Vehicle Leasing

[markmeone]

Hi All,

Was wondering if anyone could give me some advice. My Partner and myself are two years into our IVA, when we took our IVA out we had a lease vehicle as i work quite away from home and my children go to the nursery based at my work, i also do quite a bit of work mileage. Anyhow this sceheme comes to an end in March, i contacted my IP (Grant Thornton) they say i can take another lease vehicle on with a different company but cant take any finance. I tried a company called Aztec Vehicle solutions, the guy i spoke to told me they may be able to help but would require me to pay a minimum of £1500 deposit, has anybody else had this problem or know of another leasing firm that may do an offer with no deposit as my partner is on maternity leave only earning the state mat pay so we have already reduced our iva payments.

if anybody can help i would be most appriciative as we are really stressing now

[Shining]

Hi, I know some of the posters on here do use www.duncton.com

I think there is a deposit to find though, hopefully someone will come along soon with another suggestion.

[markmeone]

Hi Lesley,

Thanks for the response, the deposit is our biggest problem, we just cant lay our hands on that much money.

Our IP has been really good about it, even to the point they have said they would provide an 'OK' to a company who would take us on, its just finding one that requires no deposit!!!!

[Shining]

Can you miss a payment or two and tag these on the end to cover the deposit, with the consent of your IP? Alternatively, if you took the payment break to cover the deposit and then paid a little extra on the payment to chip away at the arrears?

I do realise your partner is currently on reduced pay, but I'm assuming here that full pay will be reinstated at some point?

[Adam Davies]

Hi
Most leasing companies or HP companies wull need a deposit, usually three months for a lease. See what you can arrange with Duncton and then see if your IP will grant a payment break so that you can fund the deposit
Regards

[markmeone]

Hi Both,

Thanks for the responses, even with a payment break 3 months payments wouldnt amount ot the deposit required, my partner had to take just over £1000 per month pay drop as her compnay dont have a maternity scheme so she only had 6 weeks at 90% pay then £118 approx per week up to July this year, so our iva company very kindly allowed us to drop our monthly payments from approx £500 per month to around £100.

I take if you paid 4 months deposit you wouldnt pay for the vehicle for the first 4 months? if so would the iva company loan back say £1000 and the 4 months you dont pay for the vehicle pay them back???

or am i living in a complete cuckoo land!!!!

ive frazzled my brain trying to sort something out for the last few days!!!!

[Shining]

I'm sorry I can't answer this as I don't know much about leasing, if Julie is on later I think she leases a car and may be able to advise further, I do hope you get this sorted as soon as possible.

[markmeone]

Thanks Lesley for your help, i'll hang about for Julie if she comes on.

Ta

Rus

[Adam Davies]

Hi
No, you pay three months and then start paying monthly straight away I'm afraid.
Would a family member take out finance on a car for you, with your IPs permission ?
Regards