I went from a nearly paid off lease ($2,500 left) and leased a new car which showed a debt of $15,K and my rating dropped 47 points. It’s going back up, but no biggie.
100 points? Did you inquire about finance options? They may of pulled a few banks
No I didn’t ask. But I do see that the dealer ran my credit and BMW Financial. Is that normal? And I got recently got a new credit card so that’s 3 hard inquiries in a row isn’t it? Or is the dealer one a soft pull?
100 hard inquiries ain’t going to dent your credit score by 100…
When did you get the car? dealer normally check three bureaus Equifax, Experian and Transunion.
I took delivery on 1/29
do you know they paid off your jeep loan already? if not that may be the reason why your score dropped two car loans still in the bureau.
I Never rely on credit karma or other 3rd party apps as they are never accurate. I always run in to issues with some people whi have screenshots from these app, but reality is different when credit is run. 
Exactly! FICO is a monopoly, and their scoring algo is NOT open source. Credit Karma and the like are either in-house approximations or variations of the niche algos that most creditors don’t base decision on. ALL free monitoring will suffer from these various downfalls and you should not be alarmed at the actual score at all.
Credit Karma is in particular a Vantage 3.0 model which differs as follows:
- Ignores paid collections (as does the new FICO 9 model, although it is not as widely used as FICO 8)
- Weighs late mortgage payments more heavily than other late payments, though all can damage your score
- Allows just 14 days for rate-shopping for a car or mortgage (counting all inquiries in that time as one), compared with 45 days for FICO
- Makes allowances for consumers affected by natural disasters
https://www.nerdwallet.com/blog/finance/vantagescore-fico-score-the-difference/
Use monitoring for the factual data - Pay status/ AAoA/ Utilization/ Inquries.
Ignore the scores for the most part.
100 point drop when taking on new debt like a lease?? That’s too much…Something else coming into play here…like @28firefighter said, it’s probable the dealer paid off the GC late and you were dinged a late payment?
When you take on new debt, it’s true you’re score will drop but not by 100 points. Maybe 10-15 pts but should immediately increase after making 2-3 on time payments.
You know what I hate ? Getting dinged for 2 hard credit check pulls whenever getting a new lease. I find the dealer does a hard pull and then the captive also does a hard pull lowering your score. Not fair to get 2 credit pulls on 1 car. Has happened to me on the last 3 leases I’ve done. 
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