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Car Finance Expert Q&A

Hi, I'm Edwin and I'm here to help you!
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Edwin Miles. Underwriting Manager

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Do finance lenders these days do a soft credit search so not to leave a footprint on my credit file?

Hello, many lenders these days do a quotation search so not to leave a footprint on the credit file. Do your lenders do this?

I was in an IVA. Defaults fall off my credit file in 4 weeks. My credit score is 536 on Experian.

I was previously accepted for finance from carloans4U but at a really high rate. This was on a quotation search, not a credit search. I earn £35k a year and am in full time employment. Can you help?

Posted by Michael McKenzie on


Hi Michael, thank you for your question.

At Carfinance247 we do indeed carry out a soft credit check on your credit profile to ascertain whether we can approve you for car finance or not. We do this immediately after you have applied.

However, if our underwriting system believes we can get you approved at a specific lender we will automatically propose you to that lender. At this point a hard credit search will be performed.

We do have lenders on our panel that help ex-IVA customers get car finance and you seem to have a fair credit score so i'm reasonably confident we can get you accepted. I can;t comment on the rate you'll receive at this stage as this will be determined by the lender who approves you but as you have a good income and are employed full time this will go in your favour.

Please make an application when you're ready and if approved you can choose a car from any reputable dealer and we also provide a no obligation quote. Kind Regards, Edwin

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