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Yes. It shows up on your credit report as a co-signed loan. The up side is you will receive credit for a good loan on your credit report. The down side is if you apply for credit they will usually count that debt as yours since if the maker does not pay you are responsible and if they use any type of debt to income ratio to qualify that will increase your debt %.

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18y ago

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Related Questions

Can someone cosign a car lease for me?

Yes, someone can cosign a car lease for you. This means they are agreeing to be responsible for the lease payments if you are unable to pay.


Can you cosign a car lease for me?

I am unable to cosign a car lease for you.


How does a car lease impact your credit?

A car lease can impact your credit in both positive and negative ways. Making on-time lease payments can help build a positive credit history, showing lenders that you are responsible with your finances. However, missing payments or defaulting on the lease can harm your credit score and make it harder to get credit in the future.


Will there be an effect on your credit history or FICO scroes or mortgage interest rates in the future if you cosign for a car lease which is fully paid upfront for the entire lease period?

No. It should show on your credit report as a loan with 0 balance. However it could help if you paid 1/4 each month for 4 months if you have time as it would add to your good credit.


Are there companies that will cosign for you?

Yes, there are companies that offer cosigning services, where they agree to be responsible for a loan or lease if the primary borrower fails to make payments.


Cosign lease extension?

To cosign a lease extension means to become legally responsible for the lease agreement alongside the primary tenant. This includes agreeing to uphold all terms and obligations of the extended lease period as a form of guarantee for the landlord in case the primary tenant is unable to fulfill their responsibilities. It's important to understand the implications and commitments involved before agreeing to cosign a lease extension.


What type of entry is placed on a credit report when a bankruptcy petitioner reaffirms their auto lease?

The auto lender would show that the loan has been reafirmed or just simply show that payments are still being made thus you still have an active open account showing on your credit report.


How does a late payment on an apartment lease affect your credit rating?

Late Payment on Apartment LeaseA lease will not show on your credit report; unless there was a judgment against you.


What are the consequences of not making car payments?

If you do not make car payments you will default on your loan or lease. It will ruin your credit and end up with a repossession.


If you cosign for an apartment lease will an amount show up on your credit report even though you are not the primary borrower?

A lease is not an agreement to lend money, but to accept monthly installments in exchange for housing over a period of time. Since there is no debt, there is nothing to report on a credit report. The leasing agency will pull both of your credit reports to make sure they want to offer you the lease, and it may create a small address variance on your report (this is unlikely to be of consequence and will not affect your score) unless they make the pull with your correct address. Nothing from your leasing company will appear on your credit unless you default on monies owed (leave without paying a portion of rent or a deposit). If that occurs, they will usually sell the debt to a collection agency that will report you to the credit agencies. A lease is not an agreement to lend money, but to accept monthly installments in exchange for housing over a period of time. Since there is no debt, there is nothing to report on a credit report. The leasing agency will pull both of your credit reports to make sure they want to offer you the lease, and it may create a small address variance on your report (this is unlikely to be of consequence and will not affect your score) unless they make the pull with your correct address. Nothing from your leasing company will appear on your credit unless you default on monies owed (leave without paying a portion of rent or a deposit). If that occurs, they will usually sell the debt to a collection agency that will report you to the credit agencies.


Will your lease help build your credit score?

No. A lease is not a credit or "trade line" and therefore is not reported monthly. They will inquire on your credit but will not show up on your report other than in the inquiries and address fields.


Will it affect your credit if a car is repossessed after the lease has ended?

YES - the fact that the original term of the lease had past has nothing to do with it since the payments weren't made.