Comments on: What does leasing a car appear on your credit as? http://www.cargearusa.com/blog/what-does-leasing-a-car-appear-on-your-credit-as/ Mon, 21 May 2012 17:49:07 +0000 http://wordpress.org/?v=2.7 hourly 1 By: Mortgagemom http://www.cargearusa.com/blog/what-does-leasing-a-car-appear-on-your-credit-as/comment-page-1/#comment-3238 Mortgagemom Sat, 21 Mar 2009 08:31:19 +0000 http://www.cargearusa.com/blog/what-does-leasing-a-car-appear-on-your-credit-as/#comment-3238 It shows up on your credit report as an auto loan, just like any other installment debt. The only difference I see between a loan and a lease in my industry, is that when there are 6-10 payments or less remaining on an auto loan, for purposes of qualification, the payment can be excluded as a debt since it will soon be paid off. But a lease is treated differently. Since the car will need to be replaced at the end of the lease, all payments are counted against the applicant regardless of time remaining to pay it off. As far as I know, they affect your credit score the same. It shows up on your credit report as an auto loan, just like any other installment debt.

The only difference I see between a loan and a lease in my industry, is that when there are 6-10 payments or less remaining on an auto loan, for purposes of qualification, the payment can be excluded as a debt since it will soon be paid off. But a lease is treated differently. Since the car will need to be replaced at the end of the lease, all payments are counted against the applicant regardless of time remaining to pay it off.

As far as I know, they affect your credit score the same.

]]> By: SPIFIMAN1 http://www.cargearusa.com/blog/what-does-leasing-a-car-appear-on-your-credit-as/comment-page-1/#comment-3237 SPIFIMAN1 Thu, 19 Mar 2009 04:46:34 +0000 http://www.cargearusa.com/blog/what-does-leasing-a-car-appear-on-your-credit-as/#comment-3237 It will show as a lease and it will be a installment loan just like when you buy one. It will show as a lease and it will be a installment loan just like when you buy one.

]]> By: AJT http://www.cargearusa.com/blog/what-does-leasing-a-car-appear-on-your-credit-as/comment-page-1/#comment-3236 AJT Tue, 17 Mar 2009 23:30:15 +0000 http://www.cargearusa.com/blog/what-does-leasing-a-car-appear-on-your-credit-as/#comment-3236 It looks the same as if you were financing a car. Your credit report will list the financial institution that you make your payments to, and the amount of your monthly payment. It looks the same as if you were financing a car. Your credit report will list the financial institution that you make your payments to, and the amount of your monthly payment.

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