Yes even if you pay your reg monthly payment and an additional 100-150 dollars extra a month it will reduce your interest over the life of the loan and pay down the principle ... just make sure that you tell them to apply it to the principal! 

Kinda but no. With my first vehicle my payment was 270 and I was making 300 payments. After a few statements I saw that half was going to interest. So I called and asked if I could pay only the principle. No, itd have to be at least 80/20, which is reasonable. Needless to say, I paid it off early. 

Now my second vehicle I got with a different place and theirs is 'unalterable'. So I'm making 500 payments on a simple interest loan. Meaning if I pay it on time then 40% goes to the principle but if it's late then the interest part receives more. As high as 80% to the interest. My last statement was 345 to interest and only 155 to the truck. 🤢

@Carl can you email me that formula you use? 

JoeyC9000 at gmail 

Thanks in advance