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We are a credit broker, not a lender.Rates from 9.9% APR: the exact rate you will be offered will be based on your circumstances, subject to status. Representative example: borrowing £7,000 over 5 years with a representative APR of 21.9%, the annual interest rate of 21.9% (Fixed) and a deposit of £0, the amount payable would be £185.33 per month, with a total cost of credit of£4,119.81 and a total amount payable of £11,119.81. We look to find the best rate from our panel of lenders and will offer you the best deal that you're eligible for. We receive a fixed fee commission per finance agreement, or we receive a commission based on a percentage of the total amount of finance taken. This will not affect the interest rate offered or the total amount repayable. Our service is free.
Exploring car finance options with an IVA? We specialise in supporting people with low credit ratings, including those with IVAs, to get the car they need. Choose from flexible options like hire purchase, which lets you own the car over time, or personal contract purchase, with lower monthly payments. We work with specialist lenders who understand your financial circumstances, so you’re supported every step of the way.
How it works?
Apply for your loan
To apply for your car finance to borrow money, decide on the amount you need and the loan term. Our lenders will assess your application and provide feedback promptly.
Apply nowReceive the money
If your application is approved, and you get a car finance quote, the funds will be deposited into your account the same day. Use the money towards your car purchase or other expenses.
Pay it back over time
Repay the loan through manageable monthly payments over 1 to 5 years, covering the borrowed amount and interest. Start your application now to access the finance you need for your next car or personal requirements. Apply today for a swift and straightforward process.
Our Lenders
We work with over 15 lenders offering 100+ HP and PCP deals so that you could have the best offer.
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Check finance eligibilityWon't affect your credit score
We are a credit broker not a lenderThese estimates are subject to credit checks, and may change if you do apply for finance.
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| Loan amount | £7,500.00 |
|---|---|
| Length of Loan | 60 months |
| Monthly payment | £0 |
| Interest rate | 14.9% APR |
| Optional final payment | £0 |
| Amount of interest | £0 |
| Total payment | £0 |
Rates from 9.9% APR: the exact rate you will be offered will be based on your circumstances, subject to status.Representative example: borrowing £7,000 over 5 years with a representative APR of 21.9%, the annual interest rate of 21.9% (Fixed) and a deposit of £0, the amount payable would be £185.33 per month, with a total cost of credit of£4,119.81 and a total amount payable of £11,119.81. We look to find the best rate from our panel of lenders and will offer you the best deal that you're eligible for. We receive a fixed fee commission per finance agreement, or we receive a commission based on a percentage of the total amount of finance taken. This will not affect the interest rate offered or the total amount repayable. Our service is free.
What is an IVA?
An Individual Voluntary Agreement (IVA) is a formal debt arrangement between you and your creditors, managed by a licensed insolvency practitioner. It’s designed to help you repay what you owe through affordable monthly payments, typically over five to six years. With an IVA, interest and charges often freeze, and any remaining debt may be written off at the end of the term. This option offers a structured path to avoid bankruptcy and regain financial stability.
Can you get car finance with an IVA on your credit file?
Yes, you can secure car finance with an IVA. Traditional lenders may hesitate due to your credit history, but specialist lenders like Moneyrepublic understand these situations and offer tailored finance options. With the right support, getting car finance with an IVA is possible. Working with these specialists boosts your chances and moves you closer to driving the car you need.
What do you need to apply for an IVA car finance
| To apply for car finance you need to | Requirements |
|---|---|
| Your name | Be aged 18-75 years old |
| Date of birth and nationality | Requires initial deposit |
| Your recent address history | Receive a monthly income of £1,000 or above |
| Tour employment status | |
| Your income and expenses | |
What car finance options are available to me during my IVA?
Hire Purchase car finance with an IVA
If you’re considering car finance with an IVA, Hire Purchase (HP) could be a good option. With HP, you pay fixed monthly instalments over a set period, usually one to five years. This spreads out the car’s cost, making payments more manageable. Once you’ve made the final payment, the car is yours—a big benefit if you have an IVA. HP offers a clear and straightforward path to car ownership that suits your financial situation. Moneyrepublic specialises in setting up HP agreements for customers with IVAs, making the application process easy and accessible.
Personal Contract Purchase car finance with an IVA
PCP lets you make lower monthly payments because they’re based on how much the car’s value decreases over the contract. At the end of the term, you have two choices: make a final payment to own the car, or return it and consider a new model. However, PCP lenders often check credit histories carefully, so getting approved with an IVA can be harder. Waiting until your IVA is finished may improve your chances. PCP can offer flexibility, but it’s important to make sure this option fits your budget before you commit.
IVA car finance eligibility criteria
| To apply for car finance you need to | Requirements |
|---|---|
| Your name | Be aged 18-75 years old |
| Date of birth and nationality | Requires initial deposit |
| Your recent address history | Receive a monthly income of £1,000 or above |
| Tour employment status | |
| Your income and expenses | |
Will I actually know if I have an IVA?
Yes, you’ll be fully aware if you have an IVA. Setting up an IVA requires your active involvement with an Insolvency Practitioner, who will explain all terms, including any limits on payments or finance options. Keeping track of your financial commitments is essential to staying on track with your IVA.
Can I get IVA car finance if I am self-employed?
Yes, self-employed people can get car finance with an IVA, but lenders will take a closer look at your finances. They’ll check how stable your business is and if you can make regular payments. Support from your insolvency practitioner and showing how the car helps you earn an income can improve your chances.
Can I apply for joint or guarantor car finance if I have an IVA?
Yes, if your IVA makes car finance hard to get, joint or guarantor finance could be options. With joint finance, you and another person apply together, and their good credit and steady income can improve your chances. In guarantor finance, someone else, usually a family member or friend with good credit, agrees to make payments if you can’t. Both options offer extra support to help you get car finance with an IVA.
Why choose us?
Get your car finance online
Get car finance options with no impact on your credit score.
Buy a car from any dealer
Once approved, collect or get your car delivered to you.
Car finance quality assured
We’ll do a thorough vehicle HPI, full-service history and MOT check. Buy with confidence.
FAQ's
- Will an IVA impact my credit score?Yes, an IVA will show on your credit report and lower your score. How much it drops depends on how well you keep up with payments. Paying on time can help improve your score over time, but an IVA can make it harder to get car finance. At Moneyrepublic, our lenders use a “soft search” to check your credit history without affecting your score, letting you explore finance options safely.
- Can I get car finance with an IVA?Yes, getting car finance with an IVA is possible, though it’s challenging. You’ll need to work with specialist lenders who understand your situation and can offer options that fit your budget. Approval depends on your current financial stability and, sometimes, your insolvency practitioner’s approval.
- Is my car safe in an IVA?Your car can be protected in an IVA if it’s essential for work or family needs and if payments fit within your IVA budget. Talk with your insolvency practitioner, who can guide you based on your agreement and finances..
- Does an IVA show on a credit check?Yes, an IVA appears on your credit report and is visible to lenders. It stays on your file for up to six years from the start date, which may affect your ability to get new credit, including car finance.