Can I lease a new car on an Iva? I am currently renting from my parents and they are willing to drop the rent for the last year of my Iva. This will free up 200 a month to get a reliable car for work.
You would need permission from your IP in the first place and secondly you may find it difficult or impossible to be able to lease a car.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
As Kallis says: You will need permission and you will find it nigh on impossible to get a lease agreement. In addition the drop in rent would be absorbed into your IVA payment as an increase in your disposable income.
Would it be possible for your parents to lease a car for you to drive and use the rent money ( still paid to them as rent ) to fund the lease payments ?
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
I think there is a difference between leasing through work and leasing privately.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
I was 2 years into leasing a car then started my via. At the end of the 3 year lease they would not let me re-finance it & I had never missed or been late with a payment. So doubt if you would be able to get one.
I had several salary sacrifice cars through work where cost deducted off source. To the HMRC even though a salary sacrifice lease it was still classed as a company car. This was ok but private leases are totally different
Started a DMP sept '09
IVA since Dec '11
Completion Certificate Dec '16
