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in car loans what is the meaning of this contingency approval?
I contacted a dealership about getting a new car and they told me that i had a conibgency approval what exactly does that mean
By
key2me12
Posted on
07/31/06 Total Answers
3
Answers-
a pre-approval...
basically to get you to come down
Answer by :
mommy2savannah51405 On Date
2006-07-31 19:38:20
Means you might get approved.
No approval is available until you fill out all paper work and they check you out then you become a debt slave on a depreciating car . Carefull about being up side down on loans. Your best choice is work hard save the money and get a used car . Save your self a financial
shafting visit www.daveramsey.com to learn things about real world money the easy way.
Answer by :
robert w On Date
2006-07-31 19:45:08
It means that your loan approval could happen, but don't get your hopes up that it'll be approved until it's actually approved. It's a word they use so they don't lose your interest until they know that your credit is sound enough to approve your loan. They also check to see if your still employed. I've bought 3 new cars and I've had to go through this. Don't be dissappointed if it doesn't go through. Just ask what it takes to be able to get the loan for the car. Good luck I hope you get your loan.
