Let me see if I can help !
Group III motor oil is just your normal DINO/pumped out of the ground motor oil that is ultra refined. Or as the refiners call it, Iso-dewaxed or Hydro-cracked. I don't really know if these two terms mean the same thing or if they are two different ways of getting the same end result. But anyway, whatever they mean, Iso-dewaxed/Hydro-cracked motor oil is considered Group III motor oil. This refining process changes the chain molicules of the motor oil to the point where the Group III oil actually rivals a true synthetic(Laboritory Created) oil. Our American Pertrolium Institute(API) allows the oil companies to call Group III motor oil "FULL or 100% SYNTHETIC Motor Oil. Many synthetic blends use a little bit of Group III in their blends along with whatever base oil they are using,(Group I or II). These Group III motor oils as it turnes out are pretty good oils. Most people are concerned that the Group III oils cost the customer as much or close to a true synthetic oil and the Group III oils don't cost as much money for the oil companies to produce. I don't really know how much it cost the oil companies to product it!
As Blue99 has suggested, do a search on these oils to help you better understand exactly what these Group III oil are and how they may or may not fit into your budget and needs.