How Does an Alfa Romeo Lease Deal Affect Your Credit Score?

May 5th, 2021 by

Here at Alfa Romeo of Birmingham, we often have Alfa Romeo lease deals for our customers to take advantage of. There are a lot of great reasons to enjoy these lease deals, and leasing is a great choice for a lot of drivers. But our Alfa Romeo finance experts often get variations of the same question about our lease deals: how will it affect my credit?

Alfa Romeo Lease Deals and Credit
Leasing an Alfa Romeo SUV or car can actually be a great thing for your credit. Here’s what to know about Alfa Romeo leases and your credit:

An Alfa Romeo lease can build your credit. Just like with a loan, a vehicle lease can help you build and improve your credit, making the next lease or purchase that much easier.
Regular payments are key. Missed or late payments can hurt your credit score, especially if it happens more than once. Talk to our finance experts about budgeting so that you can use your lease to build your credit!
Don’t be afraid of the initial drop. Because most drivers open a new account to lease a car, there might be an initial small drop in your credit score, but after a few months of regular payments, you’ll be on an upward trajectory!
Be cautious about paying your lease off early. This may sound counter-intuitive, but paying off a lease early essentially closes the account and can give the wrong impression to credit agencies, so be sure to do your research if you’re considering paying off your lease early.
Lease an Alfa Romeo Car in Birmingham
In addition to helping you get a fantastic vehicle, leasing an Alfa Romeo model can also help you build credit! To learn more about current lease deals, talk to an expert Alfa Romeo dealer. Birmingham, AL drivers can lease the sports car or luxurious SUV of their dreams at our Alfa Romeo dealership!

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