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If you're really smart you'll pay as much as you can afford on the loan for the Fit to pay it off sooner. Every extra penny you pay when you make your payments will reduce the payoff time and interest paid. Remember, when you make a payment you are first paying the interest that has accumulated since your last payment, whatever is left over from your payment goes towards the principle. Any amount over the scheduled payment will add up fast in savings. Even splitting your loan payments into 2 equal payments twice a month insted of once a month will reduce your total interest that you will have to pay as well as reduce the payoff time. If you don't believe me ask any banker and they will tell you the same thing. The banks hate it when you make more than the scheduled 1 payment per month since they lose money on the interest they could have charged you.
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