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."
Answer provided by
Answered on Jun 30, 2021
Eric Schad has been a freelance writer for nearly a decade, as well as an SEO specialist and editor for the past five years. Before getting behind the keyboard, he worked in the finance and music industries (the perfect combo). With a wide array of professional and personal experiences, he’s developed a knack for tone and branding across many different verticals. Away from the computer, Schad is a blues guitar shredder, crazed sports fan, and always down for a spontaneous trip anywhere around the globe.
“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.”
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.
Browse by topics
What others are asking
Does car insurance cover broken windshields?
My windshield got pretty smashed by some falling debris. Everyone in the car was okay, and only my windshield was damaged. Will insurance pay for that?
Mar 12, 2021
Do lenders impose limits on how much you can get for your first car loan?
I'm about to apply for my first car loan. As a first-time applicant, will I face borrowing limits?
Mar 08, 2021