<prompt> Human: Hey new to this subreddit. Just wondering if these high interest car loans to rebuild credit are a good thing to get into.x200B;So me being a 22 year old, I was stupid as a younger kid and didnt really take care of my finances as I should of. I am starting to rebuild my credit now thank god but in need of a vehicle. I have applied for a car and not able to get it based on credit history not many loans, and the ones I have, have poor history. I applied for one of these high interest loans, 27.5 on a 12k vehicle, vehicle being a kia rio hatch, vehicle is a 2017. I dont want to put myself into a car loan having the cost of borrowing higher than the price of the vehicle itself, especially trading it in after a year as suggested by the sales rep having huge negative equity carry over I understand youre going to get this with any vehicle, just this would be a lot higher than normal. Would I be smarter to build my credit with or without this, wait it out and get a vehicle at a lower approved rate 7. Im in Canada by the way. Also any tips on building the score at a more gradual rate would be appreciated.x200B;x200B;EDIT: I guess I need to add that I am not considering this solely on building credit, I do really need a vehicle.Assistant: 27.5 is a bad idea. 27.5 on something as depreciating as a car is a terrible idea. Read the credit repair link provided by the automod and do that. DO NOT TAKE OUT MORE LOANS SOLELY TO FIX YOUR CREDIT.Human: The purpose of the purchase would not solely be to rebuild my score, I am also in need of a vehicle. At this point I am thinking of just paying cash for a beater while rebuilding to apply for a car in the future.  <response>: Your second idea is much better than your first 