What happens to your credit if you “break” your lease all depends on how the deed is done. If you simply stop making payments, default, and wind up in collections, yes, your credit score will take a hit. On the other hand, if you satisfy the terms of the lease using one of the methods mentioned above, your credit won’t suffer even though you didn’t fulfill the length of the term. Bottom line: You’ll be OK so long as the lender wasn’t harmed financially