Where could i get a car from with an iva ?

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david305
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by david305 » Fri Jul 07, 2017 9:12 am
I have just entered into an Iva and my car is on pcp agreement and will go back in October.
Where could i get a car from with an iva ?
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kallis3
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by kallis3 » Fri Jul 07, 2017 10:22 am
Hi,

You will struggle - do you have a family member or friend who could help you out with finance who you could pay back at a later date? You could also ask for a payment break just to get a cheap runaround.
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Foggy
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by Foggy » Fri Jul 07, 2017 11:13 am
As said, it will prove more than difficult, not only from obtaining the finance angle: Does your IP know about the pcp ending in October (he should do)? Your IVA payments should be destined to increase by this much when that happens. Your IP and creditors would have to agree to allowing further credit on a new car as well. It does happen, but htese hurdles have to be jumped first. Googling will reveal a few companies who will finance a vehicle during an IVA, at eye watering rates. The ony one I have heard of being used was Moneybarn, however, some of the others might be reliable, I don't know.
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