I will not be allowed car finance until IVA is closed which can take up to 6 months. Need a car now.

[Lisad2359]

we have just completed our 5years on our IVA, our last payment was June this year. when I have contacted them they have advised me that all meetings have taken place and it is awaiting to be closed then certificate can be issued. does this mean they will not extend the term of the IVA? Also I have been looking into a new car as desperately need and have been trying to hold off until the IVA had finised. Problem now is that unless IVA is closed finance wont except unless IVA agrees for us to get loan. I understand to an extent as IVA isn't closed but everything has been done as far as I'm aware. I have spoken to customer services who tell me a)it can take up to 6 months to get IVA closed and b)they will not allow finance for car. She wasn't very helpful to be honest but is this correct?? we need car for work and I'm really at a loss as to what is and isn't correct. your advice would be much appreciated

thanks

[luluj]

You could try a company called Moneybarn or Cars4u ...both do finance for people with bad credit.
Your IP should be in a position to approve a vehicle through these providers or others especially if you have completed payments and waiting certificate

[hugandkiss]

I am in the same situation with Grant Thornton.
I have spoken to them and they are not willing to approve finance through suggested firms - interest too high they state.
They did say they would consider again if I received quotes from a garage stating that my car would cost more to fix than it is worth.
They did suggest strongly that I must try to wait until completion certificate comes through.
(I still have one payment left and will be trying again once that has been made but this conversation took place 2 weeks ago)