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How long does a finance company have to approve/deny credit apps?

I submitted my application for credit about three weeks ago. Do finance companies have a required time limit on when they have to provide an answer? It is for a motorcycle loan, and first they said I was approved if I put $1,000.00 down.. I have the $1,000.00, but now they are saying they don't really like to do motorcycle loans, but won't tell me if I'm approved or denied. How long are they allowed, by law in Oklahoma, to turn around a credit app? Thank you!

5 months ago - 2 answers

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30 days by law

by Craig

5 months ago

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No they don't have a time requirement. You are free to take your business somewhere else if they don't give you a reply in a reasonable amount of time.

by SmartA$$- 5 months ago