Refinancing a car payment???

Has anyone ever refinanced a car before? Is it a bad idea?

I have, several times, and I will not do it again. I ended up paying more than the car is worth.

Woth it only if you intention is to get your monthly payments lower while still keeping your current car.

Well since I worked in the automotive finance industry these are my thoughts and knowledge.
It first depends how far you are into the loan. If less than one yr its probably not going to happen. Why because the principal balance is still rather high and payments wouldn't be going down much.
How much lower do you want the payments to be? Basically you are just stretching out the loan on the car for another yr or two.
If you had a low apr loan it wouldn't make alot of sense because the interest rate is most likely going to increase and depending on your credit-it could increase quite a bit.
Have you looked into saving a bit of money on your auto insurance by increasing the deductibles for comp and collision?? Sometimes you can save a bit there.
Back to refinancing if you are currently with one of the captives like Ford Credit and want to go to a credit union or bank you can do so but just remember longer term-more finance charges in the long run. How old is the vehicle to begin with and how many miles are on it?? That will also effect how long you can refinance it.
How much do you want to lower the payments?? How long are you going to keep this vehicle??
If you need any more info let me know!!

I would say only do it if you absolutely cannot afford the payments and would lose the car otherwise. A friend of mine recently did a re-fi that rolled her house, car, and student loans into one and she's really happy about it, the payments are much lower since they lumped them all together and it shouldn't be that much longer.
Definitely shop around before you do anything and get a couple different options to see what's best. You also might want to meet with a financial advisor or a credit counselor to help you make the right decision.

You also have to be careful trying to refinance a car because a car depreciates in value. You could very easily be upside down on your loan (owe more than the vehicle is worth).

If it's a money issue, I would recommend getting rid of the car you can't afford, paying off the loan, and buying a cheap used car.

Thanks everyone! I'm not going to do it!!!

I've done it and recommend it! Depends how much you can save I guess, although your payment time will be longer again. I've done it in a pinch to save money and it's worked for me.