Is this a good thing to do?

I need to make some repairs on my car and get a few extra things. I'm pretty sure I have some credit built up when I was making the last few payments on my car. I also pay for our house phone in my name. Is it a good idea to try to go to the bank and try to get a loan for a few hundred dollars? I don't have a large paycheck. I've always gotten over $230.00 a paycheck every other week. I'm good at making payments on time. Or is it better to save up? If it is a good idea to get one through the bank, what should I look at? EX: interest rate, etc.

Answer:
If your car repairs and extra things aren't critical, save up! Getting a loan means you will pay interest on it until you pay it off, losing you money. If you save, the money in your savings account will earn you interest, that you get to keep even after you use the principle you put in to pay for the things you want/need.
Do look at interest rates and other charges - some loans are not at all straightforward. I would try my best to not get a loan, because you pay so much for it. If you can wait long enough to save the money, do so. Then go to Motley Fool, to learn all the pitfalls of borrowing, and how to avoid them.
I know Firestone offers 10% off your bill if you get their credit card. Some places offer no interest for 90 days. Shop for best price and terms and see how that fits into your budget.
This is not a good time for credit, rates are really, really high. If the repairs in your car can wait then do so and save money, unless, you get a brand new credit card with a special introductory rate of 0% interest for at least six months. If you can find one then GET IT!! since you said you only need a few hundred dollars you'll be safe making payments on it for up to six months with no interest accruing and since you also said you are good a t making payments. If you haven't had an actual credit card before, then your chances are that you'll get the credit card with the introductory rate, but the amount won't be a lot (but I hope it is enough) or if you already had a credit card (and still have it) then yes, you have built some good credit if you have used it and payed it on time and never top it or payed only the minimum payments. If you payed for your car always on time, it helps but it doesn't work the same, car payments is a different commitment than a credit card is. If you need more help email me, sometimes you need to be more specific to get the right answer.
It's ALWAYS better to pay up front if you can.
Save! If you get a loan, you PAY interest. If you save, you KEEP the interest. It's ALWAYS better to save than to borrow.

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