1) The car has to be within 7 years old to enjoy a reasonably good rate with car used as security. " o; `( \2 z+ R3 J1 \ O* {2) Depends on your credit history and credit score. , c! l( D5 w# t3) Depends on your relationship with the financial institution.$ w7 n9 p7 n$ c: C. q+ t
4) The only advantage you have is that you pays the cash, and can discount that from the seller. + O# Y" }3 s( W! E/ j9 i' }) o5) For cars more than 7 years old, the interest can be significantly higher because the collateral value is hard to assess. Good luck.