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No, this is a terrible choice.
For a $27k car if you put $7k down and get a loan at 3.99% your payment will be $368.24 for a 5 year loan. Over the course of the loan you'll pay $2094 in interest. So that is money that is just plain gone. The car will also decrease in value probably about 50%. So 5 years from now, you will have spent over $29k on a car that's worth around $13k-$14k.
If you take that monthly payment and invest it, then you will have somewhere around $22k-$28k in cash sitting in the bank (this is not including your $7k down payment).
How secure is your job? If you lose your job can you still afford car payments? If you get in an accident can you fix your car and pay for it if you can't work?
What if medical bills pop up? Will you have money leftover for the car if you have to drop a couple thousand on a procedure?
Also it makes no sense to "save" money for payments. That only causes you to lose more money in interest and you get close to the line of having to lose more money on gap insurance.
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