Auto Loan Approval-By-Phone: Why Approved Loan Store Doesn’t Do It

At Approved Loan Store, we get asked all the time why we can’t give car loan approvals over the phone and why our customers need to bring their driver’s license, Social Security card, proof of income, and other identification to their appointment. Yesterday, there was a perfect real-life example in Dedham, Massachusetts, and we would like to share it with our readers so they understand why approvals-by-phone simply don’t happen.

Arthur Roberts wanted to get a new car. His previous car had been repossessed, and he was looking to get a car loan. Rather than take less-than-favorable rates or a cheaper car, Roberts forged documents from Attorney General Martha Coakley’s office and a credit bureau claiming that he had been the victim of identity theft. As a result, he got approval for a $22,000 car loan.

It wasn’t long until the law caught up with Roberts. He was indicted last March, and yesterday, he pleaded guilty to one count of larceny by false pretenses and three counts of common law uttering. He was sentenced to two years in jail, but due to medical reasons, he was put on three-year probation. The conditions of his probation are that he has to report any purchases made over $3,000, provide his quarterly credit reports to his probation officer, and inform his probation officer if he applies for credit.

This is why approvals-by-phone do not happen. There is too much of a risk that criminals will submit other people’s personal information, claim that they earn a higher income than they really do, and commit fraud just to get a car. At Approved Loan Store, we set up appointments for our customers to meet with a Special Finance Representative so that we can verify all of your personal information. We do not and nor will we ever stand for illegal activities, and the best way we can prevent that is by insisting on approvals in-person and with the proper documentation.

Are you having trouble getting approved for a car loan? Approved Loan Store can help! Fill out our auto loan application here, and keep up with the latest news and consumer education by liking Approved Loan Store on Facebook and following Approved Loan Store on Twitter.

Image: Victor Habbick /