Can I decline a car loan for a Volkswagen Tiguan I was approved for?
"My boyfriend and I applied for a car loan on a 2018 Volkswagen Tiguan, but then we moved to an area with great public transportation.
Can we decline this car loan?"
Answer provided by
Answered on Jun 07, 2021
“Just give the lender a call and tell them the situation. This happens all the time, so they won’t mind.
Remember, though, that the hard inquiry on your credit will remain—for about a year—on your credit regardless of accepting or declining the loan. But don’t worry, it won’t have long-lasting effects on your credit score.”
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