<prompt> Human: What do you guys think of this? My friend is saving away money throughout him working summers in college and all throughout highschool to save up 30,000 for when his and his girlfriend graduate college. His plan is they both will buy brand new cars once they graduate and have the money to pay it off in full. He will cosign with his parents on taking out the lowest interest loan he can and handing them the money to pay off the monthly payments without worry. His purpose in taking the massive loan and paying the interest is having ALL of the money to pay it off and boost his credit score for when he wants to buy a house hell have a great credit score. Is this bullshit or a good idea?Bonus question! He also said that it affects your credit score if you spend more than 25 of the limit of your credit card. Bullshit? He also took out a student loan specifically to build credit when he didnt need to. SighAssistant: Terrible idea. Buying a car in cash doesnt raise your credit score. Sounds more like hes justifying a bad decision.Human: What if he bought it on credit? Maybe I missed that detail on the exact purchase detail. Its done solely to make the mortgage substantially cheaper. Edited Assistant: No, he would be better served by getting a credit card and paying it off every month on time. Getting a loan for the sole purpose of building credit is a silly idea, not to mention you dont need a 30k car to make loan payments on time. This is the kind of logic people use to justify decisions that theyd be embarrassed about otherwise.Human: Yeah I talked to him to get exact details again and I edited the post to be correct. Basically he will have all the money on hand. He will take out a co-signed loan with his parents to get a lower interest rate. He will give them the money to make the payments on time, everytime. He believes that paying on time, all the time over a longer period than just buying instantly will be a double whammy in terms of boosting his credit score.This is all in effort to have a great credit score to make buying a home easier.Assistant: He still just wants the car. Using a credit card and paying it off in full every month will have the same impact.Human: Well it be as quick? He plans to buy a house quickly.  <response>: Hes not going to get approved for a mortgage. Hes got no liquid capital thanks to his toy, has an unfavorable debt-to-income ratio thanks to his toy, and doesnt have two years income history. 