How Checking Your Rate Affects Your Credit

Learn the difference between hard and soft credit inquiries and what to expect when applying for an auto loan.

What is a credit check?

When you apply for a loan, whether it’s an auto loan, personal loan, credit card or mortgage, the lender will likely need to check your credit history to help determine your rate, potentially affecting your credit score – at least temporarily.

However, this will depend on whether the lender does a hard or soft credit pull.

Soft credit inquiries

A soft inquiry, also known as a pull, can provide an estimate of rates without affecting your credit score. It is not a final approval.

Hard credit inquiries

A hard inquiry may happen during a formal loan application, usually requires authorization, and can temporarily affect your credit score.

Explore Your Options

Look for a lender who’ll use a soft credit pull to provide a rate estimate.

Review Your Potential Rate

Your estimate is not necessarily a final approval or offer, but will give you an idea of what to expect.

Submit an Application

Once you submit a formal application, a hard credit inquiry may occur.

Review the Final Terms

Check out your approved rate, terms and total cost before deciding what’s next.

Why Refinance Your Auto Loan?

You're not stuck with your current loan, and you could be saving big.

Auto loan rates may have dropped since you bought your vehicle. By refinancing now, you could take advantage of lower rates and flexible terms to:

Reduce your monthly payment
Pay off your loan faster
Free up cash for what matters most

Check your rate for a personalized rate estimate with no impact to your credit score.

And when you refinance with Service Credit Union, you’re not just a borrower, you’re a part owner of the credit union. That means lower loan rates, higher savings yields, and support that goes beyond.

Limited-Time External Auto Loan Refinance Rate

External Auto Loan Refi Rate

As low as

3.99%

APR*

Flexible Terms

Choose a repayment plan that fits your life and budget.

No Payments for up to 90 Days

Keep your cash flow going with deferred payments at the start.

Fast Approvals

Apply in minutes and get funded, often within 24 hours.

Membership Perks

Qualify for rate discounts up to 0.75% APR** with Direct Deposit+.

Check Your Rate

Auto Refinance FAQs

Can I still refinance if I owe more than my car is worth?

In some cases, yes. Reach out and we’ll help explore your options.

Will refinancing affect my credit?

Like any loan application, a credit check is required.

Is there a fee for skipping the first payment?

No. Qualified borrowers can defer their first payment for up to 90 days; interest will continue to accrue during this time.

How long does the process take?

Most refinances are completed within 24 hours of approval.

Do I need to be a member to refinance?

Yes—but joining is easy. A $5 deposit into a Primary Savings Account opens the door to membership and benefits.

Can I apply online?

Yes! You can check your rate for a personalized rate estimate with no impact to your credit score: Check My Rate

^*Rates shown are Annual Percentage Rate (APR), accurate as of June 1, 2026, and subject to change without notice. Rates advertised for external refinances only. Rate advertised with a .75% reduction for the Direct Deposit+ checking account tier (example: 4.74% APR less .75% = 3.99%). Up to a .75% discount will be applied to the APR that a member qualifies for based on creditworthiness and checking account tier. Members must maintain the checking account tier qualifications for the life of the loan in order to keep their loan discount. The loan type, collateral age and loan term may impact the APR offered. Floor rate may apply. Must be a member of Service CU or establish membership with $5 in a Primary Savings Account.

^**Loan Discounts do not apply to real estate (excluding HELOC), lines of credit, business loans, certificate or share secured consumer loans, Instant Loans or VISA loans. Discount will be applied to the APR that a member qualifies for based on creditworthiness and checking account tier. The loan type, collateral age and loan term may impact the APR offered. Members must maintain the checking account tier qualifications for the life of the loan in order to keep their loan discount. Discount conditions will be set forth in your loan contract. Floor rate may apply. Must be a member of Service CU or establish membership with $5 in a Primary Savings Account.