1) The car has to be within 7 years old to enjoy a reasonably good rate with car used as security. ~4 g# t8 t' m$ A7 y5 O
2) Depends on your credit history and credit score. & A8 q2 O0 f" D0 w, L) N0 V3) Depends on your relationship with the financial institution.* Y3 k- y/ Q7 {* v) t4 a
4) The only advantage you have is that you pays the cash, and can discount that from the seller.3 c( f$ y2 N, G" j7 S! R
5) For cars more than 7 years old, the interest can be significantly higher because the collateral value is hard to assess. Good luck.