Finance Estimate:
This is when you use a calculator to estimate a monthly budget of what you could pay 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.
Will applying for finance impact my credit score?
If you choose to get personalised quotes through a journey, 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 credit agencies, Experian and 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 Experian and Equifax to do the check. This means that it will be visible to other lenders on your credit report.