Question:

I need a low rate car loan whilst in an IVA, can you help?

I need a low rate car loan whilst in an IVA, can you help?

- Billie

Billie Porter

Answer:

Hi Billie, thank you for using our FAQ's page. The fact that you're currently in an IVA shouldn't prevent you from obtaining a low rate car loan, although the final decision would be made by one of our lending partners.

The decision would be based on you're personal circumstances and you're actual ability to make monthly repayments. Please submit an application and we'll take it from there.

finance manager
This question was answered by

Sasha McCormack

Related question:

Reply to Billie

We have an IVA but need a car, can you help please?

- Sharon Bozier

Sharon Bozier

Answer:

Hi Sharon, this is definitely something we can help with.

At Stoneacre, we work with credit specialist lenders who will consider someone who is currently in an IVA and the only thing they ask for upfront is permission from your IVA company that they are okay to lend. Hope this information helps.

finance manager
This question was answered by

Sasha McCormack

Related question:

Reply from Judith Hatton

I'm currently on an IVA plan, I'm in full time employment, but can't get car finance. I've tried to look at my credit score but couldn't get a result. The only credit I've ever had is a catalogue a few year ago. Could this be affecting me?

- Judith Hatton

Judith Hatton

Answer:

An IVA does affect your chances of getting credit, but not to worry, at Stoneacre we work with credit specialist lenders who will consider someone who is currently in an IVA, the only thing they ask for upfront is permission from your IVA company that they are okay to lend. Hope this information helps.

finance manager
This question was answered by

Sasha McCormack

Related question:

Reply from James Picker

Hi, I am currently coming towards the end of an IVA, but would I still be able to get a car on finance if my partner is on the application? She has a really good credit score. Thank you

- James Picker

James Picker

Answer:

Hi James, as long as the IVA company has given you permission to lend (some lenders need this in writing) then you would completely be allowed to apply with or without your partner.

finance manager
This question was answered by

Sasha McCormack

Related question:

Can I get low rate finance if I am on a IVA?

Hi, I am looking at getting some car finance at a low rate but am in an IVA.

I have £2,500 car finance left on my car and am hoping to sell my car for around £7,500. This would leave me with a £5,000 deposit for a new car and I would be looking to borrow £2,500 - £3,000 to put towards another car.

Is this at all possible?

I have spoken with my IVA company and they are happy for me to do this so long as the finance is approx £90 a month and finishes in just under 3 years time.

I hope this makes sense.

Kind regards,

- Mandy

Mandy Bridge

Answer:

Hi Mandy, That's not a problem I'm sure that is something we can help with!

The rate of interest and the monthly repayment does depend on the lender we get you approved with.

Some lenders may ask for proof of what your IVA company have confirmed if you have this in writing before applying then this can speed the process up for you, don't worry if not!

If you would like us to see what we can get in place for you please do get in touch on 01405 744186.

finance manager
This question was answered by

Sasha McCormack

Related question:

Reply from Michael Hall

I've been in an IVA for nearly two years. I need to purchase a newer car than I one I have so I can continue to work.

I've been advised by Johnson Geddes whom I have the IVA with that they would provide a letter telling of my needs.

- Michael Hall

Michael Hall

Answer:

Hi Michael,

If your IVA company have provided that letter stating you are ok to get finance then this is completely fine, please submit an application or give us a call on 01405 744186 if you would like to apply for finance with Stoneacre.

finance manager
This question was answered by

Sasha McCormack

Related question:

Can I exchange for a smaller car if I am in a IVA

Spoke to someone about finance at my IVA company, they say they need to look at figures from a finance company then agree to letting me re finance on my IVA plan as I already have finance in place but would like to part ex my car for a smaller one. I have seen a vehicle on your web site.

- Leonie Gallagher

Leonie Gallagher

Answer:

Hi Leonie,

That's absolutely fine.

We work with customers in IVAs on a daily basis and most ask for written quotations before considering. What we normally do is call you to discuss your application, once we have obtained you a line of credit, we would book you an appointment into your local Stoneacre branch to test drive cars and pick one you like. Once chosen, the branch will be able to provide you with a written quotation for you to send over to your IVA company.

If this sounds ok to you then please submit an application and we can get the ball rolling for you.

finance manager
This question was answered by

Sasha McCormack

Related question:

If I am in my first year of an IVA, can I get finance?

I'm in my first year of an IVA but in need of a car. My car is worth £200 but it's not going to pass my MOT coming up and there is a lot wrong with it, can you help me? I'm looking at getting £2,800 on finance.

- Corinne Brett

Corinne Brett

Answer:

Hi Corinne, that's not a problem. We can look to help even though you are in an IVA, the only thing our lenders will ask for before processing an application, is permission from your IVA company that they are happy for you to apply/get car finance.

finance manager
This question was answered by

Sasha McCormack

Related question:

Sara Question

Hello. I am currently in an IVA and cannot get car finance anywhere, can you help please? :)

- Sara

Sara

Answer:

Hi Sara, we have lenders that are more than happy to look at customers within an IVA so I'm confident this is something we can help with.

The only thing the lenders will ask before we process an application is do you have permission from your IVA company to get car finance, as it is a legal agreement you do have to have their permission before you can take out more finance.

Hope this info helps, if you do have permission then please do get in touch and we can process an application for you.

finance manager
This question was answered by

Sasha McCormack

Related question:

Samantha Hardy Question

I've just started an IVA but my last old car had to be scrapped. I still had the car when I first applied for the IVA, so car insurance was already included in my budget as well as tax and repairs and MOT.

Would I be able to purchase a car from you? I'm wanting one for about 3k? Is this something you can do?

- Samantha Hardy

Samantha Hardy

Answer:

Hi Samantha,

Thank you for the question, we have lenders that would look at your application whilst in an IVA. The lenders do ask before applying though that you have permission from your IVA company to apply for finance.

If your IVA company have said it's ok then please do submit an application and we will do our best to help.

finance manager
This question was answered by

Sasha McCormack

Related question:

Reply from Stuart

Hi I got my car from Stoneacre in Thirsk on finance. I'm after a new one but I've been in an IVA for 3 years now. I have 18 months finance left to pay. What do you think my chances are of getting finance again with yourselves and part exchanging my car.

- Stuart

Stuart

Answer:

Hi Stuart,

there is no reason why we cannot help with you being in an IVA. The only thing the lenders would ask before we were to process another application for you is do you have permission from your IVA to apply for finance and get a new car. So long as they say yes, we could process an application for you.

finance manager
This question was answered by

Sasha McCormack

Related question:

Will you add my outstanding finance to a new car finance agreement?

I am on an IVA. I have a car with about £2,750 to pay off finance... are you able to pay this off and add to a new finance package?

- Nigel Ellison

Nigel Ellison

Answer:

Hi Nigel,

If your IVA have given you permission to apply for finance, then this is definitely something we can look into for you. It does completely depend on the approval though as to whether we can cover all of the outstanding finance.

finance manager
This question was answered by

Sasha McCormack

Related question:

If I am in a IVA, can I still get finance?

Am in IVA, can I get finance?

- Mark

Mark

Answer:

Hi Mark, this is definitely something we can help with. We work with lenders that accept customers in IVAs, the only thing they do ask before applying is that you have permission from your IVA company to apply for finance.

finance manager
This question was answered by

Sasha McCormack

Related question:

Can I PX my current car if I am in a IVA?

I'm on an IVA for a year, current car on finance not included in IVA, can I part exchange and get a car on finance?

- Jacqueline Harris

Jacqueline Harris

Answer:

Hi Jacqueline,

This is definitely something we can help with, the only thing the lenders would ask before considering your application is has your IVA company given you permission to apply and obtain car finance? If they have then please do get in touch, we would love to help :-)

finance manager
This question was answered by

Sasha McCormack

Related question:

If I left my IVA, could I get cheaper finance?

I have a car from yourself I got it in January this year it’s financed through 1stop. I’m currently in an Iva and the finance on this car is really high. If I pulled out of the Iva would I be able to exchange my bmw for a cheaper car and be able to re finance it

Adel

Answer:

Hi Adel, if you were to terminate your IVA, this would still be visible to the lenders and can affect your chances of being accepted. If you would like to discuss this further please give us a call on 01405 744 186.

finance manager
This question was answered by

Sasha McCormack

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