Getting an auto loan to help repair my credit so I can invest

[George Torres]

This might be a dumb idea, so forgive me. My credit is terrible but I make good money and I'm looking for a way to build credit fast. I was thinking of taking out an auto loan instead of paying for my car in cash for the purpose of paying off my loan within 6 months and thereby (hopefully) help repair my credit score so that I can be in a better position to take out a loan and invest in RE. What do you guys think? Thanks, and again, sorry if this is a dumb question :)

[Tony Gunter]

Yes, it can help. Also get a credit card, even if you have to pay a fee to get the first one. Use it to pay utilities but always pay in full and on time. I worked this same plan and within 2 years of a chapter 7 (life threatening illness) I had a car, a mortgage on my new home, and a regular credit card again. Start small, make regular, on time payments.