IVA and Cars don't mix!

tryinghard2010

Hi I wonder if anyone can help with some advice. I have one year left of my IVA to go and I desperately need to lease a car from the end of May. So far I've drawn a blank and there are so many companies that promise to be able to get you a leased vehicle even with credit history- but which one to go for????
Does anyone have any reputable companies and who are the best ones to go to that are legitimate?
Any advice would be welcome before I pull my hair out
Thanks

Charco_2

I'm assuming you're on a car lease now and it's up in May. You'll then have a balloon payment that you can't afford so you're returning the car and hoping to start all over again?

Max_1066

I've had exactly the same problem. I tried getting a lease car through my (Ltd) company however it was refused. The only thing that's changed is the IVA (and the wrecked credit history of course).

In hindsight I've have taken out a new 5 year lease agreement just before going into an IVA.

If anyone has a solution I'd also like to know.

Charco_2

Well these things are negotiable. Technically your IP should have had the foresight to make allowances for this when originally drafting your proposal.

How much is the balloon payment?

jojo2102

You might want to look at Duncton there on web you will need at least three payments down but they will help you....if you lease you will not need IP permission, hope this might help you or Bell Hire (long term car hire) again expensive but ctc is Gemma and she may be able to help. You can see there cars on websites these are physical cars.

jojo2102

Also I renegotiated my balloon yes a massive APR but once they saw agreement from IP of the allowance built in to monthly outgoings they went for it! That was Renault UK Finance been just where you are finished IVA yesterday scared now !!!! felt safe when I was in it !!!

Charco_2

Chin up Jojo, try sticking to the budget you had when you were in the IVA for a while... you can start saving the monthly contributions.

Well done!