Banking LOL

[enemji]

I have my Model 3 LR scheduled for delivery for July 22-27. So I start working with Bank of America to setup a loan. I get the loan approved yesterday, and today I received an "Adverse Notification Letter"

Thank you for your recent application for credit received through Bank of America, N.A. on July 11, 2022. After careful consideration, we approved your request on terms other than those you may have originally requested. This decision was based on the following reason(s):

Principal reasons that apply were:

• Insufficient collateral value or loan amount requested too high

Our decision was based in whole or in part on information we obtained from the consumer reporting agency listed below.

I was curious as well as mad as I read through this, and it turns out the new approval was for 0.1% lower than originally quoted by them.

O well. I am happy.

 

[BigNick]

That might save you about $100 to $150 over the life of the loan. Lock that in before the Fed jumps the interest rate another 0.75% or so.

 

[Gimmethecash]

It was BofA’s incompetence that led me to drop them years ago. I wish you better luck than I had.