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Car Loan Approval. Tell me what you think...

New Contributor

Re: Car Loan Approval. Tell me what you think...

The loan application says they submitted the following terms:  18% for 72 months (is almost a brand new car that only has 39k miles) at $250.92/month.  It says it will be reviewed by a loan officer.  Any idea how long that will take or what they will be looking for?
Message 11 of 12
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New Contributor

Re: Car Loan Approval. Tell me what you think...

The other one didn't end up working out because they didn't like that my second source of income (a part time job) was unverifiable through a computer generated paycheck stub. It is a church that I work as a childcare worker on the side.  They have copies of all the checks and their hand written ledgers, etc. but Wells Fargo wouldn't accept it.  Therefore, I fell slightly below the minimum monthly income they require.
Message 12 of 12