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Auto loan refinance soft pull?

Can you refinance your auto loan with just a softpull?

Nicholas Hinrichsen - Published: September 6, 2020

In most cases, you can get an estimate for refinancing terms with just a softpull, but finalizing the loan requires a hard pull.

How can I be sure the application is only using a Softpull? In most cases you'll see big print somewhere on the application that says "with no impact to your credit". If you then go on to read the fine print, you can often see whether the term "soft pull" is used. In cases of doubt, call the lender directly and learn not only (a) whether a soft pull is used but (b) what credit bureau and score is used for the softpull.

Should I care if a softpfull or hard inquiry is used? Yes! If the application requires a hard inquiry, this inquiry could impact your credit score. Modern lenders should be able to rely on soft-pull only to proceed.


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