1) The car has to be within 7 years old to enjoy a reasonably good rate with car used as security. + ~. c. L3 z, }9 z J. ~2 _$ x2) Depends on your credit history and credit score. # ` h% P& {2 K2 Y' v" u/ M3) Depends on your relationship with the financial institution.* J, d1 F$ z- W' K$ K& Q
4) The only advantage you have is that you pays the cash, and can discount that from the seller. % ?6 j1 P5 y+ c! S5 R5) For cars more than 7 years old, the interest can be significantly higher because the collateral value is hard to assess. Good luck.