IVA car finance

IVA car finance is a funding solution designed specifically for people with an Individual Voluntary Arrangement (IVA). An IVA is a legally binding agreement that helps you repay debts in a way that's affordable for you. 

We understand that if you're in an IVA, it might feel like traditional lenders are turning you away. But at First Response Finance, we're here to help you get the car you need, even if your credit history is less than perfect. 

We've been helping people with bad credit for more than 20 years, so you can trust us to guide you through the process. But don't just take our word for it - thousands of customers have given us a five-star rating on Review Centre, so you know you're in safe hands.

We offer Hire Purchase (HP) car finance for people with an IVA. Here's how it works:

1. You make a deposit on the car, and we lend you the rest of the money.
2. You repay the loan in weekly or monthly instalments over a fixed period.
3. You'll pay interest on those instalments, meaning the total repaid will be more than the original loan amount.
4. Once you've made all your payments, the vehicle is yours to keep.

Just so you know... depending on your credit limit and the car's price, you might not need to pay a deposit.

If you currently have an IVA, we're happy to help you explore car finance options. To move forward, we'll just need to make sure you have permission from your Insolvency Practitioner - we recommend getting this before submitting your application, so we can assist you smoothly through the process.

Jonathan, our Head of Sales and Marketing, has this to say: 

"It's typically easier to get car finance once your IVA is off your credit file - usually after six years. That's a long time to wait and might not be realistic if you need a car sooner.

"If your IVA was recent, it might be harder to get approved because lenders will look at your most recent financial history. We understand how frustrating it is to have past financial struggles holding you back, even when you're doing everything you can to move forward.

"That's why we do things differently. With us, you could still be eligible for car finance, no matter where you are on your financial journey. We're here to help find the right solution for you."

The cost can vary depending on a few factors, including the value of the car, the size of your deposit, and the length of your repayment term.

You can use our finance calculator to quickly get an idea of how much car finance on IVA could cost with us - plus, there's no obligation to apply.

We use Experian, one of the UK's top credit reference agencies, to run our credit checks. This helps us to understand your credit history, which is one of several factors we take into consideration when making a decision on your approval for vehicle finance.

We're dedicated to making car finance simple and accessible for IVA customers. Here are a few reasons you can trust us:

• We've helped more than 300,000 people secure vehicle finance 
• We've been named Best Car Finance Provider at the Consumer Credit Awards for five years running
• We've earned the Feefo Platinum Trusted Service Award for excellence in customer service in five out of the last six years

We’re authorised and regulated by the Financial Conduct Authority (FCA).

We're committed to treating customers fairly and giving clear, honest information so you can trust us to put your best interests first every step of the way!

We're SAF Approved by the Finance & Leasing Association (FLA), which means that all of our customer-facing employees have passed the Specialist Automotive Finance (SAF) Expert test. This ensures our team members have all the relevant knowledge to advise you on available finance products and help find the right one for you!