Financing a Camaro, no credit history

[Splitter]

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

I wouldn't say CNN is a reliable source for any information.

Do what you want, FF. It's your life, you only live once (or so we're told), and try to make the best decisions you can.

[ASTEDA]

Originally Posted by FFMaro

Exactly, I am just asking if anyone would have an idea as to how long it might take me to build enough credit history to make my purchase.

I'd say a good two to three years for a loan that size.