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Posted: Thu Mar 26, 2009 1:36 pm
by bane
We have been in an iva for 3 years this october, we need to get a newer car as our one is getting old and costing money, we have a corsa with 2 children under 4 years and we wanted an astra as its bigger. How does this all work? (getting finance, paying for it etc) Thanks
Posted: Thu Mar 26, 2009 1:41 pm
by kallis3
You will need to discuss this with your IP as it will impact on your IVA, and may bring your payments down.
There are one or two companies who are sympathetic to people in IVA's
www.duncton.com
is one company. Or you could see if a relative could help you out with buying one?
Posted: Thu Mar 26, 2009 1:51 pm
by bane
Thank you
Posted: Thu Mar 26, 2009 1:52 pm
by bane
Do you know how some work for example??
Posted: Thu Mar 26, 2009 1:56 pm
by kallis3
Would that be car firms or IP's Smokey?
Posted: Thu Mar 26, 2009 1:57 pm
by bane
Would be both?
Posted: Thu Mar 26, 2009 2:07 pm
by kallis3
Each IP would probably deal with this differently. You really need to give yours a ring if you are thinking of going for a new car as you will need permission for the credit.
As to car firms, I don't know how they work. All I know is that Duncton have been recommended on here before and are sympathetic to people in IVA's.
Posted: Thu Mar 26, 2009 10:07 pm
by MelanieGiles
How will you fund the cost of the new car? Is this likely to affect your ability to continue making IVA contributions at the usual rate?