Hi, Hope you can help. I am trying to obtain car finance or leasing. I have approval from my IP to do so as it was written into my IVA from the beginning ( I have to have a reasonable car for work of which i get a cash car allowance for). having read previous posts I tried Duncton Finance, but they do not finance people in N.Ireland. I have also tried MSG Leasing and they are the same. I was wondering if anyone had any experience or knowledge of any companies who can supply the same service in N.ireland. Thanks
Can't help you with that one I'm afraid, but if Michael Peoples comes on tomorrow he may know as he is from NI.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Sorry - I cannot help with that one. For some reason, a lot of finance companies are reluctant to support Northern Irish customers - which is ridiculous in my opinion. Michael may know of someone.
If unable to obtain a car on finance/leasing. Are you able to get a friend/partner/family member to get one for you? Not sure on the legal obligations though so you'd have to look that up!
If Football was meant to have been played in the air then God would have put Grass in the Sky
It isn't that easy although oddly some of our clients have actually raised funds from their local bank during IVAs. Admittedly, this was when you could make an appointment with the local manager and they would then contact us for approval. Now everything has to go through 'Head Office' so the local relationships have gone.
If you cannot get a friend or relative to obtain the finance as Wannabedj suggests it may be possible to open a credit union account and try and arrange the finance from there. Other than that I am sorry but I know of no other means of raising the funds.
Hi, Thanks for all the advice on this subject. To be honest i am feeling slightly mislead by my IP ( Grant Thornton). I explained my car situation before the IVA began and was told I could finance albeit at a high interest rate when my hubby finished paying his HP. We both get substantial car allowances within our salary to enable us to have a good level of car for our jobs. They now seem to be backtracking and telling us that it will be VERY difficult to achieve finance, and they seem more concerned about getting the extra payment when my husband finishes paying his. I cant help thinking that they would have known that people in NI could not get Finance when in an IVA.
Looks like my last and only option is the Credit Union, as I cannot ask a friend or family member to purchase a car for me.
Thanks for the advice anyway.
A credit union is a good place to obtain a loan and a low rate. The rates have changed since I had 1 but they are still lower than most banks.
Not sure what the unions are like in NI, but the one I'm in (England), you need to be saving with them for atleast 3 months. And you seem to be limited to the amount you are allowed to borrow. As you both need decent new cars for your jobs you'll be looking to borrow £15K+ each .A credit union might be reluctant to lend that sort of money without any kind of guarantee.
Getting credit out in another persons name might be your only option. But legal implications might hinder you from doing this.
Last edited by wannabedj on Wed Jun 09, 2010 12:02 pm, edited 1 time in total.
If Football was meant to have been played in the air then God would have put Grass in the Sky
'Not sure what the unions are like in NI, but the one I'm in (UK)'
'to borrow £15K+ each (not sure what it will ne in euros).'
Just a minor thing Wannabedj but N Ireland is still part of the UK and we have Sterling and not Euro. Your link however is correct as credit unions are operated on an all Ireland basis irrespective of whether they are in the North or the South.
What about renting a car from a rental company? I know long term leasing is better but as this isn't an option maybe renting is? A friend of mine rents cars he changes them every 3 months. He has an account with europcar and as he's a regular customer he gets a discount. I hve no idea of how much he pays though.
Last edited by wannabedj on Wed Jun 09, 2010 12:09 pm, edited 1 time in total.
If Football was meant to have been played in the air then God would have put Grass in the Sky
Hi, I will contact the Credit Union and have a chat with them. It will be just one car as my Husbands will be paid off. £15K would be sufficient as I have a car to trade in. I am just a little annoyed that I wasnt warned of this by the IP before it started. As I said, I feel i have been misled into believing I could achieve this, even to the point that they wrote this into the IVA, that I could take over the car payments. OH Well, my search for a solution will go on!
