So I just got a new car a couple days ago (not my first car, but my first time financing one) and for the most part, Im happy. I like the car, the monthly payments are within a comfortable amount, and the experience at the dealership was about what I expected.
When the dealer ran my FICO, it came back around 640s (although Ive paid off a good amount of debt in the past couple weeks) and they shopped around for rates and eventually landed with one lender. They had to call the lender and speak with them but everything seemed okay. What I did notice, however, was a conditional delivery form in my paperwork.
Nothing was conveyed to me in terms of borrowing the car, not being approved, having trouble with approval, etc. As far as I was/am aware, there is no problem. I also talked to my sales rep and specifically asked if the loan was approved or pending approval, to which they replied with the former.
I always assume worst case scenario, but I figured I would ask on here to see what other people think. My FICO came back 640 but I paid off half my debt after that (waiting on insurance check). I have about 3+ years credit history with around 6 credit cards, and I generally use less than 30% utilization with exception to one time where I had to use more and paid it off promptly. Ive never missed a payment on anything and have paid off tens of thousands of dollars on my cards over the years. With that being said, how likely am I to have an issue, and should I be worried or should I assume everything is okay since they said it was approved?