Posted: Fri Feb 12, 2010 11:15 pm
I'm about to enter into an IVA (assuming the creditors vote in favour) and am about to send the final signed proposals back before a creditors' meeting date is set.
However, my car (S-reg, 1998, approx 80,000 miles) had developed a problem with it's heater/blower (making demisting it virtually impossible and all journeys more than a little chilly) that's proving a nightmare to diagnose/mend. The car's worth no more than £500 so I'm reluctant to spend much on it, but it's looking like it'll have to go to a main dealer for electronic diagnosis, etc, which sounds expensive!
I'm tempted to (cheekily!) part-exchange it to a local dealer who's advertising a newer car that I like the look of. Hopefully, including the little I can part-ex my car for, I could get the newer one for approx £2500. My Mum is willing to help out and lend me most of the money, and is happy for me to pay her back during the course of my IVA on an ad-hoc basis when I can. I've also got a little saved up that I can put towards it.
Question is, is changing my car at this stage of proceedings likely to have a detrimental affect on my IVA proposal? I really need a reliable car for work and am going to look at this other car tomorrow. Ideally I'd like to be able to negotiate a deal there and then, but I don't want to jeopardise the IVA in some way.
Has anyone else found themselves in a similar situation?
However, my car (S-reg, 1998, approx 80,000 miles) had developed a problem with it's heater/blower (making demisting it virtually impossible and all journeys more than a little chilly) that's proving a nightmare to diagnose/mend. The car's worth no more than £500 so I'm reluctant to spend much on it, but it's looking like it'll have to go to a main dealer for electronic diagnosis, etc, which sounds expensive!
I'm tempted to (cheekily!) part-exchange it to a local dealer who's advertising a newer car that I like the look of. Hopefully, including the little I can part-ex my car for, I could get the newer one for approx £2500. My Mum is willing to help out and lend me most of the money, and is happy for me to pay her back during the course of my IVA on an ad-hoc basis when I can. I've also got a little saved up that I can put towards it.
Question is, is changing my car at this stage of proceedings likely to have a detrimental affect on my IVA proposal? I really need a reliable car for work and am going to look at this other car tomorrow. Ideally I'd like to be able to negotiate a deal there and then, but I don't want to jeopardise the IVA in some way.
Has anyone else found themselves in a similar situation?