First time poster here so please be gentle. I recently purchased a 2017 Honda Hybrid Touring. I owe $41000 and the car is probably worth around $30000. I am able to put roughly $2000 to it a month. Interest is only 2.5% a month. What should I do? Pay off the car entirely and keep it, which will take roughly 2 years. Or pay down to what it is worth and sell it and then buy a used efficient car? This will take 5 months but I don't have cash to buy a used car and would need to finance it (Or save and figure out how to get to work).
We don't have credit debt, but we do have 2 car loans (wife's a lease), student loans ($30000 total), mortgage ($290k), and a home equity line of credit ($60k). We make decent money ($170k combined) and I want to make getting rid of my car payment my first step on to early retirement. We are putting the minimum amount in our 401ks to get company match.
I have a good idea what to do once I take car of my car situation. I'm just not sure the best financial solution.