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Why Customers Care About Soft Credit Pulls

If you’re up to date with Roadrunner Financial, then you’ve probably heard of our first-of-its-kind powersports soft pull feature. If you’re not familiar, and you’re at a franchised powersports dealership, then you should probably check it out. Our soft pull feature can deliver pre-qualified real credit offers – instantly.

So, why do your customers care about soft pulls and pre-qualified offers? They get credit card offers in the mail all the time – it’s junk, right? Well, unlike what you receive in the mail, this is a real credit offer. The ability to get an actual offer, plus soft pulls having zero effect on credit, presents an opportunity that your customers have never had before. Here’s why they should care.

No Impact on Credit

Soft credit pulls are called “soft” because they’re the opposite of a hard credit pull. Those hard pulls are the ones that most consumers think of when they apply for financing – a pulled credit report that comes along with a ding to FICO score.

Soft credit pull programs can check out credit reports and screen for financing without any effect on your FICO score. It’s a light touch on credit with all the same benefits but minus all of the risk! 

Since FICO score is a pretty big part of financing decisions, keeping credit score high is important to your customer’s future loan eligibility. It also makes the decision to submit a credit application a little easier and a little less scary.

Guilt Free Shopping

Whether your customer has a great credit score and wants to keep it that way, or they’re building their credit and don’t want to be bumped to a lower credit tier, a soft credit pull is an opportunity to shop without any repercussions.

Let’s say your customer doesn’t know if they’ll be approved and is worried about applying. A soft pull is a nice and easy way to feel out where they stand before going for the hard pull. Or maybe a customer wants to compare the rates they can get on different units- they can do that with no regrets.

Loan shopping with soft pulls is as approachable as browsing sticker prices – and there’s absolutely no hard pulls until you generate contracts with Roadrunner.

Why You Should Care About Soft Pulls

When your customers can say “why not” to a credit application in your dealership, you’re getting them closer to a sale than ever before. As you know, time is money when the customer is in your store. 

They’ll feel less committed when you ask them to just submit an application, and feel their impulses firing more than ever when they get a pre-qualified offer. When you can close deals in the moment, you can close more deals in general.

To get signed up for soft pulls with Roadrunner Financial, click here. We can also answer any questions you may have about the feature 7 days a week at (646) 370-5471 or help@roadrunnefinancial.com.

The above article is being provided for informational purposes only and shall not be considered any type of professional advice. Roadrunner Financial, Inc. (RF) does not warrant the accuracy of the information contained herein. Prior to utilizing RF as a lender, all dealerships are subject to underwriting approval by RF, in its sole discretion. No loans will be funded without a signed Dealer Agreement between the dealership and RF. All applicants for credit through RF are subject to credit approval. Other qualifications and restrictions may apply.

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