1) The car has to be within 7 years old to enjoy a reasonably good rate with car used as security.- M+ b/ c: m% p0 \4 X7 X) ]& R6 V
2) Depends on your credit history and credit score. # v' R% {% f9 O* Z5 ^' w7 J3) Depends on your relationship with the financial institution. 9 }! ~6 y) Q+ m! u( ?5 e4 L4) The only advantage you have is that you pays the cash, and can discount that from the seller.1 D/ C# O2 O( k9 h8 O
5) For cars more than 7 years old, the interest can be significantly higher because the collateral value is hard to assess. Good luck.