I agree that having good credit is 100% important at any age, but one thing I'd do, is just turn around and put the borrowed amount in a CD at whatever is the best rate they have, and forget about it until the loan is paid back. You still will be out the cost of the interest on the car loan; probably 12% apr on the loan, which in a 3-year loan would be about $1080. But if you borrow the $3000 and use it for other things, you're out $4,080 for the same good credit boost.
If all you want is to build good credit, there are a lot of much cheaper things you can do, including the VERY BEST one, which you're already doing!!!! Having a credit card and paying it off to 0 every month, is what leads to platinum credit. A car loan is good credit too, but a car loan isn't any better for the record than a Visa or MasterCard, and if properly handled, the credit card won't cost you anything (except maybe for an annual fee of $50 or $100 if you're young with little or no credit). If you pay it off to zero every month, there is no interest. The car loan WILL cost you Big time. Also, think about the hassle of selling a car that has a lien on it. A lot of people won't want to bother to come look at the car, if you can't say "clean title; pink slip in hand" because there's a loan on it.
Charles
Please Scroll Down to See Forums Below 
