How does buying an automobile vs. leasing effect your credit?
I’ve done several lease assumptions, and found some very good deals. Now I currently have 700+ credit and would like to keep it that way. basically I’d like to determine what would impact my credit score more doing another lease take-over or drawing a 20k loan and purchasing a used SUV. Also, on a purchase I could make a significant downpayment if it will help.
There is going to be an inital credit score reduction just for the inquiry.. I’m wonder which would make a bigger difference buying used vs. lease take over.