I applied for a car loan yesterday evening and expected a “fast decision”.I received an email at 6:27AM the next morning asking for me to call to answer a couple questions. I called and received an automated message saying that their offices were closed and to call back between 10am and 6pm. I waited until 10am and called again. Agent asked a couple identifying questions and reassured me I would receive an answer “today”. Received an email at 10:24am asking me to upload documents. I did so and completed the project within an hour.Didn’t hear anything, so at 2:40pm, I called again. The agent said it is currently under review, but not to worry because I will receive a decision “TODAY”. I said “that’s great, because I plan to go car shopping tomorrow.”I didn’t hear back by 6pm, so I called again, but offices are apparently now closed. Logged into the application online and it appears that it’s still in process.Sent an email to inquire and quickly received a denial letter within 60 minutes.According to their system, I have an 802 credit score. I have millions of dollars in investments and real estate. I have very little, to no debt at all.I make over $40,000 per month in income.They declined me for reasons that simply do not apply.Clearly they’re trying to attract people by teasing them with low interest rate offers, but really only looking to approve consumers with low income/credit so they can justify charging high interest rates.
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