Should I refi?

[shalane85]

My current auto loan is with Capitol One at 17.95% for 60 months. I pay $266 a month for a Malibu which is only worth $4k trade in value. I'm upside down on this loan b/c I owe $7,990. At the time my credit score was really bad, low 400s. Now my mid score is 580. Would it make since to try and refinance or should I stick with it and pay it off now that I have 36 months left in the loan? Can I refinance with these low credit scores?

[Anonymous]

With a CU maybe, but depending on the company they only let you refi a percentage sometimes 125% of the cars fair market value.

If you are that upside down you might have to refinance a portion and pay the rest out of pocket to satisfy the first loan.

If you can afford it double up your monthly payment to the car and pay it off in half the time and call it your own "refinance plan".