Car finance and DMP

lorzo

I'm am dealing with Payplan and have a DMP set up with them.

I currently have finance for my car with Peugeot. This payment goes out by direct debit each month and by the terms of a 3 year deal is due to end next April/May.

Recently I was contacted by the Peugeot dealer who wanted to offer me a new 3 year deal on a new car. At the time I suggested it may not be feasible, but asked her to explore it anyway. She called me to confirm this morning that after a credit check, Peugeot Finance had refused me further finance. Though this came as no surprise it was useful to have it confirmed.

Basically I'm asking advice on this basis;

My 3 year deal is up with Peugeot next year. I don't have any savings or way of paying off the outstanding balance so is there a way in which I can persuade them to re-finance on my car or is it possible to include it in my DMP in some way?

Advice welcome! L :rotfl:

36square

What is a DMP?

leftieM

DMP = Debt management plan.
OP, put your question on the Individual Voluntary Arrangement board. You're more likely to get a response.