<prompt> Human: Im about to purchase my first car yei! and I have a few questions you fine redditors might be able to help me with. My monthly payment is going to be about 560 280 bi-weekly for 60 months. I know I can afford to pay more than that, probably 700 a month or more. I was wondering if theres any penalties if I do make a bigger payment than whats suggested, and if itll affect my credit scores in any way if I do choose to pay more than required. Also, if Im ahead in payments by a month or two because I plan to pay extra each month, does that mean I can defer payments if an emergency arises without any penalty? Do I have to inform the bank that Ill be doing that, or will they just be like meh, all the extra payments will make up for this month me guesses and go with that?Im sure this is a common sense question, but loans and finances in general is not my specialty!EDIT: Ive digested all the comments all of you posted, and it seems I need to rethink my whole buying a new car conundrum. I think Ill hold off on the purchase, until I can save up enough and put a huge down payment, or get a cheaper car although I need a truck for work, or go used not that many options in this small rock I live in, but will try.Thank you to all that chimed in, I havent posted a thread that brought so much ass whoopin ever, so this was a great learning experience! Ill get back to replying to a few of you once Im home from work. Thanks again.  <response>: After reading through this whole post, just a few more things to add:--you Can always shop around. There is the internet and car delivery services. --you lose probably 30 of the value of a new car when you drive it off the lot.--why on earth are you buying a pickup, unless you need it for work. Your gas and insurance alone Will add a ton onto your monthly costs for any car, let alone the one you have in mind. And HOW THE HELLO is a pick up that much? You realize dealers CANT SELL THESE THINGS right? I literally see 9k mark downs on new ones because they just want to move inventory. You must be wanting the top of the top of the line of trucks for it to be that much monthly. --that is so much to spend on a car payment. Does it include the extra warranties, taxes, ect? Seriously, unless you dont pay anything for housing, and make over 60k pretax, Im not sure how you Can justify this cost. 