The biggest issue with refinancing your car is whether or not you're carrying a lot of negative equity. If you are, then it's going to be really difficult to get any bank to finance you.
Only reason being is that the LTV is going to not even be close. Most banks won't carry any vehicle over 125% of its value from my experience.
I had a 2010 Mustang GT a year ago that I could not get my bank to refinance or anyone else either because of what I owed vs. what it was worth at the time. My best option was to trade it in for something brand new that had a lot of rebates to knock down the price further.
Luckily, I made that happen and most recently got my CU to refinance after 8 months with a better interest rate from 15.6% down to 8.8% for the same amount of time and dropped my payment $100.
Not sure if you have a CU you bank with or that may be available to you. But it's worth checking them out and seeing if they can pre-qualify you for the auto loan or refinance possibly.
My experience with the Cap1 refinancing is they will not take cars that have too high of a LTV. I use to get the letters to refinance my car and they wouldn't do it and I'm driving a 2016 Hyundai Veloster that I only had negative equity of about $3500 in right now.
So not too sure what Cap1's rules are with negative equity but seems like they maybe want none and want you to be on the upside when refinancing.
