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In the middle of an IVA but need help re-financing cars
Jedi25
Posts: 3 Newbie
We are currently entering our third year of an IVA, which has been going ok, but come September and again in January, both myself and my wife's cars are liable for the final balloon payment.
The problem is, as we are under an IVA, finance is impossible or implausible.
Our plan is with PayPlan, who advised that we may seek finance to either change our cars or re-finance the final payment, but it must not be more than the monthly payments that we currently pay.
We tried a Hyundai dealer who was confident he could help in our situation, but in the end the APR of the finance was more like 40% which made even the basic car too expensive per month.
As I said my car is also coming up in January, so I'm looking for advice from anyone who has been in the same situation as we don't want to take out finance from companies offering finance to credit problem people only to find that PayPlan deems we are breaking our conditions and a whole heap of trouble comes our way!
I should say, we both work full-time and have no way round having to have two cars.
The problem is, as we are under an IVA, finance is impossible or implausible.
Our plan is with PayPlan, who advised that we may seek finance to either change our cars or re-finance the final payment, but it must not be more than the monthly payments that we currently pay.
We tried a Hyundai dealer who was confident he could help in our situation, but in the end the APR of the finance was more like 40% which made even the basic car too expensive per month.
As I said my car is also coming up in January, so I'm looking for advice from anyone who has been in the same situation as we don't want to take out finance from companies offering finance to credit problem people only to find that PayPlan deems we are breaking our conditions and a whole heap of trouble comes our way!
I should say, we both work full-time and have no way round having to have two cars.
0
Comments
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Sorry new in here, just noticed this should be in the IVA threads, so I'll post in there.
Not sure how to take this off from this thread.0
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