<prompt> Human: Im wondering if my wife and I should pay off her car. It is a 2006 Toyota Corolla S with roughly 104,000 miles. It has zero issues and runs fine. She bought the car in January of 2009, and owes 4,000. The payment is 300 per month. Her interest rate is 11.5 I know, she had poor credit back in the day.As for our financial situation - I finished college with 0 debt thanks to some generous inheritance from my grandparents, and a full time job that paid for the majority of my schooling. My wife was not so lucky. She currently has her bachelors and masters - at the cost of a 104,000k student loan balance. We pay about 1,100 per month on these loans. The average interest rate of these loans is 6.63.We are both 28, almost 29. We have no children, and no credit card debt.We currently have about 13k in savings, of which we contribute 1k per month to. We rent an apartment for 1,000 per month. Were not in a position to buy a house as we are living in a city for the duration of an employment contract for my wifes work. Put simply, were not really saving for a house at this time. We both contribute to our 401ks at 4. Our employers both match this contribution.Tl;dr - lots of loans, but 12k in the bank. Owe 4k on a car. What to do? Pay off the car and put the extra 300 per month towards my wifes student loans, or leave it as-is and pay it off over time?  <response>: There is no way I could justify keeping a 11.5 loan around if I had more than enough money to pay it off and still have an emergency fund. 