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Re: How to get the lowest payment?
I'm not aware of any banks or credit unions that allow you to make payments toward "principal only" like a mortgage.( On most auto loans that specify, you can make early payments without penalty and that payment goes to both principal and interest.) With that said, I think you'd do better putting the $10,000 down and financing the rest. If your credit rating is good you should be able to "shop around" between financial institutions to get the best terms in APR and length of loan. In my experiences, credit unions seem to have the best terms and conditions to get the type of loan you are looking for. Banks may not want to finance only 10K for 5 years whereas a credit union might be more willing to.
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