It is possible for a car dealership to approve credit and subsequently have the financing application declined by the lender. While the dealership often conducts its credit checks and may give conditional approval based on the results, the final approval comes from the lender or financial institution. Factors such as updated credit information, changes in employment or income, and additional details provided during the full financing process may influence the lender's decision, resulting in a decline.
In such a situation, the car dealership may have acted in good faith based on the information available at the time but can not override the lender's final decision.
It is essential to work directly with the lender or financing company to understand the reasons behind the decline and explore potential solutions or alternatives.
