What is a soft search in car finance?

what is a finance soft search

Check Your Eligibility in 60 Seconds

A soft search, also known as a soft credit check or soft inquiry, is a type of credit check that does not leave a mark on a person’s credit report. Soft searches are typically done by lenders, credit card companies, and other organisations when a person applies for a loan, credit card, or other credit-related product.

A soft search is used to check a person’s creditworthiness, and to see if they are likely to be approved for a loan or credit card. This is done by checking the person’s credit score and credit history, as well as other information such as their income and employment status. Soft searches do not affect a person’s credit score and are not visible to other lenders or organisations.

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What is a soft search in car finance? 2

Examples of soft searches include when you check your own credit report, when you pre-qualify for a credit card or loan, or when a lender or credit card company checks to see if you are pre-approved for a product. We only perform soft searches on our customers credit files, meaning we can gain approvals from multiple finance lenders without impact to a customers credit score and whilst obtaining the best interest rate possible for that individual.

It’s important to note that hard search or hard credit check, which brokers elsewhere may perform, will leave a mark on your credit report and can affect your credit score. Once applying with us, its important to limit other applications elsewhere as multiple hard searches by other organisations may impact an approval or rate we can obtain for you.

Check Your Eligibility in 60 Seconds

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Company Name & Contact Details
Happy Motor Finance
Pennington House
16 Carolina Way
Salford Quays
Salford
M50 2ZY
0161 524 0582
Happy Motor Finance Limited is registered in England and Wales under company number: 14387669. Registered office address: Pennington House, 16 Carolina Way, Salford Quays, Salford, M50 2ZY

Happy Motor Finance Limited (FRN - 989250) is authorised and regulated by the Financial Conduct Authority. We act as a credit broker not a lender. We work with a specific panel of lenders to try to obtain you an approval. We receive a commission for introducing you to parties with whom we work with if you proceed with an acceptance. This commission is a fixed payment or fixed percentage of the amount you finance, but can vary by partner. This does not impact the rate you are provided. You will be provided full information before completing your finance agreement and you can request further information at any time. We do not charge a fee for our services. All finance is subject to status and income. Terms and conditions apply. Applicants must be 18 years or over. We are only able to offer finance products from these providers.

Happy Motor Finance Limited are registered with the Information Commissioners Office under registration number: ZB408604

VAT Number: 456 0212 21
Specialist Automotive Finance Approved
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