www.iva.co.uk

Hi, I am currently approximately 18 months in to my IVA and it has come to the point where we need to get a new car (the current one will need repairs which outweigh it's value). I have the opportunity to enter in to a salary sacrifice scheme for a car and wondered whether this is something I can just go ahead and do or whether it is likely to involve lengthy discussions etc with my provider? I am confident we can comfortably afford the IVA payments a long with the drop in wages the salary sacrifice scheme would involve due to savings being made elsewhere.
Many thanks,

Sounds like a great idea! Do not leave yourself short though. Things happen and if you cut back your expenditure you will have no cushion. Cleardebt allowed us to reduce our payment by 15% when we needed finance for a car as I believe all IPs can. Che k with whoever you are with.

We signed a lease agreement though so just be careful it isn't classified as an asset or anything. Best to talkit through with your company.

Check with your IP just to make sure. I did the exact same thing and I was told as long as your repayments can be made, then no problem

For me, the car was cheaper than the train tickets were costing me so by the time I paid for fuel it was about the same

Laughable thing is my IVA has now finished and I am still waiting on delivery of the car. Has taken 4 months to come. So check your lease companie's web site. Mine had some "cars in stock" that would be delivered in a couple of weeks so yours may have the same

A salary sacrifice is a very cost effective way of sorting things out re cars, Mrs Size is currently considering one as we speak.

As already stated, talk to your own provider, but assuming that no unreasonable figures are being bandied about I would hazard a guess that they should be supportive.

Regards.