I am 21, a year and a half ago I bought a 2017 Hyundai Tucson at 60,000 miles from Carmax, it was my first vehicle and I was in a really difficult situation where nobody in my household had a vehicle. I currently have a principal balance of $14,476 at a 24.10% rate, paying $500 a month. I have a pre approval for $30,000 at 6% with $0 down and am currently looking at other vehicles due to the continued issues I've been having with the turbocharger on the Tucson not functioning even after being replaced. My current vehicle is valued at $4,000 with Carvana and I am looking to trade it in with them for a more reliable vehicle that i can have with the lower interest rate. Should I trade in my current vehicle for another vehicle that is newer and more reliable and get out from under the 24% interest rate or stay in my current situation and continue trying to pay off this loan.
Edit: My budget for a new vehicle is $20,000 since I will have negative equity and be upside down $10,000 on my current vehicle.
Edit 2: Both loans are 72 month loans.