Second hand car on finance

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chris964
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by chris964 » Mon Jun 26, 2017 5:40 am
Can we go for a second hand car on finance, obviously not expensive. Thank you.
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Foggy
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by Foggy » Mon Jun 26, 2017 6:34 am
If you are in an IVA you will need your IP's permission for any credit over £500, which would probably not be forthcoming unless the circumstances were such to warrant it. In additiion you will not pass the lenders credit checks (unless going to a less than reputable lender of the "break yer legs" variety).

If a car purchase is imperative and you are looking at real bargain basement e-bay types your IP might agree a payment break, which will be added on at the end, to allow you to save a few months IVA payments to fund it --- but this is purely discretionary and a payment break is a "lifeline" you should not throw away (use) without good reason.
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kallis3
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by kallis3 » Mon Jun 26, 2017 6:44 am
Is there a family member who could help out with finance?
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