[Trogdor]

Actually ann auto loan will start helping you establish credit after about a year.

Having an auto loan will affect your ability to get a second car, yes. Unless you make an ass load of money banks don't like to see open auto loans when you are applying for a second auto loan. In fact, a friend of mine has an open auto loan, with very little remaining on it. He is looking to buy a car from me, and even though he makes enough to buy his current car and the new car he wants in cash, the bank still wants him to close his first loan (its less than $2000 left).

P.S. the Luther's suck - don't even get me started on them.