Hard vs Soft Pull Credit Inquiries

Wally's Ford of East Greenbush recognizes that credit can be tough to understand. There are many terms and circumstances that aren't always clear to consumers. If you're not sure what the difference is between a hard and soft inquiry on your credit score, we're here to help.

Understanding your credit score is imperative to getting the best finance rates and highest borrowing power. Before applying for credit:

  • Check your credit report for errors or mistaken reporting
  • Pay off as much credit card debt as you comfortably can
  • Decide what kind of financing you'd like to apply for

What is a Soft Inquiry, or Soft Pull?

A soft inquiry, sometimes referred to as a soft pull, is a quick glance at your credit score. These soft inquiries generally happen before a lender decides to issue credit and don't affect your credit score. Pre-approval offers typically are a result of a soft credit score. That means you will not be affecting your credit when you get pre-approved through a car dealership.

What is a Hard Inquiry, or Hard Pull?

Hard inquiries, sometimes referred to as hard pulls, accompany a formal application for borrowing and will affect your credit score. But, a hard inquiry only stays on your credit report for a couple of years and generally has a very small effect on your score - usually less than 20 points.

A hard inquiry lowers your credit score as it suggests you actively seek credit. An important note: credit bureaus recognize that you may submit multiple applications to different lenders while shopping around for a big purchase, such as a vehicle or home. Because of this, your credit will not be penalized for many different hard inquiries in a short period (typically 14 to 45 days) if they're for the same loan type.

Get More Information or Apply for Financing Today

If you still have questions or want to apply for new or used car financing, contact Wally's Ford of East Greenbush today or apply online. We look forward to guiding you through the exciting car-buying process.

  1. Wally's Ford of East Greenbush

    634 Columbia Turnpike
    East Greenbush, NY 12061

    • Sales: 518-279-6623
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  • Contact our Sales Department at: 518-279-6623
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