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20000 car price x 60 months @ avg credit. = 400 a month for 60 months or 24k over 5 years total paid.
Now for 36 months at say 4.9% or so = 610 a month for 36 months or 22680 over 3 year term.
Now if you finance at this 3year term depending on the lending company...regardless of whether you pay it off in 1 month or 34 months....you still have to pay the full 22680 regardless!!
So finding a lending company that will adjust the total paid just because of early payment is what the key goal should be for what you are wanting to do.
Chris
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