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IVA Car Finance

I am in the 2nd year of a IVA, currently in need of car finance. My IP have given my approval to get finance within a budget of £100 - £200 per month, is this something you can help with?

Posted by T Shipley on 05/09/2011 @ 11:51

Hi Mr. Shipley, the budget that you have isn't the problem. We can get you into a good car for £150 to £200 per month. The issue will be getting you approved for car finance as the lenders will see you as an increased risk. There is a chance of getting you car finance with bad credit though and even though we can't guarantee an acceptance we have access to all the lenders in the UK that potentially can help. The best thing to do is make an application (if you can get someone with good credit to go on the application alongside you this would help) and we'll see if we can get you approved first and foremost. We help hundreds of people each month obtain car finance with poor credit so you're not the only one out there in this situation. Kind Regards, Edwin

Posted by Edwin Miles on 06/09/2011 @ 14:50

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Hello Edwin, I've just come out of an IVA (thank god) and i'm looking to get back on the credit ladder. I'm 36, on the electoral roll and am looking for £5000. Can you help?

Posted by Joe Lewis on 23/09/2011 @ 10:14

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Hi Joe, If you've successfully completed your IVA and have some form of credit currently that you're paying on time then we may be able to help as we do have lenders who have helped people who have been in IVA's in the past. The good news is that you're on the electoral roll. Do you have a deposit at all as this would help get you approved. Kind Regards, Edwin

Posted by Edwin Miles on 23/09/2011 @ 11:38

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Can my daughter get car finance with an IVA and she is self employed and gets working tax credit?

Posted by Denise on 30/09/2011 @ 17:58

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Hi Denise, there is a slight possibility that we can get your daughter car finance even though she is in an IVA. Some lenders do take tax credits into account when looking at someones income also. The big question - can your daughter prove her income as she is self employed? Kind Regards, Edwin

Posted by Edwin Miles on 30/09/2011 @ 18:00

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She is classed as self employed but gets a salary paid into her bank monthly so it would show on her bank statements. I would be able to help her out if needed but also have poor credit but I do work fulltime

Posted by Denise on 30/09/2011 @ 20:22

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Hi Edwin, I finished my iva a few months back now. I still have credit in the means of phone contract and still have a visa debit account. I don't have much in the form of deposit however I do have a car that would be available for a trade in, is this an option? Im on a reasonable salary and on the electoral register. Thanks Ryan

Posted by Ryan on 05/11/2011 @ 10:21

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Hi Denise, ok - why don't you make a joint application for IVA car finance and we'll see what we can do. I'll look out for the application. Kind Regards, Edwin

Posted by Edwin Miles on 05/11/2011 @ 12:18

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Hi Ryan, please make an application and we'll see if we can get you approved. The good news is that if we can get you accepted we'll be able to take your part excahnge off you as a deposit. It's also great that you are employed and receive a salary and you are on the electoral register. My only worry is that your credit profile is too weak - but we won't know unless we try. Kind Regards, Edwin

Posted by Edwin Miles on 05/11/2011 @ 12:20

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hi, im into my last 6 months of a 5 yr IVA. im driving a clapped out 13 yr old mini. really need a newer car. i have quite a bit of money left after my bills and also use a sly credit card where i pay off everymonth in full. any advice. need a car for my new baby in feb.

Posted by Stuart on 23/11/2011 @ 19:14

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Hi Stuart, thanks for using the Q&A. It is possible to obtain car finance for people who are in an IVA. Are your current credit agreements up to date? Are you on the electoral roll at your current address? Do you have a full UK licence and can you prove your income (payslips & bank stats etc)? It also may help if you can place someone else on the application to make it a joint agreement. Kind Regards, Edwin

Posted by Edwin Miles on 24/11/2011 @ 14:35

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We are due to end an iva in April 2012 we desperately need a new amply car can we get car finance?

Posted by Caine on 09/01/2012 @ 10:13

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Hi Caine, if you've got most of your debts up to date and you have a 10%-15% deposit we may well be able to help. Please make an application and we'll see what we can sort out.

Posted by Edwin Miles on 09/01/2012 @ 10:14

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Hi Edwin I recently completed my IVA, am in full time employment with a separate pension. I currently pay £450 a month rental for a vehicle required for work but have been offered purchase of it for £3000.00, but haven't got access to this amount of money. I have 10/15% but could I get the remaining finance on a short term loan? I have DD's for my phone & SKY contracts. Regards David

Posted by David on 13/01/2012 @ 09:54

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Hi, I'm currently in an IVA and have been for 3 years, I am also serving in the army. I have had problems getting finance in the past due to not being on the electoral roll, and being a member of the armed forces, and also being in an IVA. Is this something that you could help with. I need to buy a new car as my family is about to expand out of my current car and require a 7 seat car. My budget is around £150ish a month.

Posted by Richard on 18/01/2012 @ 21:44

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Hi David, we'll certainly try and help and as your IVA has been completed this will give us a greater chance of getting you approved. I look forward to receiving your application.

Posted by Edwin Miles on 19/01/2012 @ 14:45

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Hi there, I have just made my last IVA payment and am looking for a new car before mine goes to the big car park in the sky. I have not yet received my completion certificate but my IVA company have agreed to issue a letter of approval for obtaining credit. My credit report isn't great due to the IVA (two are showing default dates after the IVA commenced which is incorrect) - one star at the moment, but I've been at the same address for 6.5 years, have been with my employer for 11 years, am on the electral roll, have a full UK driving license and passport and have a mortgage which has never missed a payment. I've seen a car at £9000 but currently have no deposit other than my current scrap value car. Would it be possible for me to obtain a loan from you? Thanks

Posted by Rachel on 20/01/2012 @ 10:38

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Hi Rachel, we could potentially help and congratulations on the end of your IVA. We have helped ex IVA customers in the past but everyone's circumstances are different. You'd have to apply for us to be able to view your credit history and then hopefully we'd be able to obtain you credit from one of our lenders. If you're looking for £9000 you will have to have at least £500 deposit though. Can you get your hands on this? Kind Regards, Edwin

Posted by Edwin Miles on 20/01/2012 @ 10:40

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Thanks Edwin. I have applied and have been provisionally approved subject to relevant checks, etc. However, is the £9000 even relevant as all your cars are advertised as "per week" so I presume I just have to choose a car that suits my budget rather than borrowing a specific amount? Also, I didn't realise that I couldn't buy a car that I've seen elsewhere, so again, the specific price may not apply. Thanks, Rachel.

Posted by Rachel on 20/01/2012 @ 17:44

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Have a good look at the cars and if we don;t have one that suits you we'll get one in to order. The best person to speak to is Alex Hurst on Monday - call 0800 019 7180

Posted by Edwin Miles on 20/01/2012 @ 17:47

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Hi Edwin, I settled my IVA early last year, 3 years in. I need a car for work but I'm not sure anyone will touch me still within the 6 year period? I have a good salary, mortgage, mobile, sky etc all always paid on time. Been at employer over 8 years and same address for 5, on the electoral role. Do you think you can help? Much appreciated.

Posted by Andrew on 22/01/2012 @ 15:46

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Thanks for your help Edwin.

Posted by Rachel on 23/01/2012 @ 08:14

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Hi Andrew, from what you say your credit has drastically improved but, before we could inform you of whether we'd be able to help or not we'd need to see your credit file. We can't do this until you apply and i'm sure you can appreciate that everyone's case is very different when it comes to an IVA. We have helped people obtain IVA car finance in that past that have recently come out of an IVA and as you're in work, have a good salary and have a mortgage (which i assume you're paying every month on time) there's a good chance of gaining an approval but the rates will be high as you're seen as a bigger risk. How much are you looking to borrow? Edwin

Posted by Edwin Miles on 25/01/2012 @ 11:15

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Hi,I completed an IVA about 3 years ago and this is no longer on my credit report. I have managed to get 2 credit cards, one of which is paid off and the other will be paid off in about 3 months. I also have a mobile contact and have not missed a payment on anything since brfore my IVA ended. The credit cards and mobile contact have been taken out in the past 9 months. Am I likely to get finance for a new car of around £10000? Many Thanks.

Posted by David M on 01/02/2012 @ 11:28

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Hi David, as long as you've made every financial payment on time for the last 3 years i'm sure we'll be able to get you approved for car finance. Do you have a deposit as some lenders look favourably on this? Don't worry too much if not as we have access to many lending companies. Lastly, are you on the electoral roll at your current address and can you prove your income? If so, we should be fine. I take it you have a full UK licence too. Please make an application and hopefully we'll get you accepted today. Regards, Edwin

Posted by Edwin Miles on 01/02/2012 @ 11:32

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Hi Edwin, Just a quick question i am on an IVA at the moment and am in need of car finance is it posable to get this? also on the guaranteed car finance is that really guaranteed ? thank you :)

Posted by Scott Mckinnell on 02/02/2012 @ 22:18

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Hi Scott, thank you for your question. We can't guarantee finance to everyone and as you're currently in an IVA we may find it difficult to get you approved. However, everyone's case is different and we have helped people in IVA's before. Please make an application and we'll see if we can help. Kind Regards, Edwin

Posted by Edwin Miles on 03/02/2012 @ 08:42

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Good evening, last April i completed an IVA agreement and i am thinking about buying another car but i am concerned about getting finance. Is this something you would be able to help me with if i decided to go ahead with buying another car. Thank you, Andy

Posted by Andy on 13/03/2012 @ 08:38

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Hi Andy, now that you've completed your IVA we should be able to help depending upon how your current credit accounts are being run. Are all your existing payments up to date or has all your credit been paid off? Do you have a deposit or part exchange and can you prove your income with payslips / bank statements? Lastly, how much are you looking to borrow and what is your monthly budget? Regards, Edwin

Posted by Edwin Miles on 13/03/2012 @ 08:40

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Hi Edwin. All of my credit has been paid off and all my payments for my mobile phone and car insurance etc is all up to date and no payments have been missed. I can provide payslips and bank statements and I am looking at buying a car for around the £5000 mark and my monthly budget would be around the £200 to £250 per month. I can part exchange my current car. Thanks, Andy

Posted by Andy on 13/03/2012 @ 13:22

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Thanks for coming back to me Andy. Please apply and we'll see what we can do. It's down to our lenders to be honest but we have helped people out before who have been in IVA's and just come out of IVA's. Every case is different but you tick most boxes. Edwin

Posted by Edwin Miles on 13/03/2012 @ 13:55

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Hi, i used to be in a IVA 5 years ago and wondered what chance i would have in getting approved for car credit. I have had car finance since the IVA but that finished a year ago and it seems harder now to get accepted. I have a visa card which has just been upped again for good payment. Thanks

Posted by Paul Masterman on 15/03/2012 @ 14:57

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Hi Paul, as long as your current live credit agreements are in good order there's no reason why some of our lenders wouldn't take a look to see if they could help out. How much finance is required and do you have a deposit or part ex? Are you in full time employment and can you prove your income and lastly are you on the electoral roll? Edwin

Posted by Edwin Miles on 15/03/2012 @ 15:00

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Hi there, We finish an IVA in May 2012 after 5 years of living with-in our means. (Which we should have done originally!) So, we are pretty good with money and budgeting now (Learnt the hard way!!) We are both in good jobs, but in need of a new car for commuting back and too to work. Are we able to get car finance? Nothing expensive, weve researched and for a decent economic one for us is about 3k. How do we go about this? Thanks.

Posted by Phillip on 24/03/2012 @ 11:47

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Hi Phillip, thank you for your question. Hopefully we'll be able to get you approved and if so, we'll be able to get you £3000 with no problem at all. All you need to do is apply so that we can asses your credit and then try our best to get you approved at one of our lenders. We can help people who have been in IVA's and who are in IVA's but every circumstance is different. Kind Regards, Edwin

Posted by Edwin Miles on 24/03/2012 @ 11:50

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Hi Edwin, I have just completed my last payment of my IVA this month & I'm currently waiting my completion certificate which shows I had an immaculate payment history, with no missed, holiday or reduced payments. I have been in my current employment for 18 months, I was with my previous employer job for 10 years. I have lived at my current address, which I rent privately, for 7 months & my previous address I was at for 3 years. I have had a mobile phone contract for years with no missed payments & utility bills which also show no missed payments. My current car is on it's way out & I'm desperate for a newer one valued at approximately £8000 to £9000, using my car as part ex, but unsure if I could get finance. Would this be something you could help me with Edwin? Kind regards, Emma.

Posted by Emma on 27/03/2012 @ 22:37

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Hi Emma, thank you for your detailed question and congratulations on completing your IVA. From what you have said you tick a lot of boxes - you're employed, can prove your income, have a part ex to use as a deposit and you've kept your payments up to date over the last few years. If we can get you approved the £8000 shouldn't be an issue but just a few questions. Are you on the electoral roll at your current address and other than your mobile phone contract do you have any other live credit agreements that you're paying on time? E.g. loans, credit cards, store cards. It's just that our lenders will look for comparable credit when assessing your application. Thanks, Edwin

Posted by Edwin Miles on 28/03/2012 @ 09:16

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Hi Edwin, Thank you for your reply. Yes I am on the electoral role, however I have never tried applying for loans or credit cards throughout the term of my IVA as I had always thought this wasn't allowed until so long after I had completed it, so I therefore don't have any other credit agreements other than my mobile phone contract which shows no missed payments. Kind regards. Emma.

Posted by Emma on 28/03/2012 @ 21:13

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Hi Emma, without a deposit realistically we'll be able to get you £5000 maximum if we can get you approved. However, if you can supply a deposit of say £1000 we have a better chance of getting you the £8000 you want. Kind Regards, Edwin

Posted by Edwin Miles on 30/03/2012 @ 10:17

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I am due to complete my iva in May and am needing to buy a car asap. If I was to apply in June would I get credit of roughly £2000? Thanks Kirsty.

Posted by Kirsty on 26/04/2012 @ 21:59

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Hi Kirsty, the minimum advance we do is £3500 on finance. The reason for this is to get you into a decent car. Cheap cars tend to have lots of problems and end up costing more in repairs than the car is actually worth. If you complete your IVA in May and apply in June there's a good chance we'll be able to get you approved as long as any current credit is up to date :-) Kind Regards, Edwin

Posted by Edwin Miles on 26/04/2012 @ 22:09

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Hi there, I have just completed an iva and now that i'm back on top of my finances I would like to up grade my car hence needing car finance. Would I be considered for finance if my credit report shows a low score? But because I am debt free I have more than £70k annual income. Would any company be interested in me. Regards mark

Posted by Mark on 14/05/2012 @ 15:06

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Hi Mark, yes we should be able to get one of our lenders to help you get approved for car finance. How much do you require and what level of deposit do you have? Lastly, are you on the electoral roll and do you have any current clean credit accounts? Edwin

Posted by Edwin Miles on 14/05/2012 @ 15:30

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