Does a car lease under a company with me as a personal guarantor come up on a personal credit report? Just curious as a business loan to the company under my name as guarantor doesn't come up on my credit report.
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Does a car lease under a company with me as a personal guarantor come up on a personal credit report? Just curious as a business loan to the company under my name as guarantor doesn't come up on my credit report.
IANAL, but if you signed as a guarantor, and are personally liable, it will probably be on your report.
That depends on how the car was added to your name. If you are simply a personal guarantor based on trust or your job status (i.e. you make alot and signed to it), no. However, if they ran your credit to establish your ability to pay (which is generally the case) then it will result in a hard pull. As far as whether it shows as an open line of credit or not, I can't imagine so but you'd really need to talk to the dealership to see how they set it up (under your name being paid by the "owner" or under the owners name being backed by you).
- Ted S
IANAL. I think it will be on your report because it is standard practice to run a financial status check on someone posting a personal guarantee.
There are three kinds of men:
The ones that learn by reading.
The few who learn by observation.
The rest of us have to pee on the electric fence.
Im curious how it works- maybe I will go talk to the dealership. It will be a "company" car but assigned to me. Im doing this since the gas, insurance, and lease payment can be written off. It will save me a lot of money personally since I am paying soo much in gas to go to meetings ect for clients.
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