<prompt> Human: I just recieved 15k and have 15k left on my 5 year car loan with 4 years left and 15k in CC debt. The interest rates are higher on my credit cards so I figured its a no brainer to pay those off. The car itself is worth 25k if I did it today theoretically I havent been very good with my finances however in the past 6 months have curbed my spending and use of credit cards. I dont have a mortgage and live rent free. My car is the only thing of value that I own. With all that being said,should i pay off my car loan and own 100of it or pay off my credit cards. Is it possible to pay off the car, take out a loan against the car for better rate to pay off and consolidate my credit card debt? Is that even a good idea?  <response>: The interest rates are higher on my credit cards so I figured its a no brainer to pay those off. Ding Ding Ding. We have a winner.Do this right now. Do not pass go. Do not think about your car loan. As it stands, you actually asked if you should pay off the car loan, then take out a loan against the car to pay off the credit cards. 