Can i get car finance or lease when in an iva?

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agnieszka141

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Post by agnieszka141 » Mon Jul 26, 2021 6:06 am
Can i get car finance or lease car if am on IVA ?

Foggy

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Post by Foggy » Mon Jul 26, 2021 7:26 am
I doubt it --- even a lease is still a credit agreement and you would need to pass the lenders credit checks. You would also need the agreement of your IP, which might be a stumbling block, even if you found a sympathetic lender.
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size5

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Post by size5 » Fri Jul 30, 2021 2:43 pm
Hi,

If you have one already, then you should be allowed to refinance or get another one. Creditors however will expect that there needs to be a good reason for doing so, age, condition, mileage etc, and they will either expect that you do not take on a larger commitment than you already have or limit you to a reasonable amount per month, say, £250.

If you do not already have one, then you would need the express permission of the supervisor to do so.

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