot of people recommend www.duncton.com their APR is quite high but you are, in the eyes of any financial institution, a high risk, as someone else posted in another thread the cheaper way would be to get a family member with a good credit record to take the finance on for you if you know of anyone in the family who would be prepared to do it for you or if you have anyone who could lend you the money and pay them back monthly. Hope this helps

Jon
 
 

V Wilkinson

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Post by V Wilkinson » Wed Jun 23, 2010 8:18 am
Thaks for the replies. That's pretty much what I thought. I'm kind of hoping that my old car is going carry me for a while longer!
 
 

Shining

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Post by Shining » Wed Jun 23, 2010 8:20 am
Some of our posters use Duncton to get a car post IVA, it would be worth a look at the link provided x
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
 
 

MP1965

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Post by MP1965 » Wed Jun 23, 2010 10:23 am
Hi VW

With the IVA still on your file, even when complete, you will have problems obtaining normal high street finance.

If you can hold on until it drops off completely at the 6 year point you should be able to finance at a decent rate on the high street. This assuming all defaults etc have also dropped off your file.

This is what I did & got an APR of 7.8% on a brand new car compared to the 35% APR offered by Duncton.

Duncton is okay if you have no other option, but they are not cheap!
** IVA Completed **
 
 

V Wilkinson

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Post by V Wilkinson » Wed Jun 23, 2010 12:47 pm
Thanks for that, a year's not long to wait compared to the 5 years I've just gone through! I'm just relieved that it's nearly over!.
 
 

kallis3

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Post by kallis3 » Wed Jun 23, 2010 12:52 pm
Duncton are excellent and take on anyone in an IVA or bankruptcy.

Make sure that your credit record doesn't show any defaults after the start of the IVA. If it does, write to the creditors to request that they be removed.

Well done on completing your IVA.
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.
http://kallis3.blogs.iva.co.uk
 
 

V Wilkinson

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Post by V Wilkinson » Wed Jun 23, 2010 2:12 pm
That's good to know thank you. At last I can relax, it's been a tough five years!
 
 

Adam Davies

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Post by Adam Davies » Wed Jun 23, 2010 3:07 pm
Hi
Although Dunctons APR is high their cars are excellent and well priced. I have been delighted with Duncton and have had my car for over a year now.
Highly recommended and the only company that I am aware of hat will finance people in IVAs or with completed IVAs on their credit file.
Regards
Andam Davies
 
 

Skippy

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Post by Skippy » Wed Jun 23, 2010 3:15 pm
Andy, if you don't mind me asking, did you get your car from Duncton or did you get them to finance a car that you found?

My car is only 5 years old but if it's anything like my last Ford it'll start falling apart before the BR has dropped of my credit file!
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