Q: How long are car dealerships required to retain a copy of the contract if a pre-approval loan was not fully approved?
In my case, the dealership claimed that my pre-approval loan was declined due to unemployment after a month. They also claim they no longer have the contract or loan documents because the contract was voided and the loan was canceled. They keeping my down payment but Is it true that they are not required to keep these documents? Should they be required to retain this information for at least two years? Are they lying?
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