does a banknormally check the references if they are thinking of approving someone? what i mean is i just found out the bank is checking on my personal references does that mean there is a good shot i could get the loan? i would think they would not even bother checking references if they are just going to deny me right??
2007-05-31 09:36:40 · 2 answers · asked by Anonymous in Business & Finance ➔ Credit
Wrong, they are checking your references for two reasons, the first is to see if you lied to them and the second is so they will have a way to find you if you don't make your car payments on time.
Actually them checking your references is a good sign. This means that they are thinking about it.
Auto finance is what I do for a living.
2007-05-31 09:42:45 · answer #1 · answered by ? 7 · 0⤊ 0⤋
They are checking your references in the event that you would stop paying, and or skip town. If the loan process is new than they want to make sure that they can always find out where you are. I would view this as a positive, you where not turned down, they are attempting to find out more of what kind of person you are. I would guess thumbs up and congradulations
2007-05-31 18:30:34 · answer #2 · answered by Pengy 7 · 0⤊ 0⤋