Car loan while in IVA?

Clairey_Wairey_2

My husbands had a company car but his employer now wishes to take the cars back and give employees a car allowance instead. In another situation. This would be great but we cannot get a lease or loan anywhere due to the IVA.
Can anyone suggest any way we might be able to get finance as we will be able to afford it as the company will give us the money but we're really stick as to where to go!

Ebe_Scrooge

Could you ask the employer if they'll give you a loan ? It's a long shot, but may be worth asking. They may be a little more willing to lend than a more traditional lender, especially as they could deduct the monthly repayments from your husband's salary directly.

anniecave

You'll also need to consider insurance (as I assume this would have been provided with the company car). The loan option could work well if he doesn't need a new car, he could buy an older car so the loan need not be for a long period of time. Alternatively your husband could ask if they could re-consider in this specific case - they may be keeping some company cars so if for example he had only a small vehicle (cheaper than the allowance would be) then they may be more likely to consider. Ask nicely and explain why.