www.iva.co.uk

Posted: **Wed Jun 03, 2009 8:42 pm**

I have been repaying an IVA for the last 2 years.
One of the creditors was a finance company to purchase a car.
My question is - can I part exchange the car for another car?

Posted: **Wed Jun 03, 2009 9:03 pm**

Hi
If the finance for the car was not a hire purchase agreement then yes you are free to part exchange/sell the car.
Regards

Posted: **Wed Jun 03, 2009 9:11 pm**

Hi Cap,

Just remember that it won't be easy to get any additional finance if you are looking to trade up. However I think there have been posts about a company that does offer leasing to people with an IVA.

Also, if you are considering trading up in any way, the you would be well advised to let your Supervisor know - especialy if there are likely changes to your I&E.

Cheers

Andy

Posted: **Wed Jun 03, 2009 9:48 pm**

Hi
Try www.duncton.com, an excellent company for people with non perfect credit.
I have just used them to change my car
Regards

Posted: **Wed Jun 03, 2009 10:14 pm**

That is great to hear Andy - that you can recommend this company from a personal experience. I hope you got something sporty!!

Posted: **Wed Jun 03, 2009 10:20 pm**

Andy, is that the right link has it is not working at present. I hope you are enjoying the new car. Have you got something nice

Posted: **Wed Jun 03, 2009 10:26 pm**

Paul,

I think the link has a ',' charachter in it by mistake. This should work:

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

Posted: **Thu Jun 04, 2009 6:21 pm**

Thank you for your replies - very helpful.

Just one thing - am I allowed to take credit whilst I seve my IVA sentance?

CAP

Posted: **Thu Jun 04, 2009 6:28 pm**

You are not allowed to take out further credit whilst in an IVA wothout the approval of your IP.

Posted: **Thu Jun 04, 2009 6:32 pm**

wow have you seen the typical APR 37%

youd be better off getting a good bike !

Posted: **Thu Jun 04, 2009 6:37 pm**

Good point - think I have learnt my lesson from getting credit - they are all a bunch of thieving b******...........but I am not bitter.............
CAP.

Posted: **Thu Jun 04, 2009 6:50 pm**

They are providing something for people with poor credit so you have to expect a high APR.

Posted: **Thu Jun 04, 2009 6:50 pm**

The APR is high - but if you need a car and that is the only place you are able to get one from, then it may be a case of needs must.

Several of our posters have used this firm and have been very happy with them.

Posted: **Thu Jun 04, 2009 9:18 pm**

The reality is that for getting into debt we cannot control,we must expect to be shafted with high APR for a while.
An alternative after an iva is finished is to get someone else to take the finance and pay them monthly(clearly this must be someone you can trust,and who can trust you).