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Auto Lease & FICO score

tag
800who
Regular Contributor

Auto Lease & FICO score

I currently lease a vehicle and was curious on how it affected my score and how it's represented on my report? Thanks!

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1 REPLY 1
Anonymous
Not applicable

Re: Auto Lease & FICO score

Do you use any sort of credit monitoring service, and/or do you have regular access to your FICO scores?  If so, you'd need a "before" score that you had from before you leased the car and then you'd need an "after" score once the account shows up, which could be a month or so.

 

The place that you go the lease through may have used an auto FICO version, which means that the scores you get yourself may very well not match... so it would be comparing apples to oranges to get an EX FICO 08 score from creditscorecard.com (for example) and compare that to the score from your auto loan... but a before/after of the same exact scoring model would be useful in knowing the impact of the new loan on your score.

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