www.iva.co.uk

Hello All,

I'm having not having much luck trying to obtain finance for a car.

My Zafira is slowly packing in and it's not very cost effective to keep paying for repairs.

I went car shopping the other day and found a really nice car that I liked. Unfortunately, because of my IVA no one is touching me...

The light at the end of the tunnel is closing down!!

can anyone help please...

Thank You

Hi - a subject close to my heart!!!

First you need to speak to your IP and ask their permission to take on credit for a new car.

If they agree, you can then look at buying. Dunctons are specialists in dealing with people with low credit scores but have a very high APR. Borrowing from a family member or close friend may be a better option if that avenue's open to you.

If they don't agree to borrowing to buy a car, they may agree to you leasing a car. Again, Duncton can help as you will find it difficult in the mainstream market.

The other option is a payment break to save for a new car - but this would usually only be £1000 or so.

Duncton do come recommended, but the downside is that you need a fair size deposit as well as the APR being high.

It might be worth approaching a family member to see if they can help you out.