www.iva.co.uk

My car is on its last legs.
I urgently need a new car as I do about 15,000 miles per year, mainly commuting.
My ex partner, and very good friend has offered to help me to buy another vehicle and I suspect would give me about £3000.
I was just wondering if this is allowed, or would this be counted as earnings or winfall?

Secondly:
Obviously I will not get much for £3000, even with a part ex. My car is worth about £500.
I have been doing a lot of calculations and have been looking at Personal Lease Hire.
A brand new car would cost me about £130 per month.
Putting down a deposit of £3500, saving about £40 per month on fuel,(my present vehicle just drinks petrol being a 2.2cc) £20 per month on road tax, and £10 per month on breakdown cover. Plus, hopefully fewer repair costs with a new vehicle. ( I have spent £1700 in 2 years trying to keep my vehicle on the road).
The total extra cost approximately £60 per month.
Would my IVA allow me to do this as a reliable vehicle is a necessity for me?

Hi and welcome.

It's a possibility they will let you do this. You could get a reasonable car for £3k though if your ex is willing to lend you this money. That would mean that you wouldn't have to be paying anything extra a month.

Speak to your IP and see what they say.

I will speak with my IP. Hopefully they will be in agreement as I would normally be able to cover this extra with overtime. Although this is not always guaranteed.
My only concern with a car for £3000 is that I could end up again with high maintenance costs due to the high milage I need to do each year.
In an ideal world I do not want to increase my monthly expenditure, but either way, with a second hand car or a new one this is inevitable. I just know that if I continue trying to maintain the car I own at present, it will be prove costly and unreliable.

The £3000 from the ex, will not be a loan, but a very kind gift to help me. Hopefully this is also allowed.