<prompt> Human: TL:DR;spoilerGot my first car, and loan. Loan is for 10k with 4 years to pay it off. Payments of 435 a month. How do I pay them? Do they take it out of my bank account? How do I do extra payments?spoilerIm 23 and got sick of not having a reliable ride to my 2 jobs so I went ahead and bought myself a car. I put 2,000 down and took out a 10,000 loan at the dealership. I make enough to be able to pay the loan off within the 4 years, and Im pretty low maintenance so Im hoping I can pay it off in 1.5-2 years.How ever this being my first loan I dont know exactly what goes on with paying it. I know by the 4 year period Ill have to pay 20,000. Do I have to pay off the full 20,000, or if I pay it off within a year do I only have to pay the 10,000? They said something about getting a refund for paying the loan off early.My bank account is at 500 right now with all my bills due at the end of the month, LoanCar InsuranceRentCellphone, and Im going to need to pick up health care that covers auto injuries so another bill. One of my jobs offers I believe full healthcare for 140 a month but I wanna shop around before I agree to that.My Current plan at the moment is to pay the RentInsuranceLoan for the next 3 months then start cranking out my pay checks into paying off the loan, stuffing aside 50-100 for foodsuppliesemergencies.My pay on average is about 1,509 a month, assuming I do about 240 hours a month and no overtime, and bills are about 1,252.Assistant: Youll get a bill in the mail. It will specify the minimum amount due, if you want to pay extra, just pay extra. The sooner you pay it off, the less interest you end up paying.This assumes you have a simple interest loan, which 99 or more car loans are. If you bought at a shady buy here pay here lot, then all bets are off.Edit: Wait... 435 a month for 48 months for a 10k loan? That cant possibly be correct... Did you also finance sales tax, warranty, or other add ons? Human: It was a pretty big used and new cars dealership, looked pretty professional, the car is nice and in good condition and runs nice.Assistant: What is the interest rate on you loan paperwork?Human: 23.99 annual.Assistant: Your payment should be around 325month. Whats the extra 110 a month for? Did you buy your insurance from the dealer too?Human: My insurance is from progressive. I got the paperwork right now.Annual Percentage Rate: 23.99 : Finance Charge 7,456.14 : Amount Financed 13,205.94 : Total of PaymentsAs scheduled 20,662.08 : Total Sale Price 23.162.08I was gonna put 2,500 down but they dropped it to 2,000 for me so I could get insurance on the car that day.Payment schedule, Number of Payments 48 : Amount of Payments 430.46 : When Payments are due, Nov 29, 2014 and same date of each following month.And I believe they added in an extended warranty of 1,380.Optional Extended Warranty or Service Contract.Oh and GAP Protection of 630 over 48 months.  <response>: I hope they at least gave you a reach-around after that.You got taken to the cleaners on this deal. Thats far too much car, and far too much interest for the amount of money you make. 