Car Lease

[Victory24]

I recently traded my car for another lease, because the lease was up. My FICO score dropped with the old lease paid off and then the new lease added. How long does it take your score to recover? It was very disheartening to see my score drop so drastically. 

[Horseshoez]

Fact of life, you took a hit on at least one hard pull and a new loan, that will lower your score.  When I bought my current vehicle a little over two years ago my scores took a pretty good whack; they slowly climbed back up until last May when I applied and got a mortgage and two new credit cards, and now, finally, my scores are approaching where they were when I bought the new vehicle.

So, which of your scores dropped and by how much?

[Victory24]

@Horseshoez 

Transunion 734 to 707

Equifax 674 to 649

Expetian 650 to 636

My scores have recently started to increase due to accounts falling off my credit reports. 

[pizzadude]

Moved to Understanding FICO Scoring

[Horseshoez]

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@Victory24 wrote:

@Horseshoez 

Transunion 734 to 707

Equifax 674 to 649

Expetian 650 to 636

My scores have recently started to increase due to accounts falling off my credit reports. 

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Is it safe to assume those are all FICO scores and not Vantage?  As for the actual point drop, that looks like about what I got hit with when I bought my Tacoma.

[FlaDude]

You will likely get some or all points back at the one year mark when the inquiry ages out and your age of youngest account hits 1 year (assuming you don't apply for any other credit in the interim).

[Realist]

Did you notice anything like this prior, if you had leased any times before?  Or would this be the first lease turn in?