www.iva.co.uk

Hi, we are 14 months into our IVA, when we took it out we did not want to put our cars in but were advised as they were personal loans not hp then we had to. We now no longer need one of the cars so contacted our ip who told us we could sell it and pay the money into our IVA (less the cost of a cooker which we desperately need). However this morning when we tried to sell it we were told it had come up on an hp check and we could not sell it! Confused as we now have a car we dont drive yet still have to tax and insure but we were told by ip we could sell as not on hp, and no cooker! Help someone has given us wrong info![:(]

Hi
Often companies such as Black Horse put a marker on the car even though it is not secured against the car. You need to speak to the finance company involved and instruct them to remove the hpi marker.
Regards

Thanks for that, feel really sick about this as car needs taxing at end of month and MOT coming up in a few months too. Its not worth much as it was my personal runaround but as hubby disabled and not using his at all we thought we were doing the right thing by selling up and paying it off our IVA.

Hope you get it sorted emsmum.

If there is a problem and you are not using the vehicle, you can always declare it SORN with DVLA and you don't need to pay for tax or MOT. so can save money that way.

Thanks, the only reason we are not using the car is because my husband no longer drives due to his disability, therefore it is not needed anymore. We are still financially able to do the taxing and pay the insurance but it really seems like a waste of money. Will speak to my ip on Monday to see if they can shed any light on matter as to why it has hpi on it when it was a personal loan. As above poster said they prob put marker on it and it needs removing. Lets hope so cos we are desperate for a new cooker! x

Hi
We have had similar questions posted in the past from people facing the same problems as yourselves.
You should be able to get this marker removed, sell the car and introduce the balance into your IVA
Regards

Hopefully you can get it sorted - let us know how you get on.

despite being able to pay tax etc., if you are not intending on driving the car you can get it SORNed.

It is a waste of money even if you can afford to do it - if you declare it SORN then you don't have to pay it.

I declared a car SORN for a while and you can stop paying tax, mots, insurance etc but if you want to use the car again you just notify the DVLA, getthe legals up to date and off you go.

I think you may have to pay insurance as if the car is stolen then you can't make any claim for it.

Must admit that I haven't pondered this one before .... but ... if the car is SORNed and off the road, it might be worth having a word with an independant broker to see if there are any "nil mileage" policies around, just to cover the actual car. Why pay for the risk of beimg hit or hitting another dirver when the car isn't even on the road ?

Edit: Just had a quick look around and it seems there is such a thing as a "Laid up" policy that would cover it for fire and theft. Apparently it's popular among kit car builders while the car is being built. Have a word with Adrian Flux or Footman James, who deal with specialist and kit cars.

Third party fire and theft may cover it. I don't think you need specialist insurers as they are going to charge a fortune.

A normal insurance policy should cover you.

Jan, specialist kit car insurers aren't expensive and deal mainly with limited mileage cover, most specialist vehicles are only on the road during the summer!

Larger companies do laid up cover, which is basically fire and theft as you don't need to cover third parties and apparently some household insurance can cover laid up vehicles.

(I have been "Googling" !)

My household insurance wouldn't cover it, and I don't know of any insurance company that would do that.

It may well be down to where the vehicle is kept i.e garage or drive. I think I'd go with third party fire and theft just in case.