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New Member
holls
Posts: 1
Registered: ‎05-01-2008
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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?
Moderator Emeritus
fused
Posts: 16,373
Registered: ‎03-12-2007
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Re: Does leasing a car effect your credit score less?

No, both have the same effect.
Credit Profile -
FICO 08 Scores (11-08-2014): EQ 818, EX 817, TU 822
All three scores were 850. Lost points for not having an open installment TL. So, BE WARNED!!!!!
Credit History: 26+ years ~ AAoA: 12 years ~ Util: 1% ~ Inqs: EX 1

Contributor
UnderEstimated
Posts: 130
Registered: ‎04-16-2007
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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.

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