Finance estimate:
This is when you use a calculator to estimate a monthly cost of what you could pay for finance on the vehicle.
Finance quote:
This is when you have entered more personal details. This includes details such as:
- Address
- Employment history
- Income
This allows us to run a soft check with our 3rd party credit companies. This gives you a more accurate view of what you could be paying. This usually brings back a few options from different lenders who will display different quotes. You can then compare and select one to apply fully for finance.
If you don't want to complete the finance application online, you can add your personal details and complete the deal and then discuss your finance options directly with the seller. Select the 'add details to deal' button to do this.
Will applying for finance impact my credit score?
If you choose to get personalised quotes, we will complete a soft credit search. This won’t affect your credit score. The search will show on your credit report, but only you can see it.
-
We’ll share your details with the credit agency Experian or Equifax. They will share only necessary details from your credit file. This includes your credit score.
-
We use this information to check which lenders can offer you finance agreements
If you choose to apply for finance, the lender may perform a hard check. If the lender does a hard check, they will contact credit reference agencies such as Experian and Equifax to do the check. This means that it will be visible to other lenders on your credit report. A hard check may impact your credit score.
Good to know: If you choose not to complete the deal straight away, your finance quotes will not be saved. When you come back to it, they will be refreshed to reflect the latest offers. This may require a second soft check. A hard check will happen when you apply for a quote.