Yes.
99% of car loans are simple interest loans. You're charged interest each day based on the amount you owe. Your monthly payment is the interest that accrued during the month plus a portion of your principle balance.
The remaining 1% (or less) of car loans are pre-calculated loans. The interest over the entire life of the loan is calculated, and you are obligated to pay the entire amount even if you pre-pay your loan. (These are bad)
