www.iva.co.uk

My missus and I have just made out last payment 2 weeks ago and have been told verbally that our IVA is complete, just waiting for certificate. We are desperate for a new car and want to ask if any car finance companies would be willing to help us. We were paying £1700 a month into our IVA so have plenty of spare money each month now to meet repayments, any advice would be greatly appreciated>

Depending who your with your certificate can take up to 6 months (this has been longer recently due to the VAT and PPI issues)

If it is six years since your IVA commenced you may be able to get mainstream credit and your IP is unlikely to object. however, if it is less than six years your credit file will be damaged so you could either save for a runaround or there are some specialist car lenders that others may post about.

Cars4u and Moneybarn are two finance companies that support applications from people with bad credit - but these are at an interet premium !

We used a leasing company recently, and although we could not be accepted for leasing, we were able to fund a one year old vehicle via one of their finance dealers that is not quite as high in interest as others mentioned....they act as a broker.

Congratulations!!!

you could save your IVA payments for a couple of months and buy a car outright rather than pay high rates of interest.

Well done. I agree with BoL -- you'll get more car for your money without having ti lose a chunk to interest (which will be at a high rate for a fair while post IVA).

I've answered this on your other post - but in case you don't see it I have recently come across a great lender for car finance who will even consider people in existing IVAs. E-mail me if you would like further details.

Melanie, would they consider joining the forum to assist posters without impacting into your already busy lifestyle?