We've been reviewing the position in regard to our VW which has about 60k on the clock and requires a full service (£250), a new radiator (£350), brake pads (£50), two rear tyres (£120)....
It takes the 98 octane unleaded so is also increasingly costing a fortune (£1.39/L)
Basically we need to get rid I think and swap for a decent second hand - perhaps cheaper petrol or diesel with better economy.
I noticed that our current car is written in to the IVA but we plan to spend the same value in order to obtain something more suitable.
There's no HP finance on the vehicle as the loan was unsecured and included in IVA.
Does anyone know if this would usually be a problem at all?
The IP office is closed until tomorrow....
"If you know how to spend less than you get, you have the philosopher's stone."
Benjamin Franklin
Hi Beatbox, I think if you're going to swap your vehicle for another of a same value and no money is involved you could do this. One of the regular posters with more knowledge will be along soon. Hope you get that more economical vehicle.
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
When you say your car is written into the IVA what do you mean exactly? Surely the car was an excluded asset and therefore yours to do what you want with?
