This is definitely a tough one. It would certainly feel great to finish up college with little to no debt, but what do you think the likelihood is that you will ever be able to build yourself another car like the one you have now? As many, many people on here will attest to, the world is filled with good intentions, but when push comes to shove, and you're working full time, have a family, have kids, etc, will you have the time and money for a new project, or to buy a finished car?
It would not make much sense to me to sell the car, pay off your debt, then jump back right in to debt to fund a new project. I guess the real question is, do you already have a plan in place to pay off your loans? If so, then I would stick with that plan and keep the car. If you feel like you need the money, and could get by without another car for a long time, if at all, then sell.
Best of luck on whatever you decide.