PriceProtect™
DriveShield™
GarageGuard™
Services
Insurance
Car Insurance
Compare Car Insurance with Jerry
Jerry’s Expert Advice
Car Insurance Estimates
Home & Renters Insurance
Renters Insurance
Loans
Car Loan
Compare Car Loans with Jerry
Jerry's Expert Advice
Car Loan Guides
Repairs
Car Repair Estimates
Repair Estimates for Popular Services
Advice
Read Car Content
Browse Jerry Car Advice
Check Out Expert Car QnA
Learn About How We Create Content
Jerry Data & Research
What happens if my car dealer lied on an application to get my loan approved?
I financed a car with Wells Fargo through a dealership. About a week after signing the paperwork, Wells Fargo called and says they must reject the loan because my pay stubs didn't line up with what was on the application. I never lied about my income, which means the dealer fudged the numbers. What happens next?
Eric Schad · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
“Unfortunately, dealers consistently fudge numbers to get loan approval. Most of the time, however, lenders don’t catch it.
Since Wells Fargo caught the discrepancy and is denying the loan, the
dealership
will continue to shop your information around until they find another lender. In the meantime, go to your bank or credit union and see what rate they can offer you. This might be the better avenue to pursue than waiting for a dealer who may use unsavory business practices.
Don’t forget that when you buy a new vehicle, you will need proper coverage. If you haven’t already found insurance, use the free
Jerry
app to help you find the best deal. Jerry compares rates from the top 50 companies in under a minute, delivering the best deals to your phone.”View full answer
- Gregory R.
WHY YOU CAN TRUST JERRY
Jerry partners with more than 50 insurance companies, but our content is independently researched, written, and fact-checked by our team of editors and agents. We aren’t paid for reviews or other content.
Join 4M+ members in lowering their car insurance
You Might Also Be Interested
.webp&w=384&q=75)
Read Advice From Car Experts At Jerry
What Others Are Asking
Browse More Content
Insurance for Your Car
Insurance in Your State
Easiest way to compare and buy car insurance
No long forms
No spam or unwanted phone calls
Quotes from top insurance companies
