<prompt> Human: So bought a car for around 18000 at a dealership where I live, over a month ago, today I get the bill for my first payment, as well as a letter that says I was denied an auto loan. I dont know why I was sent this because my car still has financing at 256 a month for 60 months. So what does the letter mean for being able to pay off my car?  <response>: Car dealer here:This is nothing to worry about. People are always scared when they see these letters come in the mail, but they go out all the time after you apply for financing through a dealer and heres why:Lets say that based on your credit report and the structure of the deal the finance guy picks the 3 most appropriate lenders and sends your info to find wholl give you the best deal on your financing. Lets say one approves it straight up, as expected, with a reasonable interest rate. One declines it because they only want top-notch premium loans but give lower rates and the finance guy wanted to see if he could get you on that cheap rate, but no dice. The last place, also a little more premium lender that gives good rates comes back that theyll do it, but they have a stipulation proof of income, residence, whatever, if you provide the stip as we call it in the business they give you that loan.Heres the important part: technically two of those lenders denied you, which means that by law they have to send you that letter informing you about that.TL;DR It is not something to worry about, your financing is fine, there is no scam, theyre just legally obligated to send you a letter.Also, dont worry about multiple inquiries on your credit report, when they happen in a short span of time it doesnt ding your score every time, just the once. 