I am going to lease my car. I have been told that leasing will raise your score more than financing. Is this true? I don't remember the reason why. Any thoughts? The dealer is Honda.
I only drive 7500 miles a year. I had my old car 3 1/2 years and only drove it 19,000 miles. Actually, thats only about 5500 but I transfered to a different school so it will be a little more. I am figuring on 7500 -8000. Thanks for the warning.
Maybe it does. All I know is the total value of your lease is submitted and each monthly payment brings it down until the last payment equals zero. How that helps your score, I don't know for sure. This was the case with Toyota.
My last car was a lease. It showed on my CR's as an Installment account. Although the name of the company was "FIRSTAR NA RETAIL LEASE". Other than that it looks exactly like my current car loan. pat
