Is it a good idea to pay off a car loan early?

My husband and I were thinking of paying off our car loan early, we've been paying on it for about 8 or 9 months and have never missed a payment. Our interest rate is 9.9%, the payment is $540 a month with little over half of that going to the principal. With all the negative equity from previous car loans,... show more My husband and I were thinking of paying off our car loan early, we've been paying on it for about 8 or 9 months and have never missed a payment. Our interest rate is 9.9%, the payment is $540 a month with little over half of that going to the principal. With all the negative equity from previous car loans, it added close to ten grand on top of the price of the car. The pay off balance is 26,718, is it a good idea to just pay it off, will it hurt our credit to have it paid off? I really don't want a car payment anymore. Any thoughts?
Update: with the bank I'm with, there's no penalties for paying it off early, when I called they were really trying to convince me it wasn't a great idea to just pay it off. they even said they would apply a $50 credit to my next payment, it made me second guess myself for a few minutes but we'll be paying... show more with the bank I'm with, there's no penalties for paying it off early, when I called they were really trying to convince me it wasn't a great idea to just pay it off. they even said they would apply a $50 credit to my next payment, it made me second guess myself for a few minutes but we'll be paying close to $40,000 for a 20,000 car with the interest and negative equity. Doesn't seem like a great deal to me.
Update 2: The car loan is our higher interest rate, we got rid of the credit cards last year.
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