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A few years ago I refinanced my Mustang from my original creditor to my personal bank, and I was able to cut about 6% off my interest, cut it from a 6 to 5 year loan, and the monthly payment came out to be less. It was really a winning move for me.
I didn't have to use anyone else's name or anything like that. Banks typically will finance within a certain % of the book value. I was upside down a couple thousand, but because I was within they tolerance the refinanced for me.
That was way back in 2006 though before the current financial crisis. Banks are probably far more cautious and strict. Bottom line, just call your own personal bank and see what they can do for you.
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