www.iva.co.uk

Can I lease a new car on an Iva? I am currently renting from my parents and they are willing to drop the rent for the last year of my Iva. This will free up 200 a month to get a reliable car for work.

Hi and welcome,

You would need permission from your IP in the first place and secondly you may find it difficult or impossible to be able to lease a car.

As Kallis says: You will need permission and you will find it nigh on impossible to get a lease agreement. In addition the drop in rent would be absorbed into your IVA payment as an increase in your disposable income.

Would it be possible for your parents to lease a car for you to drive and use the rent money ( still paid to them as rent ) to fund the lease payments ?

I suspect you won't be able to do this as the others suggest - sorry!

I was able to lease a car through my work and had permission from my IVA company, as long as my IVA payments remained the same and were not affected

I think there is a difference between leasing through work and leasing privately.

I was 2 years into leasing a car then started my via. At the end of the 3 year lease they would not let me re-finance it & I had never missed or been late with a payment. So doubt if you would be able to get one.

I had several salary sacrifice cars through work where cost deducted off source. To the HMRC even though a salary sacrifice lease it was still classed as a company car. This was ok but private leases are totally different