We have a 2004 Honda Civic that we are paying $327.59 a month on. We still owe about $4800 on it. It is financed through Capital One at 10.55%. The "blue book" value is estimated at $6000 (online calculator).
Questions: Is it worth it to keep paying on it, or should we trade it in? If we keep it, should we try to refinance & get lower payments that would help us put more money towards paying down other debt? Would anyone even be willing to LET us refinance, in this economy/market? Our credit scores range from 600 to 660. I have never purchased a car myself, but it seems like we are paying too much, which kind of irritates me! 
We would like to get a newer car, as this one is starting to get up there in mileage (we are hard on it). But at the same time, we don't want to get stuck with a) a higher interest rate & b) a higher car payment. We also don't want to get stuck with a bunch of stupid inquiries & be in the same situation we are in at the moment. Should we just be happy with what we've got?
If you pay $342 a month for 1 yr, 3 mo, the car will be paid off and you will have paid $344 in interest over the year-ish.
If you refinance at say, 5% and still pay off in 1 yr, 3 mo, the payment will be ~$330 and you'll have paid $161 in interest.
So around $180 in savings - new title fee (say $15) and you save $165. I personally wouldn't bother with the hassle and the inquiries.
Also, 5% seems like a stretch with the current credit situation and those scores but I'm no expert 
So $165 is probably the very optimistic side of things. If it goes up to even 7%, your interest costs would be $227 and your savings drop to around $100. If you happen to have a good BT offer around this might be a good use for it, though. I would accelerate payoff if you can and keep the car. Those cars have a reputation for running forever and you'll be free from a car payment for like another 10 years if you choose. Wow, think how far an extra three hundred bucks monthly will go in debt pay down. Or in saving for your next car so you can buy cash.
I promise I'm not a DR freak. I'm just becoming really averse to car loans since the car just continues losing value and you'll just have to replace it eventually. Plus maintenance. Can't wait to have my car paid off, can you tell..