Help me make sense of financing

troubledwaters wrote:

Grit dog wrote:
And putting the money towards principle doesn't reduce the interest you pay unless you see out the loan. Or refinance to knock down the beginning balance.

Flat Out Wrong! Interest is always computed on the current outstanding balance on the date the payment is due. The outstanding balance may be more or less than what the amortization schedule says it is.

IF it’s a simple interest loan, so flat out nothing.
Do they do simple interest in vehicles now? I’ve never seen it. Last few loans I took out, from the credit union, albeit over 5 years ago now we’re not simple interest. They were amortized. Only simple interest loans I’ve gotten were corporate deals worked out to finance investments.
If I’m wrong and now car/rv loans are simple interest then I stand corrected.