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Re-apply for loan if already approved?

MF123
MF123 Posts: 3 Newbie
Second Anniversary
in Loans
Hi, quick bit of advice about a loan.
Was approved back in December for a loan for a car by Cahoot with a good interest rate. At that time I didn't go ahead with the purchase, I never signed the loan agreement from the bank, and did not release the funds. Now I am again wanting to finance a car, I assume since 3 months has passed I need to formally re-apply for a loan whether from Cahoot or elsewhere - I can't have the agreed amount and terms from when I was approved in December?
Thanks. 

Comments

  • foxy-stoat
    foxy-stoat Posts: 6,879 Forumite
    Eighth Anniversary 1,000 Posts Name Dropper
    Read the credit agreement that you received, see if there is a time limit on accepting the loan, but 3 months is probably too long now and you will have to reapply.

    You may or may not get the same terms as your December application.
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