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Why is my car loan taking so long to process?

Why is my car loan taking so long to process? I purchased a car at the dealership and the dealer said my financing was approved. However, it's been five days and the loan is still listed as "pending."

avatar
Eric Schad · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
“There are many reasons why your
new car loan
could be taking so long to process.
You might not have
brought all the paperwork
, you could be a borderline acceptance candidate, or your application could have fallen on a holiday.
There are many reasons why this might be delayed, but don’t stress. Until you have the final word, getting worked up about it is a fruitless venture.”
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