Tips for you:
1. Improve your credit score as best as you can before trying to refinance your loan. It can help to talk to a credit counseling agency to see the best way to pay off your debt and improve your score. If you can get your score raised, you may get a better APR when you refinance your car loan. Consider putting off refinancing your car until you can improve your credit score.
2. Refinance the loan along with a co-signer. Find a trusted family member or friend who not only has a good credit score, but is willing to take on the responsibility of a loan. While you will still be making the payments, they will be responsible if you default on the loan, so be sure to choose this option with caution. However, having a co-signer with good credit will help you refinance your loan even if you have credit problems.
3. Offer to put as much money down on the new loan as you can. A down payment on the new loan will not only help lower the car payments in the future, but also can help you get the loan you need even during credit issues. You may also get a lower finance charge per month if the lender sees you make the effort to pay as much as you can on the car.
4. See if you can switch lenders when you refinance your loan. Your current lender may be reluctant to lend to you if you are having financial problems, but you may be able to find a new lender that is more lenient. Talk to the car dealership where you first got the loan and explain your situation. They may be able to help you find a loan company that they do business with that will refinance your loan, even if you are having credit problems.