What is soft pull vs hard pull when it comes to finance applications?

Soft Pull: Also known as a soft credit inquiry or soft credit check, is a credit check that does not impact your credit score. This typically applies to pre-qualification or any estimates provided without submitting an application.

Hard Pull: Also known as a hard credit inquiry or hard credit check, refers to when a lender requests your credit report to assess your credit worthiness when you apply for a loan. This type of inquiry can temporarily lower your credit score. This applies when you submit a formal credit application for a car loan.

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