"Can I refuse a dealer's car loan after getting approved? "

One dealer approved me on the spot for auto financing. I only signed a piece of paper saying that they could try to find financing for me, but I told them that I had to think about the offer. Another dealer has since offered a better deal. Am I locked into the first dealership's offer?

Answer provided by
Johnny Puckett
Answered on May 05, 2021
“As long as you didn’t sign for the approved loan, give the dealer a down payment, or take possession of the car, you are absolutely free to take the better deal.
Alternatively, you could go back to the dealer that approved you first and see if they will match or beat the new offer. A lot of the time, dealers will prefer to rework an agreement rather than lose the business. “

Did this answer help you?

Ask us a question by email and we will respond within a few days.

Have a different question?

You can meet us at our office and discuss the details of your question.

Easiest way to compare and buy car insurance

No long forms
No spam or unwanted phone calls
Quotes from top insurance companies