Financing · Max Ford · Richmond, MO
Prequalify or Get Pre-Approved in Richmond, MO
Know which credit check you need before anyone runs one. Start soft, apply when you are ready.
Prequalification is an estimate of what you can afford, built from a soft credit inquiry with no impact on your credit score. Pre-approval is a full credit application that uses a hard inquiry and returns a lender decision before the deal is final. At Max Ford of Richmond in Richmond, Missouri, both start online.
Which door do you want to open first?
Prequalify
Soft pull
- You get
- An estimate of your payment range and terms (your buying power).
- We need
- A few answers about you. No Social Security number.
- Credit impact
- No impact on your credit score. Lenders cannot see it.
Get pre-approved
Hard pull
- You get
- A lender decision before your deal is finalized.
- We need
- A full credit application, including your Social Security number, income and employment.
- Credit impact
- Lenders see the inquiry. It can lower your score a few points, temporarily.
How do prequalification and pre-approval compare?
| Question | Prequalification (soft) | Pre-approval (hard) |
|---|---|---|
| Credit score impact | None | Can lower your score a few points, temporarily |
| Who sees it | Only you; invisible to lenders | Lenders who review your report |
| Info needed | A few answers; no Social Security number | Full application with SSN, income and employment |
| What you get back | An estimated payment range and terms | A lender decision before the deal is finalized |
| How long | About a minute | Lender responses often come back in seconds |
| Best when | You are shopping and want a budget | You have picked a vehicle and are ready to buy |
| Is it an offer of credit? | No | It is a lender decision; final approval depends on the vehicle, structure and down payment |
What is the difference between a soft pull and a hard pull?
Every credit check is one of two kinds. Which kind it is decides whether your score moves. Lenders often use “prequalified” and “pre-approved” interchangeably. At Max Motors, prequalification always means a soft pull and pre-approval always means a hard pull.
Prequalification
Prequalification is an estimate of the payment range and terms you may qualify for, based on a soft credit inquiry and the answers you provide.
Pre-approval
A pre-approval is a lender decision on a full credit application, made before your deal is finalized, and it uses a hard credit inquiry.
Soft credit inquiry
A soft credit inquiry is a credit check only you can see, and it does not affect your credit score.
Hard credit inquiry
A hard credit inquiry happens when a lender reviews your credit to decide on an application; lenders can see it, and it can lower your score slightly for a short time.
Shopping auto lenders? Most scoring models count auto loan hard inquiries made within 14 days as a single inquiry, and some allow up to 45 days. A hard inquiry stays on your report for two years, and the effect of an auto inquiry is generally small and lasts a few months.
Source for credit-scoring facts: Experian, “Prequalified vs. Preapproved” (September 25, 2026).
Which one is right for you?
- Just browsing
You want a budget before you fall for a vehicle.
Start with: Check my buying power - Ready this week
You picked the vehicle and want a lender decision.
Start with: Get pre-approved - Rebuilding credit
You want to see where you stand without another hit to your score.
Start with: Check my buying power - Trading in
Your trade value changes your budget, so value it first.
Start with: Value my trade
Experts at both
Why finance with Max Ford of Richmond?
Most people don't know which check hurts their score. We do both every day, and we'll tell you which one you need before we run either.
- Both tools are live on this site, and this page tells you which one to use.
- We actively work with lenders in the prime and subprime markets.
- Lender responses on the finance application often come back in seconds.
- A real finance team reviews every application and calls back with actual terms.
- Five rooftops, four cities, one standard: The Easiest Place To Buy A Car.
Only at Max Motors: the $500 Deal Match Guarantee, Max Transit home delivery, and the KBB Instant Cash Offer headquarters for our five-county area.
What do shoppers ask about prequalifying and pre-approval?
What is the difference between prequalification and pre-approval?
Prequalification estimates your buying power from a soft credit inquiry and has no impact on your credit score. Pre-approval is a full credit application reviewed by lenders; it uses a hard inquiry and returns a lender decision before your deal is finalized.
Does prequalifying hurt my credit score?
No. Prequalifying uses a soft credit inquiry, which has no impact on your credit score and is not visible to lenders.
Does getting pre-approved hurt my credit score?
A pre-approval uses a hard inquiry, which lenders can see. Generally it can lower a score by a few points for a few months, and the inquiry stays on your report for two years.
How fast will I hear back?
Prequalification results show right away. On the finance application, lender responses often come back in seconds, and our finance team follows up with actual terms. Response times vary by lender.
Is a pre-approval a guarantee of a loan?
No. A pre-approval is a lender decision based on your application. Final approval, APR and terms depend on creditworthiness, the vehicle you choose and your down payment. A prequalification is not an offer of credit.
How long does a pre-approval last?
It depends on the lender. Ask your finance manager how long your specific pre-approval stays valid.
Can I shop more than one lender without hurting my credit?
Generally, yes. Most scoring models treat auto loan hard inquiries made within 14 days as one inquiry, and some allow up to 45 days.
Which should I do first?
Start with prequalification if you are still shopping; it shows your buying power with no score impact. Apply for pre-approval when you have picked a vehicle and want a lender decision.
Can I prequalify with bad credit?
Yes. Prequalification uses a soft pull, so you can see where you stand without affecting your score. We actively work with lenders in the prime and subprime markets. Our finance team reviews every application and calls back with actual terms.
Do I need my Social Security number?
Not for prequalification; the soft pull does not ask for it. The finance application for pre-approval does require your Social Security number, along with income and employment details.
Where is Max Ford of Richmond?
Max Ford of Richmond904 Stonner Loop
Richmond, MO 64085
Call or text (816) 320-5610
Serving Richmond and Excelsior Springs, Lexington and Odessa across Ray County.