IVA Car Lease

Car Finance After Individual Voluntary Agreement

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IVA Car Leasing Explained

An IVA is an agreement between you and the people / companies you owe money to. It creates a payment plan so that you can begin to pay off your debts at a rate you can afford. An IVA is only available in England and Wales. The equivalent of an IVA in Scotland is referred to as a Protected Trust Deed.

The facts about IVA’s

An IVA is a legally binding agreement. To be approved for an IVA, the people you owe money to have to be in agreement for you to enter into one or 75% of the value of the debt, however many people that involves, to make up the value.

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IVA Car Finance

If you have an IVA or had an IVA within the last 6 years you may wonder if you can get IVA car finance or finance after an IVA. At Compass Vehicle Services we have many customers leasing vehicles despite being affected by an IVA. Under the IVA a car usually comes under essential credit. This is because a vehicle is required to get you to work;  without it you could not get to work and thus earn money to pay off your debt.

If you are in an IVA you need to apply to us as normal however, at the point of enquiry it is best to mention you are in an IVA, so our advisers can give you further information. Once you have been approved, quotations for vehicles are then provided, and these will need to be then passed by your IVA practitioner. Your IVA Practitioner will have the final say on the amount you are able to spend on the lease vehicle per month.

Before you are able to enter into a contract with Compass Vehicle Services, you will need to provide written permission from your IVA practitioner showing they are happy for you to go ahead with the leasing contract

IVA Credit searches

It is always best to be honest if you have an IVA when applying for any sort of credit, as an IVA will show up on your credit history. However, at Compass Vehicle Services we look at **affordability** and **traceability** as our criteria, so you can be upfront and honest with us, as you know that we will lease to you if you are in an IVA or not.

We will also lease to customers who have CCJ’s and who have been bankrupt.


Please note we are not legal professionals, if you are looking into IVA then seek advice from a professional in that particular field.

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Leasing a car with an IVA

At CVS Ltd we specialise in working with customers who have had or have an IVA, offering fantastic deals on personal car leasing and business car leasing.  We can personalise bad credit car finance agreements to suit you: adjust your contract terms to have high mileage, low initial payments, no deposit, and adjust the length of the lease

Get in touch with us today to discuss your IVA car leasing options.

If you want to speed up the application process, then simply fill out our online secure application forms for either Personal Leasing or Business Leasing.  We will have an answer back to you within 2 working days, our application process is quick and straight forward.

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