Whether you’re already in an IVA or considering arranging one, you may be wondering how it could affect your car finance application. Our quick guide can help.
What is an IVA?
IVA stands for Individual Voluntary Agreement. It is a legally binding arrangement between you and your creditors to pay back your debts. This means it’s recognised by the court and your finance partners have to adhere to it.
It’s meant for people who can manage to pay something towards their debts, but can’t keep up with the repayment amounts their creditors are demanding.
Can I get car finance with an IVA?
A common question our customers often ask is how being in an IVA might affect their chances of buying a car on finance.
An IVA does limit your choices somewhat, is it still possible to get Car Finance. An IVA will affect your credit score. But just because you have poor credit, doesn’t mean you don’t have options.
Whilst we can’t guarantee that we can help, our panel of finance partners can assist those with a variety of credit histories – including those who are in an IVA.
How Does an IVA Work?
An IVA is set up and run by a qualified Insolvency Practitioner (IP). They will put together the repayment plan (including how much is paid each month, and for how long), and act as the go-between an individual and their creditors, to check they agree with the set monthly outlay.
As long as 75% of the creditors give the go-ahead to the IP’s proposal, the IVA will go ahead. Monthly repayments will then be given to the IP, who will split the funds between the creditors.
IVAs are available to those in England, Wales and Northern Ireland, but not in Scotland.
If you are interested in finding out more, fill out our simple, no-obligation form today to see how much you can borrow today.
How to ensure you stay safe on the roads this winter
Now that the nights are starting to draw in, you’ll probably find yourself driving in the dark more regularly. Here are our top tips for preparing yourself for the winter months ahead and ensure you stay safe on the road.
Check your lights work
Whilst this one may seem obvious, it’s still important that you check them regularly. Don’t forget to check your brake lights, fog lights and indicators at the same time.
Keep a safe distance between you and the car in front
Keeping a safe distance between you and the driver in front should help you avoid collisions. If the driver in front has to stop suddenly, it will give you enough time to react.
Check the treads on your tyres regularly
During the winter months, it’s a good idea to regularly check that your tyres are up to the job. If your tyres are overworn, they could be unsafe or even illegal on UK roads.
The minimum tyre depth on UK roads is 1.6 mm. To check your tyres are legal, we would recommend you use the 20p tyre test. The outer rim of a standard UK 20p coin is just under 3mm wide. To do the test, place the 20p icon into the groove of your tyre’s tread. If the outer rim of the coin is covered, your tyres are easily above the UK minimum tread depth. If you can see the rim of the coin, it’s time to get them checked properly using a tyre tread depth gauge.
Keep an eye out for speed signs
Street signs can be easily missed during nighttime hours. Remember to stick to the speed limits to stay safe.
Keep your windscreen clean
Make sure your windscreen and all other windows are regularly cleaned, inside and out. Dirty windows can increase glare and condensation when driving.
Take your time
Driving at night is generally riskier than day driving. Therefore, it makes sense to slow down and give yourself more time to get to your destination.
When shopping around for the best Car Finance deals, it’s only natural to worry about what effect it might have on your credit score. Many customers like yourself often check if they can get car finance before they proceed, or have even found a car that they want to buy.
At Motorly, we make the process simple, by allowing you to check if you can get approved before you formally take out car finance. By conducting a ‘soft search’ credit check at the start of your application, you can see what your options are without negatively affecting your credit report.
What is a Soft Search?
A ‘soft search’ is a simple credit check that allows us to see your financial history without showing this information to potential finance partners.
How does Soft Search Car Finance Work?
It’s easy to get a quick quote with Motorly. By completing the quick application form we’ll be able to give you an idea of your monthly payments what you can borrow, based on your current financial position.
The process only takes a couple of minutes and you will be given a decision straight away.
No impact on credit score
Because we only conduct a Soft Search, it will not impact your credit score, even if you decide to not proceed. It also won’t affect your future ability to get finance.
The Nissan Qashqai has been one of the most popular cars on the market since its launch back in 2007. Offering both style and practicality, the Nissan Qashqai is a great choice for anyone who is looking for a great family car.
By offering SUV styling but with the fuel economy of a family Hatchback, the versatile Qashqai gave traditional family cars such as the Ford Focus or Volkswagen Golf a run for their money.
The latest generation (MK2) was launched in 2014. Due to their practicality and reliability, you should easily be able to find a used model to suit most budgets with ease.
What are they like to drive?
Whilst the exterior is all SUV, the Nissan Qashqaihandles more look your traditional hatchback. The steering is responsive and handles corners with ease. Plus, due to its compact size, parking is a doddle.
Qashqai’s practicality and family-focused credentials are backed up by a top Euro NCAP crash test rating.
What engine should I go for?
If you plan on doing a lot of driving in your Qashqai, we’d strongly recommend that you go for one of the Diesel options available. The 1.5-litre unit is responsive to drive and can get you up to 70mpg – practically unheard of in an SUV.
If you don’t plan on doing a lot of miles, the 1.2-litre Petrol model will get you up to 48 MPG. You can expect a refined, smooth drive from this model.
What issues should I be aware of when buying a Nissan Qashqai
If reliability is a key factor for you, the Qashqai could be the car for you. Most of the key components found in the car have been tried and tested over the years with few faults, meaning you should get years of top, reliable use.
A few owners have reported the car’s rear shock absorbers breaking. Other drivers have reported issues with the engine’s turbo. We’d recommend that before buying any used car that you take it for a test drive to look for these issues.
Want to find out more about getting approved for a new Nissan Qashqai? Check out the Motorly Used Nissan Car Finance Page.
Struggling to get Car Finance? Looking for an alternative solution?
If you have not been able to get car finance in the past because of bad credit history, your options to get a new car can be limited. Larger finance partners can be unwilling to offer finance solutions for those with a poor credit history. However, you still have options.
What exactly is Black Box Car Finance?
Black Box Car Finance, sometimes referred to as ‘Pay as you Go Car Finance’, is a solution for drivers who would struggle to otherwise get behind the wheels of a new car.
A small box is discreetly fitted into the car by a qualified technician. As long as you keep up the payments on your car you will get full access to drive it.
Near the end of each month, you’ll be reminded that your payment is due. Once your payment has been made, you will be sent the activation code. This can be entered into the box and will grant you full access to drive the car for the month.
When you get to the end of your payment agreement, the black box will be removed. The ownership of the car will be transferred to you (assuming all payments have been made).
What happens if I miss a payment?
Should you miss a payment, you will not receive your activation code and you will not be able to drive the car. However, most finance partners will allow up to 30 days to sort out your payment and will keep the car running in the meantime.
If you still fail to make your payments after that, the car will be deactivated remotely and you will not be able to drive the car.
What are the advantages?
By getting a black box installed, finance partners will be more prepared to provide finance to those with a poor credit history. Because of this, it decreases car finance costs.
It is a viable financial option for those with poor credit scores and can make it easier to get approved.
At Motorly, we aim to help as many people as we can, even if their history isn’t perfect. Box Car Finance offers can help people like you finance their next car
The car, recently listed online, was available for all proud Mancunians for just £790.
Do you love Manchester United more than any of your friends? Do you want to show your mates how committed you are to the Reds? Then we’ve got the car for you!
Listed on the Trade Cars Cleckheaton website, the Mazda 323F is absolutely covered in imagery from the famous Manchester club.
At just £790, it’s certainly cheaper than getting a tattoo sleeve.
UK Drivers have been warned about a scam text message circulating that could give crooks access to their bank accounts in minutes.
Phishing scams trick innocent victims into giving over personal details such as bank information, often by sending text messages claiming to be from a legitimate company or business.
This simple scam could deceive victims into losing thousands of pounds within just a few minutes.
The messages usually claim either that a motorist has overpaid their car tax and is due to a refund, or that there has been an issue with a tax payment, and they need to log into the fraudulent website to update their details.
Last year, there was a huge increase in the number of motorists reporting suspected fraud to the DVLA. In the three months to September 2020, the agency saw a 603% increase in reported cases compared with the same period a year previously.
What to do if you’ve been targeted by a phishing scam?
Suspicious text messages can be forwarded free of charge to your network provider on 7726. You can also report it to Action Fraud or the police if you think you have fallen victim to such a scam.
The Society of Motor Manufacturers and Traders (SMMT) has revealed the top ten best-selling cars in the UK for 2021 so far.
The Vauxhall Corsa is currently riding high in 1st first place, with the Evergreen Ford Fiesta (top-selling car for the last three years), a close second.
Here are the top 10 best-selling vehicles in the UK in 2021 so far, according to figures from the SMMT.
Thinking of buying a dashcam but not sure which one to get, or even where to start? Our dashcam buyer’s guide includes everything you need to know.
What is a dashcam?
A dashcam (short for dashboard camera) is a small camera that records what’s happening on the road in front of you (or behind, depending on the model). Dashcams can offer drivers peace of mind on the road, safe in the knowledge that police and insurers can find out precisely what happened in the event of a crash.
A good dashcam or dashboard camera is able to record high-quality video footage to help prove what happened in the event of a crash, or protect you from false claims.
What types of Dashcam are available?
The two types of dashcams available on the market are forward-facing and front-and-rear. A forward-facing dashboard camera records the road ahead only. A front and rear dash cam is a multiple-lens system that offers both forward-facing and rear-windscreen cameras to record what is happening both in front and behind you.
What are the benefits of having a dashcam?
The best benefit of installing a dashcam is having evidence that can be used to prove that you aren’t at fault if your car is involved in a collision or accident. Your dashcam footage could be used by the police or insurers to evaluate precisely what has happened, potentially assisting you to avoid any issues with insurance claims or legal matters. Some models of dashcam also include a parking mode, meaning that any collisions that happen when you aren’t in the vehicle are still recorded.
Does the resolution of the footage matter?
All dash cams support at least HD resolution (1,280 x 720 pixels to be precise) but it’s more common for dash cams to record in Full HD ( that’s 1,920 x 1,080 pixels). Some newer models can record up to 4K (3,840 x 2,160 pixels).
A higher resolution doesn’t always mean better quality. If you can, look for example footage online of the model you are thinking of buying before you purchase.
Other features to consider
Not every feature offered with some Dashcams are essential, but some can make using your dashcam easier. Here are a few features to look for:
G-force sensors: This means that the camera will automatically save moments of high G-force, generally during a collision. This means the footage – which is recorded on a loop – will be protected from getting overwritten.
GPS: This allows you to pinpoint your exact location at the time of the collision. It will also show the route you were on and your speed. This could be helpful for building up a picture of precisely what occurred in a crash.
Parking mode: This means that your dashboard camera will automatically begin recording if it detects a collision or impact while you’re parked. Useful for finding out who bumped your car in a busy car park.
Wi-Fi: Wi-Fi lets you send the footage wirelessly from the camera to your device, meaning you don’t have to remove it and take it inside.
