Two weeks ago I was approved for a new car from a dealership. I traded in my used car plus gave them cash in the down payment. They tell me that the loan went through, gave me my new 2013 car and gave me all the loan contract paperwork.
Last week I also received a mailed letter from the bank that financed my car. They were congratulating me on the purchase of my new car. They also mailed me the loan payment coupon booklet with my new account number and loan number on it, along with the dates entered of my first 12 payments.
Today I receive a letter from the bank stating that my loan was declined. I was under the assumption that the loan was finalized and if so can they decline it after they agree and finalize it?