I'm a little confused...

Vehicle purchase with loan, write a check for $20,000 to car dealer
Debit Notes Payable for $20,000
Credit Cash for $20,000

To set up the asset,
Debit Vehicle PP&E fixed asset for $20,000
Credit ? (what do I credit here)

Monthly payments
Debit Notes Payable $500
Debit Interest Exp $150
Credit cash $650