Just fishing for some advice / information really. We are rapidly approaching the end of our IVA (2 payments to go yipee) And will be looking to replace our ageing car in the new year. Now I know we will struggle to get mainstream lending, but it's not impossible.
We will probably approach our bank who have been pretty good, and who also say our credit rating is fair. How that works being in an IVA who knows?
But as a secondary option we are thinking of possible HP with someone like Carshop Warehouse. Does anyone have any experience with A/ Carshop warehouse finance, and B/ If they were able to gain this after their IVA?
Now please before any one goes off on one saying why get credit after being in an IVA? it's been a long hard lesson in managing money, and being in the IVA, all spare money has been taken up by day to day living. Once it is complete we will have near on £650 per month spare. We are not looking to be extravagant in our new purchase. We have a budget, and we will stick to it no matter what any pushy salesman is trying to do. If that happens we will just walk away, there's plenty more out there fighting for business.
So back to the main point of this post, does anyone have any suggestions.
Do you know what I would do Andy aswell? I would save a couple of months of your IVA payments towards a good deposit for a car, you may find then if you approach your own bank they may be prepared to give you a better interest rate if they can see you have also saved towards it
