I was told I was preapproved for a Car loan/refinance on one of the Bank of America branches and was encouraged to apply. Prior to beginning the application I asked if it the inquiry would affect my credit score. I was told that because it was just a inquiry to confirm my identity it would not affect my score. I also asked if I would be able to refinance even though I had taken out the loan with my mom ( who is a cosigner ) and the car was registered under her name and the title was also under just her name. I was told that as long as my name was on the car loan I would be able to refinance. After getting approved and spending over 15 hours on the phone my current BOA loan costumer service obtaining all the information they had requested, I was told by a different representative prior to final submission that because I was not on the registration or the tittle of the car ( because the dealership did not include my name ) I would not be able to refinance. I explained that I was told both at the bank and through the phone by previous loan representatives ( which was recorded on their recorded line ) that all that was needed was for my name to be on the loan to be able to refinance the car loan. After speaking with a manager and explaining the situation ( and the fact they had the conversations with BOA representatives on recorded lines stating that all that was needed was for my name to be on the loan to finalize the loan ), the manager stated that there is nothing they can do on their end and I would have to either reapply or make it a third party purchase which would end up being more interest and higher payments on my end. I attempted to update the tittle, however, that takes over 3 weeks and the approval was only valid for 30 days. I also found out that the inquiry had indeed lowered my credit score as it showed as a credit inquiry on my credit report. I was extremely upset at the fact that I was misinformed and that most of the staff was not well trained and this ultimately led me to have an inquiry on my credit report, with no loan to show for. All they were able to say was they they apologize for the misinformation, however, I feel I should not bear the cost of their neglectance in staff training and procedure. 
