www.iva.co.uk

Hello All,

Long time no speak, I entered a F&F IVA in June 2016 and the completion was January 2017. We are clearly still impacted by this however over the last few years we have passed some credit sweeps for a small loan and swapping phone providers.

My question is both of us are looking at new cars, both are run completely into the ground and we have been looking at leasing which seems possible as the risk to the company is low as they continue to own the vehicle. However do you guys think that dealership finance is out of the question for us at the moment? Has anyone any experience they could share around different types of finance that have achieved please,

Many thanks

Reeves

As you say, I would have thought PCP was a better bet. I am out of my IVA for more than the 6 years, so all clear, but I recently funded a car change using a personal loan with the bank I have been with for some time. It has taken me this long to actually get the courage up for a loan and it will be paid back much sooner than expected as I don't like the 'burden' !

Thanks for this, yes I understand the pressure on taking out finance again. So are you saying PCP in our circumstances, still less that 6 years, is possible or not though? Sorry I am not understanding.

I am saying I think PCP is probably more likely wioth the IVA showing still. I imagine companies vary as to acceptance criteria though, so it might be an idea to get soft searches done by enquiring on Clearscore or similar, so phoning each finance house and asking before any searches are done. What you need to avoid is a series of hard searches and refusals, as each one lowers the chance.