1) The car has to be within 7 years old to enjoy a reasonably good rate with car used as security.% w8 Y/ }# c) Q" i9 L4 `
2) Depends on your credit history and credit score. 6 C7 L* f: ^/ U/ |7 f0 l0 [$ k3) Depends on your relationship with the financial institution. + a: i# g. c, ?# W4) The only advantage you have is that you pays the cash, and can discount that from the seller.& n+ I1 [2 _4 j8 J; P
5) For cars more than 7 years old, the interest can be significantly higher because the collateral value is hard to assess. Good luck.