Samuel applied for a loan to purchase a new car. his application was denied. what should he do now?

Question

Business

Mariah Baird

16 January, 23:57

Samuel applied for a loan to purchase a new car. his application was denied. what should he do now?

+2

Answers (1)

Know the Answer?

Kamari Juarez · Answer 1

In a situation in which Samuel's application for a loan to purchase a new car was denied, he can do several things:

1. Ask why he was denied. What thing lead to this situation?

2. If he made a mistake in the application, he should correct it.

3. And if not, for example if the denial is due to poor credit report, Samuel should get a free copy of his report from any of three major credit reporting agencies and get a second opinion.

4. And finally if this also does not work he should apply for a new loan.