Quote:
Originally Posted by stovt001
http://money.cnn.com/2005/09/21/pf/d...ores/index.htm
key highlight:
Furthermore, every additional credit application hurts your score as lenders take it as a sign you're preparing to go shopping.
And no offense, but 18, living with your parents, limited spending history means little experience managing money. Maybe you have no problems now, but the real test begins when real life begins and you're suddenly on the hook for supporting yourself. Those empty cards look mighty tempting.
Trust me though, there is a very good reason laws were recently passed restricting the ability of credit card companies to sign college students up for tons of credit cards in exchange for free t-shirts.
See also:
http://www.ctrlaltdel-online.com/comic.php?d=20060218
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I would talk to a finacial adviser at a credit union or bank and let them tell you how credit works for you and how opening up credit cards and having too much of an open credit line can work against you. It's your money and if I were you and was going to get the LS I would put as little down as possible to get the loan and set aside some. I told my daughter back when she was 17 that she needed to enjoy her youth and only wanted her working just to get the experience. But like all teenagers are and I was one of them we know/knew everything. Just a word of advise my friend, when those bills start coming in with your name on it while you are young this car is going to be a chick magnet. If you aren't careful you will be putting a baby in the back of it sooner than you would like.
Good Luck on whatever decision you come to.........but it's great that you wanted our advise because not all of us on here are as young as you are. With age and experience comes wisdom. Use your money wisely..
EDIT: I just found this on AOL
http://www.walletpop.com/credit/expe...r-credit-score