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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 Porter

Answer from the Stoneacre finance team:

Hi Billie, thank you for your question. 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.

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Related questions

Car finance with an IVA?

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

Sharon Bozier

Answer from the Stoneacre finance team:

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.

Can I get finance whilst on an IVA plan?

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

Answer from the Stoneacre finance team:

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.

Get finance on a joint application with an IVA?

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

Answer from the Stoneacre finance team:

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.

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.

Mandy Bridge

Answer from the Stoneacre finance team:

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.

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