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2 Bumps

how long does auto approval/denail take?

we found a car yesterday ,applied for the loan and its 24hr later and the dealership still hasnt heard from the bank. just wanna know if its a yes or no.i hate waiting!!!!!

Answer Question
 
mayo9mommy

Asked by mayo9mommy at 7:13 PM on Sep. 28, 2010 in Money & Work

Level 11 (508 Credits)
Answers (5)
  • It takes minutes. Have the dealership call the bank, I used to be a loan officer... banks are screaming for good deals right now.
    Mommy2Gabrielle

    Answer by Mommy2Gabrielle at 7:36 PM on Sep. 28, 2010

  • Minutes. Just bought a new car and it took an hour simply b/c it was saturday. :)
    Mom2Just1

    Answer by Mom2Just1 at 9:52 PM on Sep. 28, 2010

  • Should only take a few minutes, never heard of any longer.
    Indyk

    Answer by Indyk at 11:12 PM on Sep. 28, 2010

  • Should only take acouple of minutes.
    jennbelcheravon

    Answer by jennbelcheravon at 11:14 PM on Sep. 28, 2010

  • Normally it takes just a few minutes. If they are shopping the loan for the best rate, or trying to find a company that will accept you, it could take a day or two. I'd call them and ask what the status is.
    Scuba

    Answer by Scuba at 9:11 AM on Sep. 29, 2010

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