It’s natural that customers shopping around for car finance can be concerned that an initial credit search will negatively influence their credit score. Initial credit searches usually result in a mark on your credit score – especially when they are abandoned.


At My Car Credit, we help customers check their eligibility for credit before they formally apply for car finance – taking the worry out of assessing your options. We do this by carrying out a ‘soft search’ credit report at the very start of your application.


Representative APR 23.9%



What is a soft search?


A soft search is a type of credit check which allows us to see your financial history (i.e. how you’ve managed your loans and finances) without having this information exposed to lenders.


Here’s how it works. We ask you to complete a short online application form that should take no longer than three minutes – the form will require simple details such as name, address, DOB, contact details, employment details, and history, etc. You will then receive an instant online decision on screen, as well as by email and text.


We understand that no two customers are the same and that several different factors can affect the outcome of your application. Our commitment is finding you the best finance solution possible. In order to do this, we adhere to lending regulation by placing all our prospective customers into one of two categories: prime and subprime.


● Prime customers (those with a good credit status) will receive an actual annual percentage rate (APR) – this rate is a transparent one, i.e. in the majority of cases this will be the rate a customer will pay.


● Subprime customers (those with an impaired credit history) will receive confirmation of their application and the My Car Credit team will work hard to access our panel of 34+ lenders to get the right deal for your circumstances.


Other than its convenience and the information it provides, one benefit of a soft search is that it is not visible to lenders. This means that it won’t affect your future ability to obtain finance, even in the case that you are rejected for finance with us.


If you were to ask for a copy of your credit report, you will be able to see the soft search on there – but (within reason) you can have as many soft searches as you like on your credit profile without affecting your credit score. Essentially, a soft search checks for the same kind of data that a ‘hard’ application would, without running the risk of obtaining a credit mark.


What does all this mean for you?


The approach at My Car Credit means that you have the freedom to shop around for car finance before making your final decision. It also means that you aren’t penalised if you are refused car finance, as you would be with other credit searches.


There is also no obligation or fee attached to the soft search application process with us. If you’re not sure that the quoted rate is right for your circumstances, you are free to take the information away with you – without a footprint being left on your credit profile. However, if you are happy to proceed with the rate you’ve been quoted, you can simply complete your application with us – it’s as easy as that.


Put simply: A soft search is a fantastic way of starting your car finance application without the worry of affecting your credit score. Whilst this provides a very good indication of where you stand in terms of being approved for credit, it is not a replacement for checking your credit history and improving your credit score before making an application.


Representative APR 23.9%