Capital One Auto Finance Federal Government passes HR 1054 1992 formerly Rule 78 [predatory lending] City of Industry, California

Using cap one you probably have a higher interest rate.  You gave the term (length) of your loan and the amount financed but did not give your interest rate. So assuming several different interest rates  I calculated some numbers using an amortization table to show your loan is not a rule 78 type loan but a simple interest loan.

The interst paid shown here would be if you made every payment on time.
At 21% interst you would have paid $7521.18, 23% $8324.72 and at 25% 9140.66.

I would assume your interest rate is between the 23-25% range given the amount of interest you said you paid.

Using the purchase price of $12149.44 at 25% interest the current outstanding principal balance would be $6890.15  Again if every payment was made on time. Here is how interest is calculated

6890.15 X .2500 / 360 = $4.78 per day interest  Multiply this number by 30 and you will have the amount of interest you will be paying in your next payment (4.78 X 30 = 143.54) 

Keep in mind this $4.78 is per day.  If you pay 5 days late you would need to add another $23.90 to the monthly interest charge (also called finance charge) of $143.54 bringing the total interest you would pay in your next payment to $167.44 plus there could be late charges as well. 

Your research on the rule of 78 is accurate but you really need to research how interest and principal is paid.  In any loan a portion of your payment will always go to interest first.  Every month less is applied to interest and more to the principal provided you are paying your loan on time.

The girl Cassy you talked to was probably is just some administration person in the office and really has very little knowledge of finance or even what the Rule of 78 so she wouldn't be able to tell you what she doesn't know.

Basically it comes down to this...you have a simple interest loan and are shocked by the amount of interest you will be paying. 

Hope this helps the next time you finance something

HR 1054 has to do with certifying midwives!  This has NOTHING to do with interest computation!

But without regard to that, if you have a 72 month loan (way, way too long) and for the sake of discussion the total interest is $5000 then what difference does it make if you pay the interest up front or in the back...it still needs to be paid!  The term of 72 months will be 72 months regardless of when the interest is paid.

But as a result of your vast knowledge of finance please tell us what difference it makes?