Soft Pulls – The Beginning of an Era – The Soft Pull Era

CBC Header

The Soft Pull Era Has Arrived

CBC is here to share with you a groundbreaking credit report process that will change the way you think about pulling credit and the compliance obligation wrapped around a traditional hard inquiry FOREVER!

Read on and see why some of the nation’s largest dealer groups have embraced the soft-pull era. Then contact CBC to get started today! You’ll never look back.

Pull a Soft Pull First!

Pull a PREQUALIFICATION (Soft Pull) Credit Report First!

Here are a few benefits of pulling soft pulls upfront at the beginning of the credit report process:

  • No impact to your customer’s credit score. Soft-pulls don’t affect a consumer’s credit score.
  • Receive more lead submissions by only requiring minimal data. No SSN or DOB needed! NOTE:SSN/DOB can help with thin or no-file applicants.
  • Avoid wasted sales agent time spent on too much car. Prequalify applicants and get them in the right car early on in the sales process.
  • Receive a full-file credit report from all three bureaus with a FICO score. Reduce the regulatory compliance burden. No commitment to buy, no hard- pull! No hard-pull, no Risk-based Pricing Score Disclosure. Adverse Action Letters are at the dealer’s discretion.
  • Save up to 60% or more in monthly credit report expenses by eliminating the hard- pull FICO surcharge, major compliance actions, and FACTA.


Question: What kind of information do I receive in the soft pull report?

Answer: CBC delivers a full file credit report with the FICO score(s) you and your lenders use. Rest assured, when you receive the soft pull report, you will know, without a doubt, who you are dealing with and how to handle the applicant.

Question: Can I send the prequalification report to the bank?

Answer: No, the prequal report is not to be shared with the applicant or anyone other than dealership personnel.

Question: So, what do I send to the bank?

Answer: A soft pull is not a replacement for a hard inquiry. Pulling a soft-pull upfront allows you to prequalify the applicant, steer the applicant in the right direction, and be used as a precursor to the hard-pull used to send to a lender and produce Risk- Based Pricing Score Disclosure forms.

The number one benefit to pulling a soft pull upfront is for the 60% to 80% of applicants that DO NOT do business with you.

Question: So why would I pull a soft pull if I have to pull a hard-pull anyway?

Answer: Unless you have a 100% closing ratio, the soft-pull method will save time, money,and greatly reduce the compliance burden.

Question: What if I pull more than one bureau?

Answer: That will work even better. CBC offers all three credit bureaus as soft pulls so you replace the multiple hard-pulls with soft pulls further reducing credit report costs and regulatory compliance.

There you have it. Contact CBC or your sales agent today to get started or to catch up.

Leave a Reply

Your email address will not be published. Required fields are marked *