How does a lease effect your credit?

[JKD]

On the credit report does it show a line of debt? What does it exactly show? We're about ready to get another car but we are exploring our options on what would be best for us. Buy/lease etc etc.


Thanks,


Steve

[kangol]

Credit items, or non-public records on your report are dichotomous. They are either installment accounts or revolving accounts.

If you lease it or purchase it, it’s an installment account and both should have the same effect. As far as your credit report is concerned, the difference would be the monthly payment, and the duration of payments.

When considering if you should buy or lease, how it shows up on your credit report should not be a factor.

[SALEEN449]

could not have put it better myself