The dealer that I got my car from 3 days ago just called and said my loan was approved by the bank and I needed to come in and fill ut more paperwork for the bank that approved my loan. What does this mean?
2007-01-31 11:04:37 · 4 answers · asked by taushadoll 2 in Cars & Transportation ➔ Buying & Selling
JEANNE C is right about your needing to sign a contract for a different bank. One thing to watch out for is changes in the deal. Compare the rate, amount financed, number of payments, and amount of the payments on the new paperwork to the old contract. Make sure that they do not slip in a higher APR, longer term, or higher payment, If they try to do that, refuse to sign!!!
2007-01-31 11:45:21 · answer #1 · answered by fire4511 7 · 1⤊ 0⤋
Either you did not sign a contract when you first picked up the car, or a different bank approved your loan and you need to sign a different contract. Dealers do that all the time. If you already signed one contract, make sure you see them tear it up in front of you. That way you will be safe. I don't think they would try to send it in, because that would mean law suit city, but I would want to make sure the original one is destroyed. Congradulations on your new car!!!
2007-01-31 19:38:00 · answer #2 · answered by just me 6 · 0⤊ 0⤋
It means you got the loan and you need to go sign the papers. After you sign the papers you can take home the car!
2007-01-31 19:09:40 · answer #3 · answered by Sabina 5 · 0⤊ 0⤋
If you have bad credit - chances are that they were not able to get the terms you agreed on. They may need you to resign becuase the APR or term of the loan have changed.
If you have good credit - they probably just missed a signature somewhere on the original paperwork.
2007-02-01 18:37:52 · answer #4 · answered by Ann507 2 · 0⤊ 1⤋