How does a lease effect your credit?

JKD · 05-29-2004, 06:52 PM

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 · 05-29-2004, 07:20 PM

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 · 05-29-2004, 09:14 PM

could not have put it better myself

05-29-2004, 06:52 PM	#1
JKD 学生 Join Date: Jun 2002 Location: The weapon is only as good as the person wielding it. Posts: 13,306	How does a lease effect your credit? 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

05-29-2004, 09:14 PM	#3
SALEEN449 Grapevine Ford Join Date: Nov 2002 Location: Grapevine Ford Posts: 2,885	could not have put it better myself __________________ Skip Harmon New Vehicle Director Grapevine Ford 817-319-2298 www.lockoutforums.com

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05-29-2004, 07:20 PM	#2
kangol NES Crew Join Date: Jun 2003 Location: I love Texas, and I don't drive a Lexus. Posts: 4,939	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.