NDFORSPD

Pay off your credit card fully man, no doubt your interest is like 18% per month, I never carry a cc balance cause thats how they make money. Also a great way to build credit is a line of credit(sry i didnt think of it before-Im assuming you guys have that in the States too), I never had one up and until last yr. The L-O-C helps you when in a jam, and so long as you make a monthly payment(3% of balance). The interest too isnt bad, 9.5% for me, 10.5 when I started. On the LT1, save up/wait for the car you want. i drove my parents rickety old station wagon for a full yr before i bought my TA, and event tho it took a while, i got the car i wanted in the condition I wanted. It was a fun yr(pffft yeah right) but it did help me to save.

All_out_06

the only thing is, my dad said he MIGHT co-sgin for like a 5500 dollar car +trade in on my car. cause thats alot less than 10grand. that way, ill pay on it for like 6 mos to a year, then by then they will see i have a car loan that i paid successfully on, then ill trade in that Z28 on another one 98+ in a year from now, so ill have like a 95 Z28 6-speed to "practice" with and to get used to the whole "fast car thing. then ill have my 98+ to mod the hell out of. what ya think?

l337_haxs

iTrader: (1)

Save up the money and pay cash for it.... Best way to go, having a car loan is not something that will be fun and you can pick up a ls1 for around 6-7k anyways so if you really save you should be able to get one pretty quick. And their is nothing like paying cash and not having to worry about a car loan!

Emerald Phoenix

iTrader: (2)

It really helps to have a co-signer. I got a $13000 loan last week at 5.9% and I'm 20 with no credit at all! Good luck with your search.

fa63

If you want to build credit, stop using cash and use your card for everything but make sure you pay it off fully at the end of each month. Also, call your credit card company and see if they will up your limit; having a high limit and using a relatively small percentage of it looks good on your score. I am 22, and have a credit score of almost 775 so just work on it.

In the meanwhile, try to convince your dad to co-sign for you by getting on his good side (clean the garage, mow the lawn etc...) and showing him you are responsible with your money. Good luck, buddy.

All_out_06

yea, im on his good side, its just his finances. he said if he co-signed for a 10k car, it would put him in a bind if he needed money for something. so i figured id reason with him, and get a cheaper car, but still a fast one. See...my first choice was a 94-97 T/A or Z28, cause it was cheaper, but then i figured out that i could get an LS1....but, it would leave me like50 -75 bucks a week....with the lt1 id have alot more money left over a week, so now im thinkin maybe i should just go with an lt1 for now, then get the ls later on when i would have no problem paying for it.

fa63

Sounds like a good plan; nothing wrong with LT1s.

All_out_06

arnt the lt1's a little fast on the bottom end than an ls1? and whats it take to make a lt1 stcik with an ls1...say... 30-100mph

darrensls1

They are about the same 0-70 and after that the LS1 pulls away. CAI and full exhaust is enough to make LT1's run right with LS1's down the 1/4 mile.

Summerwolf

iTrader: (3)

I had to have a co signer for my first loan too....no biggie man, but thats how most of it goes. I was able to buy my 2nd, 3rd, and 4th vehicles with no co-signer, and my ex wife who was 21 at the time we bought her brand new car....I had to co sign for her, she had good credit but had never bought anything large....me buying 2 s-10 trucks, a blazer, and a GTO helped a little bit to get her approved. Thank God she kept that stupid PT cruiser....lol. Starting out with credit is hard, but pay off your bills, maintain a small balance on your credit card for a long duration (like 100 dollar purchase, pay it off as slowly as possible) that helps build credit....one or two more years with how you're doing on credit now helps out a lot. My bank back home says I have the highest credit they've ever seen for a 23 year old, and that helps a lot when it comes to building my house in the next couple years!! Think about long term, even though you might not be able to get your dream car now....save money and eventually you'll get your car.

All_out_06

yea, i jsut transfered my balance to a lower apr credit card, and they gave me a $2500 limit whch 4 months ago i could only get like a 300 dollar one, so that says my credit is going up im thinking if i have a 5K credit card, ill buy like a 5500 dollar car, and trade in my car and put like 3000 on the credit card, that way i have a low monthly payment, and a good apr. and about the lt1 vs ls1 power, thats good to kno