You want the lowest monthly payment and longest terms the loaner will allow. Then ask them what kind of down payment you're looking at to get there. I paid 10% down on my last vehicle loan if I remember correctly. I got a "monthly payment" of half what I expected to be able to pay and terms that were more than double the amount I figured on repaying it in.
As long as you have no early repayment fee all you've done is given yourself the maximum flexibility to pay it off.
You can put a "down payment" on a loan and then immediately turn around and make another payment once the paperwork is signed. You can have a monthly minimum of $100 and pay $300 every month. I don't know about other banks but with my credit union it was easy to toss money at the loan anytime I had something extra. If disaster strikes and you come up shorter than usual for a month you should be fine because coming up with the $100 minimum the bank actually expects will be a piece of cake next to the $300 you've been paying. The next month you can go right back to paying way over what the bill says and get it paid off early.
Of course this all assumes that you have an intention of paying off the loan to begin with. It doesn't sound like you do and I don't understand that.
* This post was
edited 04/25/12 05:40am by CathyGo *