www.iva.co.uk

Hi there, my car is broke and i need a new one. My company are happy that i get one for same amount i pay now. My question is how can i get one? the car i have now will pay off the hpi once sold. so effectiveley i need a new one. Can i get hpi or not?

thanks

Hi,

You can try this firm, who are sympathetic to financial problems:

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

Thanks for that but 34% is ridiculous really. My ip seems to think hpi may not be a prob, i had it b4 iva but would obviously need it now im in my agrteement.

34% is very steep but reflects the risks involved in dealing with impaired credit lending.

by HPI I am presuming you mean Hire purcahse agreement.

You will struggle to gain a better rate than 30%APR as said due to the risk involved. As part of my IVA proposal I reviewed downgrading my vehicle, this was virtually impossible due to my damaged credit rating and due to my current vehicle being on a very competitve APR circa 8% it wasnt financially viable.

At least you know that there shouldn't be a problem with Duncton - you may struggle elsewhere.

I presume they have a high APR as they are taking on a higher risk.

I wonder if my IP would let me get the Maserati at £1400 a month??

plasticdaft wrote:

I wonder if my IP would let me get the Maserati at £1400 a month??

erm somewhat unlikely! LOL[:D]

Funny thing is I am more able to pay a car loan than I was before IVA

Hi
Duncton cars are reasonable deals considering that they may well be the only company dealing with adverse credit at the moment.
Regards

PD - I think the insurance allowance would be a bit beyond you as well![:D]

Duncton have had some excellent press on here - high APR or not.

At least people are able to get a new car if they need one.

if you want a car and its the only option unfortunately you have to pay a higher apr