We demonstrate theoretically and experimentally that Fano resonances can be obtained in terahertz metamaterials that are composed of periodic continuous metallic wires dressed with periodic split ring resonators. An asymmetric Fano lineshape has been found in a narrow frequency range of the transmission curve. By using a transmission line combined with lumped element model, we are able to not only fit the transmission spectra of Fano resonance which is attributed to the coupling and interference between the transmission continuum of continuous metallic wires and the bright resonant mode of split ring resonators, but also reveal the capacitance change of the split ring resonators induced frequency shift of the Fano resonance. Therefore, the proposed theoretical model shows more capabilities than conventional coupled oscillator model in the design of Fano structures. The effective parameters of group refractive index of the Fano structure are retrieved, and a large group index more than 800 is obtained at the Fano resonance, which could be used for slow light devices. (C) 2014 Optical Society of America