Quote:
Originally Posted by armorrig
Yes, as far as I know, the application was processed through BMWFS and he was given a certain rate, signed everything and completed the sale process. That's why I thought it was unusual that he was receiving denial letters from 2 banks so far that they couldn't extend him a loan based on his Experian score. Also, when the dealer ran his credit history he was informed that they base it on the highest score, upon which he was approved.
When we apply for a loan in a BMW dealership, aren't they supposed to submit it through BMWFS and you either get approved or denied right away?
Thanks.
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Odd. I would suggest that he contact the dealership and inquire as to why he is receiving those notices, that he call BMWFS and verify that they in fact did do the financing (unless he's already gotten statements, etc.), and that he get a three-bureau credit report to make sure everything is what it should be.