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Does leasing a car effect your credit score less?

New Member

Does leasing a car effect your credit score less?

Does leasing a car effect your credit score less than if you took out a traditional auto loan?
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2 REPLIES
Moderator Emeritus

Re: Does leasing a car effect your credit score less?

No, both have the same effect.
Message 2 of 3
Contributor

Re: Does leasing a car effect your credit score less?

Same effect, but you won't get the same account history of a financed vehicle.  If you think about it, most leases are under 3 years, so you're getting multiple "new" 2-3 year accounts, instead of a 5-6 year auto loan.
Message 3 of 3