Savings vs. Car Payment

I recently bought a new car because my old one was unreliable and needed constant repairs. This is my first car payment in over three years, and I need advice on whether I should focus on paying off the car loan early or continue building my savings.

Here’s my financial situation:

  • Household income: $210,000 a year
  • New car payment: $650 a month at 6.59% interest
  • Debt: Very little, just a mortgage and a credit card that I pay off monthly
  • Monthly expenses: Normal bills with no excessive spending

Monthly Contributions and Savings:

  • Brokerage account: $2,000 a month, current total of $450,000
  • 401(k): Maxed out yearly
  • College fund: $1,000 a month
  • HYSA Emergency Fund: $55,000 saved, contributing $500 a month, earning $178 in interest monthly
  • HYSA Fun Savings: $20,000 saved, contributing $1,500 a month, earning $47 in interest monthly

Given this, should I:

  1. Pay more towards the car loan to pay it off early, possibly reducing my monthly savings contributions?
  2. Stick to the minimum car payment and continue contributing the same amount to my savings and investments?