When you take out a loan or agree to a Capital Lease, it is registered as a liability on your books and credit report.  This directly affects your credit profile, reducing your ability to borrow in the near future.  Additionally if you fail to make a timely payment it may be reported and reflect negatively on your credit profile.

Most Operating Leases are treated as an expense item, the same as a utility bill or other recurring expense.  This is disclosed on your profit and loss statement, but is not held against you as a liability which funding organizations are more critical of.

Operating Leases give you enormous advantages in terms of your credit rating, but also have positive tax implications in most cases, and a reduction in the amount paid monthly.