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
Eric Schad
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.”

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