1) The car has to be within 7 years old to enjoy a reasonably good rate with car used as security.& t& S% A8 ] M
2) Depends on your credit history and credit score. ! |. w l: y# \) \7 p3) Depends on your relationship with the financial institution.' x) F9 w9 T) N7 a9 d G
4) The only advantage you have is that you pays the cash, and can discount that from the seller. ' N* h' H5 E% W. n/ D$ D5) For cars more than 7 years old, the interest can be significantly higher because the collateral value is hard to assess. Good luck.