Have an existing car loan and buying a new car.
Applied for a loan to settle the current loan and pay the balance on the new one. The car dealer will settle the current loan on my behalf as part of the buying process.
The application has been referred for further checks, I’ve to wait 3-5 days.
The last time I checked I had an excellent credit rating and I’ve had no problems with repayment etc in the past.
Does this mean I’ll be refused the loan, or get a rubbish APR offer??