Why the heck does it take so long to get approved for an auto loan?
Melyn - 2009-02-04 09:31:48 - Buying Selling
I must admit, the wait is exciting, but frustrating, wondering, etc. Full of anxiety. I contacted the dealer when in return, he told me to go to the website and fill out an application and he would look it up immediately. It's been 2.5 hours. Why the wait?
Best Answer:
2.5 hours is a long time????????????
It sometimes takes days or weeks, especially when you have poor credit and the dealer must shop your loan around to multiple banks and lenders.
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Answer:
Pete H - 2009-02-04 09:36:58
2.5 hours is a long time????????????
It sometimes takes days or weeks, especially when you have poor credit and the dealer must shop your loan around to multiple banks and lenders.
magypsy - 2009-02-04 09:42:47
If you have good credit, lt can take 15 to 20 minutes. At least that's how long it took me for the last two autos that I bought. I wouldn't do anything on-line, especially giving out your personal info. Go to the dealer if you can.
alfredb1979 - 2009-02-04 10:02:15
You already know your credit score (because you already checked beforehand) and know what you can afford to buy without looking like a bad lending risk.
What is the problem here?
