How long to wait for car finance approval?

Hi,

How long should loan approval take after  a car dealer submits your proposal form to their finance department? A car dealer submitted my finance application on Friday at 12:30 and I didn’t hear back yet for rest of Friday so will have to wait until Monday...

Hugh Ward (New Ross )

Sep 2019 Filed under: finance

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Expert answer

Hi Hugh,

It can vary hugely and depends entirely on who the dealer is using for finance provision — is it a high street bank, or a ‘captive’ bank that’s part of the car company itself? Either way, while these things can be turned around quickly, often they’re just not. Patience is all we can advise. 

Neil Briscoe - Complete Car Advisor
@neilmbriscoe