Motorbike Finance with an IVA

Motorbike Finance Options for Individuals with an IVA

Can you get Motorbike Finance if you are in an IVA? Well, the answer is Yes, it’s possible. Let the team at MotoFinance talk you through it.

Its important to understand that securing motorbike finance with an IVA has some challenges as it can be unique when comparing to traditional motorbike finance.

Free Eligibility Check

Firstly, as part of the finance being granted you will need to have had approval from your Insolvency Practitioner (IP). They will check your income and expenditure to see if you can afford the monthly repayments for the motorbike loan.

You don’t have to do this first however, as one thing the insolvency Practitioner may ask to see is a copy of the quotation, and you wouldn’t necessarily have this until you have started the process of making the application. So, the best place to start is to get the wheels in motion and visit here and you can complete our free eligibility checker so we can see what offers are available.

As your IVA will show up on your credit file, the lenders will see this. It is going to be a bit harder, as the lenders will view you as having Bad or Poor credit because of this, but don’t worry, we have lenders on our panel that specialise in these types of circumstances and can help.

The MotoFinance team are used to speaking to customers that are in active IVA’s or debt management plans, and as explained above, the fact that you are in this situation shouldn’t put you off making an application for Motorbike Finance whilst in an IVA.

The Bike Finance Experts

The MotoFinance team specialise in motor finance, and specifically motorbike finance. We know the industry inside out and are best placed to help you on your journey from a no obligation quote through to getting the keys and the bike on the road.

Get my finance quote now The Bike Finance Experts

Representative Example: Borrowing £4,500 over 48 months with a representative APR of 22.9%, the annual interest rate of 22.9% (Fixed), and a deposit of £0.00, the monthly payment would be £138.94. The total cost of credit would be £2,169.12, and the total amount payable would be £6,669.12.

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Motofinance is a trading style of Scott Hardy Ltd, which is authorised and regulated by the Financial Conduct Authority (FRN: 928906). Registered in England and Wales with Company Registration Number 12678451. The registered address is 4A Mottram Way, Macclesfield, Cheshire, SK10 2DH. Scott Hardy Ltd is also registered with the Information Commissioner's Office (Registration Number ZA773591). All finance is subject to status and income. We act as a credit broker not a lender. We work with a number of carefully selected credit providers who may be able to offer you finance for your purchase. We are not an independent financial advisor and we act as their agent for this introduction. We do not charge you a fee for our services. Whichever lender we introduce you to, we will receive commission from them (either a fixed fee or a fixed percentage of the amount you borrow). For your reassurance, all of the lenders we work with could pay commission at different rates, but the commission we receive does not influence the interest rate you will pay. Our aim is to secure finance for you at the lowest interest rate you are eligible for from our panel of lenders. We will inform you what the commission amount is in good time before the Finance agreement is executed. By continuing to use the site, you consent to the use of cookies. Further information on cookies and how to disable them can be found in our cookie policy.