<prompt> Human: I have about 14k left to pay on my 2013 Toyota Prius, but recently came into 14k. My girlfriend and I dont make too much money but would love to pay off the car in its entirety ASAP to lower our insurance premiums and potentially start saving for a second car down the line looking to buy my moms old Honda Fit for 4k. We tried refinancing earlier this year but because the loan exceeded value of the car we got denied everywhere. My question is should we pay off the 14k or would paying off some of it, trying to refinance then paying off the rest save us any money? Im really not too knowledgeable with auto refinancing so any and all help would be appreciated. EDIT: would the dealer lower the amount owed if we told them we were going to pay them off in a lump sum? Also thank you all for your advice so far, I wish I had found this subreddit ages ago!  <response>: Save yourself all the fees and hassle and just pay it off. Then put aside the money that used to be the car payment to pay for a future second car. 