Single Payment Business Lease

[Rshaw3]

Does anyone have any experience doing a single payment business lease?

Looking to lease a new Model X, but I need to keep my debt to income ratio as low as possible. I'll be purchasing a new home in the spring.

I have an LLC that I use for consulting work as a 2nd income outside of my day job, so I'm thinking if I single pay it under my LLC that would keep it off of my personal credit profile so it won't show up as a debt obligation.

Any info/direction here would be appreciated.

Thanks

Ron

 

[Joelhc]

Hey Ron,

We bought a house almost exactly a year ago and found out through our lender and tesla finance dept. that leases for some reason don't show up on your credit profile until you have a late payment. You might want to call and double check with them, things might have changed but a year ago that's the way they were handling it. Hope that helps.

 

[Rshaw3]

Thanks Joelhc.

Just to be clear, the tesla finance department told you that their leases don't show up on your credit profile unless you make a late payment? Also, did you go through a specific bank for your lease? I know Tesla often uses TD bank.

I recently came out of a Lexus lease, and that showed up on my profile from the start. No late payments made.

 

[garcialm]

Thanks Joelhc.

Just to be clear, the tesla finance department told you that their leases don't show up on your credit profile unless you make a late payment? Also, did you go through a specific bank for your lease? I know Tesla often uses TD bank.

I recently came out of a Lexus lease, and that showed up on my profile from the start. No late payments made.

I've leased multiple car and they call showed up on a credit report.