Car loan with IVA

[bardos]

How am I meant to get a new (used) car when I'm in an IVA? My cars on its last legs and I require a car to work and get my children to and from school.

I made stupid financial decisions when I was younger and covid and maternity leave meant I couldn't afford to pay my debt hence the IVA.

Every time I do an eligibility check, I don't pass, but I can't afford to buy a new car outright.

Can anyone offer advice on where to turn to for help?

TIA

You need permission to take out more credit when you are already in an IVA OP.

You need to get permission to take out credit above a certain amount, you’ll need to prove you need a car and show how this can be afforded as well as sticking to your IVA payments, get all your info together before calling up to make it easier as they may do a review with you. Once this has been done there are companies that help with finance with an active IVA on your file. They are more expensive and will possibly ask for proof you have permission to take additional finance out.