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Posted: Wed Dec 15, 2010 9:28 am
by Janine.gn
I have completed my IVA early, but now need to finance a new car for work can I get finance through a car dealer?
Posted: Wed Dec 15, 2010 9:35 am
by lem
Hi janine, I would have thought this would be very difficult to do as even though you have completed early, your IVA will still show up on your credit file for 6 years from the date it started.
Posted: Wed Dec 15, 2010 10:20 am
by Rovex
Does it HAVE to be a new one? Will your bank give you a loan? Mine will even though im just out of an IVA because i have good history with them and no debts were with them when i started my IVA.
Posted: Wed Dec 15, 2010 10:40 am
by kallis3
You could try Dunctons, they are very IVA/BR friendly. The only drawback is that the APR is high.
Posted: Wed Dec 15, 2010 11:47 am
by flow13
I believe with Dunctons you also have to have a £1000 deposit. x
Posted: Wed Dec 15, 2010 3:41 pm
by wannabedj
No matter how much I needed a car I just couldn't justify the extra amount they are charging. A friend of mine just got a BMW 1 series and will end up paying £35K back by the end of the term. No chance.
Posted: Wed Dec 15, 2010 10:51 pm
by kallis3
They do charge a lot, but they are taking a risk by allowing people with a less than perfect credit record to have a car on finance and there are several posters on here who have used them and been happy.