Any available options?

[Wolfie]

Hi

New to the forum, so "Hi to all" and hopefully be here for a wee while.

I am almost at the end of year 4 of my IVA and it has passed by with little trouble. In about year 2, I had to get a second hand car as my then car was almost dead, so I contacted my IP and I was allowed a 6 month payment break to save for a new car. I saved up and bought a car. This car has now decided to pack in and when it's MOT is due in September will fail as it is currently unsafe to drive as it is, but I gave to travel 36 miles to work.

I don't want to take another break (which I don't think would be allowed) and I certainly don't want to take a non status loan even with my IP's agreement as the criteria would be a min of £6000 loan for a car with less than 100,000 miles, younger than 2008 model, paid over 48 months with a 10% deposit and £150 admin fee!!!

Are there any options available that are not as daft as the £6000 car criteria that may be approved by my IP?

I am able to work a days overtime to pay for the extra payment (looking at about £100 a month) and this wont have any effect on my current agreement.

Thanks for any help and please be gentle.

[Adam Davies]

Hi and welcome

It's a tough situation, you need a car but the cost and criteria make it very difficult

Do you have a family member who would take on the finance for a replacement car in their name ? With your IPs permission you could pay them the £100 cost each month

Regards

[Michael Peoples]

Andy's idea seems fine and I am sure your IP would not have a problem.

[bridgey]

could you look to swap your old car in for an older, working car - same value?

Have a look on autotrader... there's loads of reasonably priced cars atm

[Wolfie]

Andy's idea is a good idea, but the only two people who know that we are in an IVA is the wife and myself.

I think it is down pure embarrassment that we have found ourselves in this situation that we have'nt told anyone. I wouldn't even know where to begin to explain.

My neighbour's daughter has an 03 corsa up there drive. She has only just past her test and can't afford to run it so I may put in an offer there. Will have to have a good look at it as it has been up the drive for a while now.

Will keep ya posted. Thanks for the responses.

[Wolfie]

Hi

Quick update.

My neighbors car was in a bad as condition as my own car so that was a non starter (pardon the pun). I ended up putting my car on eBay and to my surprise sold for more than I would have got for scrap so that was the start of the good news.

Next, knowing that we needed a car, my dad said that the chap opposite sells and buys cars as a hobby and has an Audi A4 with full service history for £450 because it had a fault. I thought Hmmmm frying pan and fire spring to mind.

I was offered the chance to take it to a garage and see what the problem was on a diagnostics machine before buying. I described the problems and within 10 seconds of lifting the bonnet he wiggled the dip stick and said "that's your problem. You need a new dip stick to create a seal to stop the crank pressure from coming out of the dip stick hole". His advice was free and a £12 dip stick from Audi and the car purrs along the motorway. Ive found my new garage I think.

Fuel consumption wise, I was surprised that it is no thirsty than the Megane, so no extra expense fuel wise, £12 extra for insurance a month and because the car is on the old road fund system, it is just £230 a year or £126 for 6 month.

I phoned my IP to see what my threshold is before I need to introduce more money in to the IVA and it now allows me to work an extra days overtime to help with any expense.

14 months and counting

[Foggy]

Excellent

Most, if not all, of my cars of late have been ebay or "trade" buys -- it is amazing how many expensive sounding ( or feeling ) faults on today's cars are often down to a worn sensor or the wiring thereto --- this is where a bit of research on owners forums can be a godsend

[Wolfie]

Where would we be without forums??? Worse off that's where.

@Foggy. Just read some of your blog and it was very informative. Lots of abbreviations that I need to get my head around as I have not come across them.

[Foggy]

Hi Wolfie --- you are welcome to ask about abbreviations and I will attempt to clarify --- after a while you will be using them too

[MelanieGiles]

Great news about the car Wolfie. I've been driving Audi's for years, and I love them - although they can be expensive if they need repairs. Give her plenty of TLC, and I am sure she will see you through the IVA.