www.iva.co.uk

Lease CAr Scheme - Salary Sacrifice

Hello All

I am currently in an IVA and have an old car which won't last much longer. A requirement of my job means I must have a car - no car no job! My NHS Employer does a salary sacrific lease car scheme. If I can afford the payments for a small car out of my money (I will be saving on petrol, tax insurance and repairs) is this possible or will I be credit checked and fail this?

I understand I need IP approval which I am happy to ask for - other views/experiences would be gratefully appreciated.

Thanks

MB

Hi,

I think this has been allowed in the past if you are able to afford the payments but you do need to speak to your IP about it.

As the funds are taken at source I am not sure about a credit check. Phone them up anonymously and just ask if a credit check is done.

Paul

Lovely to have a new car and I don't see why your IP wouldn't agree if you can still maintain your iva payments. Good luck x

Hi Michelle, I took out the NHS lease car salary sacrifice scheme during the proposal stages of my IVA, they don't credit check you as the payments are taken from your salary prior to you receiving it. I've had my car since July now and I highly recommend the scheme, I was told my payments would have the effect of around £240 of my net wage but in fact it has affected it by about £100 a month and for that I have a brand new car and all I have extra to pay is put fuel in it.

As long as you will still have enough disposable income for your IVA payments, your IP should have no problem allowing you to use this route to get a reliable car

Thanks for all your replies, hopefully it will get authorised asap. Can't stand the stress of the monthly repair bills for current car, and as I said no car no job!


[8D]