www.iva.co.uk

My wife and I have just completed our IVA and desperate for a new car. Weve had verbal confirmation of completion and been told we should have our completion certificate within 2 to 3 weeks. Can anyone recommend any car finance companies (if any) who are willing to len to people post IVA. We were paying £1700 a month into our IVA for the last 2 years so any company will be able to see we can afford repayments...

Moneybarn I believe is one...although I do believe there are others. Hang around another poster will be able to tell you.

Welcome to the forum by the way x

Cheers Lesley, wish I had found the forum earlier

The forum is a godsend to so many. You've got through though and successfully well done for that, hope your debt free future is a very rosy one! x

You're not too far away from completion now so good luck in your final months.

Thank you, looking forward to it so much

Carloans 4U is another one.

We've just used a broker who has sourced three finance companies offering high street deals.....we also approached Moneybarn but there interest charges were too high.

How do you go about using a broker then?

We searched online for a local finance broker who specialised in car finance etc and used him..we were upfront and tod him about IVA on our records still and he then sourced the right deal for us...we pick up our one year old Nissan Juke next week with monthly payments far less than woud have been under a leasing scheme.

Ok thanks for that, I will make some enquiries tomorrow and take it from there.

We were in the same position as you each month.... Massive amount of money now surplus but no one willing to let us take on car finance....for us it was a matter of resolving it...we didn't want to use our savings that are now tucked away for a emergency, and put aide £250 a month for a car payment....we have managed to get it for £212 a month!

Good luck finding finance or a lease.

I'm still in my IVA so my boyfriend is buying and I'm leasing from him at cost. This works out way less than leases for people with 'impaired' credit backgrounds.

I would feel better if it was all in my name though - I mean, what if I'm made redundant and can't pay the lease?!?! It all falls on him

Sorry mini-rant. x

not long after we completed our iva we tried car loans 4u ,they have strict rules for how much you must spend and the age of the car ,there customer services is poor ,around the same time another poster had a different experience with them .they didnt give me a good experience ,we did get loan but the rules were tough so ended up getting money from else where

applied to Moneybarn and got refused, so may have to look elsewhere, I think in hindsight we should have waited a few weeks until we received our completion certificate and defaults have been removed from credit file