Your credit score plays a large part when it comes to car finance. It’s natural that customers shopping around for car finance are often concerned that an initial credit search will negatively influence their credit score. This is especially concerning for customers looking to explore their options before committing as an abandoned credit application will result in a credit mark.



At My Car Credit, we help customers check their eligibility for obtaining 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.


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 exposing this information to lenders.


We’ll 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. Once completed, customers will then receive an instant online decision onscreen, 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 best possible rate.


Other than its convenience and the information it provides, one benefit of a soft search is that it is not visible to lenders. So, whilst a soft search is recorded on your credit profile, it won’t influence your future ability to obtain finance.


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 soft search approach here at My Car Credit means that you have the freedom to shop around for car finance before making your final decision. 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 you, or you simply decide that you no longer need car finance, 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 – as you may wish to work on improving this before making an application.


My Car Credit have partnered with Credit Angel to offer advice and a FREE credit check.