Quote:
Originally posted by StormBerlin
So NoSoup, I'm lookin to buy a car. I'm eighteen, a full time student (with loans) and i work full time. So the car I want is roughly 13,000 after tax, licence, etc. They tell me I need a cosigner (perfect credit isn't perfect anymore if there isn't "car credit") so I had my mom cosign and they wouldn't give it to her because she is in credit counseling? That doesn't really click in my head, so some info on that would be nice. Also, I'm probably going to go with in-house financing with the dealership. People tell me to stay away from that because it wont build my credit, but the thing is, they will report every month to the credit bureau. So it will affect my credit, right? And another question about my credit card. I heard that a good idea is to pay the minimum balance every month on the card, then pay the full amount, close the account while it's in good standing and apply for another card with a higher limit Because it looks good to have many accounts closed while in good standing? Thanks for your help 
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First off - Wow... this has been gone for a long time, glad it returned, always willing to help!
Alright, down to business-
They may not accept her as a cosigner because people in credit couseling
generally have had either credit issues in the past or are having difficulty making their payments. They still should have checked her credit, and it may be delinquencies or the like that may have disqualified her.
As far as in-house financing, BE WARY! I cannot stress this enough. If the dealership will finance the car for you without the help of a financial institution, be very, very cautious with the paperwork you sign. I have never seen, although some may exists, a dealer that offers a decent deal when doing their own financing. Be on the lookout for "processing fees, application fees, dealer fees," and other bogus fees. Also, make sure that there isn't a prepayment penalty. I remember when I was purchasing my first vehicle, I wasn't worried at all about the type of financing I got, and it can come back and bite you in the ass. Make sure when you are going about purchasing a vehicle, you don't let your personal emotions get involved, and don't let the salepeople pressure you.
As far as closing credit cards to get new ones, that is poor advice. By having more inquiries than you need on your bureau, it will pull your score down far faster than any benefit you would see from closing an account while still in good standing simply to reopen another one. If you are worried about a higher limit, just as your current card holder to raise your limit, but heed the other advise in the previous posts when dealing with credit cards.
If I can help you any more, feel free to post again!