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Old 08-16-2004, 01:21 PM   #1
MattDell
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Default How long did it take for your financing to get approved?

I last talked with the dealership and the credit union at 9AM and I've been waiting for a call back saying I've been approved so I can go pick up my car. What's the normal amount of time this'll take?

I WANT MY DAMN CAR!!


-Matt
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Old 08-16-2004, 01:26 PM   #2
DanRx
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it takes between 7 seconds (automatic approval) and 24 hours or more if it is a dogfight with a lot of stipulations...be patient, no news is good news.
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Old 08-16-2004, 01:27 PM   #3
Can't_Go_Slo
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isn't subaru credit still offering really low rates? that was about 15 minutes for me while i was there.
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Old 08-16-2004, 01:27 PM   #4
MattDell
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My credit isn't good enough for Subaru, but my credit union is offering 4.5% for 72 months if the car is over 20K.


-Matt
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Old 08-16-2004, 01:55 PM   #5
Soon2bSubbieowner
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Eh, the longer it takes. The worse. Do you have the car already? Are you financing with your parents? I have only had bad experiances with dealerships. If they dont call back after a day they probably didnt get a loan for you and dont feel like calling. As soon as your approved, they will call.
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Old 08-16-2004, 02:13 PM   #6
MattDell
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Nope, don't have the car already.. I wouldn't really care how long it took if I had the car!


But, yes, I'm getting it financed through my parent's credit union because they've got a pretty good rate. Same goes for the insurance.

-Matt
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Old 08-16-2004, 04:27 PM   #7
MattDell
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Son of a bitch.. their "loan printer" is down and they can't print me out a check until they get it fixed!
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Old 08-16-2004, 04:33 PM   #8
nogger
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Kill them.
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Old 08-16-2004, 04:34 PM   #9
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Quote:
Originally Posted by MattDell
I last talked with the dealership and the credit union at 9AM and I've been waiting for a call back saying I've been approved so I can go pick up my car. What's the normal amount of time this'll take?

I WANT MY DAMN CAR!!


-Matt
If your credit is good, it only takes minutes for them to approve you. If your credit is bad, then it can take forever.
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Old 08-16-2004, 04:35 PM   #10
norseone
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Are you getting a WRX then?
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Old 08-16-2004, 04:37 PM   #11
MattDell
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Yes.
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Old 08-16-2004, 04:39 PM   #12
C-daleRidr
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72 months? You shouldn't even be allowed to finance anything other than a home for that long!
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Old 08-16-2004, 04:48 PM   #13
RxyGrl
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I got approved through my credit union in like 3 mins.

hope everything works out for you.
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Old 08-16-2004, 04:56 PM   #14
martel
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takes about 10 seconds
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Old 08-16-2004, 04:56 PM   #15
jetwagon
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Quote:
Originally Posted by DanRx
it takes between 7 seconds (automatic approval) and 24 hours or more if it is a dogfight with a lot of stipulations...be patient, no news is good news.

yup, that's about it. If it's taking longer rethink the car purchase and use your money to work on your credit.
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Old 08-16-2004, 04:59 PM   #16
trancenotic
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took me 3 mins as well over the phone with my bank branch's manager, and they had a cashiers check waiting for me in the afternoon. Didn't sign the banks papers until the following week....... Doing all my banking at a smaller bank rules.... they give me the best customer service where BOA, ST, and WACH BLEW. If you want a fast response, then just put over 30% down on the car ...... that usually gets them moving quicker if your credit history is spotty.
Good luck and enjoy when you get your car
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Old 08-16-2004, 05:02 PM   #17
Janq
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Quote:
Originally Posted by obyone
If your credit is good, it only takes minutes for them to approve you. If your credit is bad, then it can take forever.
Yep.

Good = Prompt service
Bad = Your deal is being shopped around to find someone to take it.

BTW, always get pre-approval _before_ shopping for the car.
That way your finacing is taken care of upfront by a third party and no dealer funny business can result as you skim over the math and sign at the bottom line.

- Janq
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Old 08-16-2004, 05:03 PM   #18
Jard
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Quote:
Originally Posted by norseone
Are you getting a WRX then?
What color?
Options?
Year?
Wagon or Sedan?

We need details man!
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