1) The car has to be within 7 years old to enjoy a reasonably good rate with car used as security.3 ~, V5 z! T s( q9 g
2) Depends on your credit history and credit score. , g+ ~" k) h5 U5 n6 z3) Depends on your relationship with the financial institution.& @8 y/ z) P( x( P5 f( l# R2 h2 _
4) The only advantage you have is that you pays the cash, and can discount that from the seller. - n9 h6 Y# @3 ?: U. o; G5) For cars more than 7 years old, the interest can be significantly higher because the collateral value is hard to assess. Good luck.