1) The car has to be within 7 years old to enjoy a reasonably good rate with car used as security. * S5 q; h+ g8 Y& P2 a7 E* d2) Depends on your credit history and credit score. $ @% y" U$ }) k3 S3) Depends on your relationship with the financial institution." [2 l; }( x9 a' d+ t- t) O
4) The only advantage you have is that you pays the cash, and can discount that from the seller. $ _% c) q# P* o1 p, d/ K# T5) For cars more than 7 years old, the interest can be significantly higher because the collateral value is hard to assess. Good luck.