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Is my credit affected negatively by leasing?
In my experience.....no. YMMV... literally
In May 2011 I financed a new Altima through Nissan for my wife. In January 2012 I leased a a new Altima through Nissan for myself. The only impact on my score - that I could see - was the 2 - 3 point drop due to the inquiries in each instance. The lease reports to the three bureaus, just like a loan would and the amount of the lease is included with my other installment contracts.
One possible advantage I see with the lease - if the amount of outstanding debt is an issue. The credit line for the lease is only the amount being paid during the term of the lease...I know, common sense....maybe but - we have to new Altimas, which cost approximately 25,000 each. They are almost Identically equipped, just different model years. The loan shows a 25,000+ tradeline, the lease half that. In other words, as far as my credit report is concerned, I'm getting a 25,000 car with only half the cost hitting my report.....
tbolt
Thank you for that.You gave me info I wasn't aware of.