What happens with cars during an IVA??

[kallis3]

I presume that wasn't the one which caught fire!

[angelrainbow]

Lol Jan, No!
The Range Rover caught fire on Monday and as I had sold my Nissan we were without a car, so we took the work's van (with permission!) to the auction to pick up a car - and an asbolute bargain and beauty it is too!

[kallis3]

Pleased to hear it - let's hope this doesn't go the same way![:D]

[headbanger]

Thanks all. This weekend I am going to work out I &E to see if a new or newer car is feasible. I think my 6 1/2 year old car is going to start costing with about 600 quid work already hilighted. Exhaust just about starting to blow. A bit nervous though as I dontwant to spoil iva from being viable in the first place.

[headbanger]

What is the sketch with car insurance once you enter into an IVA. I am with direct line and pay by monthly installments. When the policy is due for renewal they just auto renew unless you cancel. If you wanted to go for a cheaper quote at that point but couldn't pay it in a oner you would be stuffed as the new firm would have to do a credit check so that you could pay by installments. Does this mean you would just have to stay in this case with direct line unless you had the funds to pay for full year upfront.

[rhondda]

never had any problems with car ins. paying monthly d/debit , and i change almost every year to get cheapest quote

[mickyboy]

I've not had any trouble obtaining insurance and paying monthly. I know they do a credit check, but this check mainly relates to confirming that you actually live where you are stating and also confirms that it is you applying for the insurance.

[kallis3]

I've had no trouble in getting any sort of insurance monthly. The check they do is normally just to check on the address and doesn't show up on your credit record if anyone else were to check.

It's not actually classed as credit - if you fail to pay any of the instalments, then the insurance is just cancelled.

[headbanger]

THanks for info mickyboy and kallis3. Can you pay for car tax monthly sorry if it seems like a daft question but I have always paid yearly

[Shining]

I pay my car tax yearly but know you can buy stamps to put on a card towards your car tax unsure if you can pay monthly. You can also pay 6 monthly.

[kallis3]

I don't think you can pay for it monthly.

As Lesley says, six monthly is an option and you can buy the stamps.

[headbanger]

Is provision made for unforseen bills to get car through mot for example or just wear and tear items like exhausts and tyres.

[angelrainbow]

I have a monthly amount allocated for car maintenance, which is there to cover everything from consumables to something going wrong.
You also have a contingency allocation which you can use for emergencies.
A payment break is also an option if things are very tight and you have exhausted other options.

[kallis3]

If you have a car, then you put down seperate allowances for car tax, insurance, maintainence. If it is a big bill, then you can ask your IP for a payment break, but the missed payments would then have to be tagged on to the end, or added to your monthly payments until you had caught up again.

You can also have a small savings account so that your contigency could go into there, plus anything else you managed to save from your shopping etc.

[Skippy]

Last year I bought the stamps for my tax but I haven't done it this time and I wish I had - it's a good way of having the money without the temptation of spending it.

I do try and get 12 months at a time as I really object to paying extra for 6 months - it's expensive enough as it is without giving the government any more!