www.iva.co.uk

IVA completed in May 2016 I now need a new car , I tried to lease a car with Seat and Skoda but I was rejected both times. I need to change my car to travel to work , any ideas ?


Regards
Paul

Hi Paul,

Unless it was a six year IVA then it will still be showing on your credit record so that may be the reason why.

Have you checked to make sure that any defaults are removed back to the start of the IVA?

Be wary of making too many applications for credit as this will go against you.

Is there a relative who could take out the finance for you and you pay them back?

As Kallis says, it is a bit too early to have a clear credit record and searches by the lease companies will add more red flags !

The only firm I know of who might entertain you at present is Moneybarn -- but you will pay significantly higher rates.

In the long run it would work out cheaper if you could hang on until you have a decent credit record.

Have a read here about clearing it up:

http://debtcamel.co.uk/repair-credit-record-iva/

Has it been 6 years since you started the IVA?

Have you come off the insolvency register yet?

http://www.insolvencydirect.bis.gov.uk/eiir/

You might find this quick video I made about cleaning up your credit record useful:

https://www.youtube.com/watch?v=PV4RzUY4BRM

Noddle and Clearscore are also free credit agencies to consider using:

https://www.noddle.co.uk/
https://www.clearscore.com/

Use a car leasing broker rather than direct with the car dealership. Tell them about the iva and they will source the right deal ... we did this with the iva on our records.
We used Carnoisseur Cars

http://www.carnoisseurleasing.com/