[artizhay]

Holy...nearly 30% down and 6% interest? A credit union can get you a much better rate with either no down payment requirements or a lower down (5-20%) depending on the credit union.

I'm 20 and got 1.74%, so just shop around. Only put the money down if you can't get a better rate in investments elsewhere, unless required by the loan.

i.e. if you can get the loan at 1.99% with no down, the APY is roughly 2%, so you could find a 5-year CD at 2.5% APY and make a better return instead of paying down the loan.

But that depends on if you're in a financial state to pay $8200 in either loan down payment or investments. You have to decide if you'd rather take an $8200 instant hit or pay a bit more in monthly payments.