I agree with Yes-Its-Me about the mailers that come from Capital One - or any one really. They are a marketing ploy to get you to contact them. IME Capitol One is funny with their vehicle loans. They turned me down a couple of years ago (on a purchase, not refi) and my score was in the low 700s and the CPO vehicle I was purchasing had 23k miles and was 2 years old. So I don't know what criteria I had that turned them off - but I found financing with my bank,Chase, at a good interest rate.
So a turn down by one lender doesn't mean you won't get financing with another lender. It just might mean that your criteria doesn't fit their portfolio at the time you make application. Don't take it personally.
Having said that - go over to the rebuilding forum and see what you can do to bring your scores up so you have a good chance with a CU in the future.
Also work on putting aside funds so you can bring cash to the table if you are able to refi. If not (due to loan balance and vehicle value), you have the cash set aside for when you sell the current vehicle (private party or Carmax purchase department). I am assuming you will be upside down with your current rate - but if you get your self into position, you can sell the vehicle and get a new(er) one with better terms. This is a long term solution, but it will get you out of the high interest loan on your current vehicle. This whole process might not take nearly as long as you think. Some people have been able to get 50 to 100 points in a relatively short time. Think a few months, not years.
