1) The car has to be within 7 years old to enjoy a reasonably good rate with car used as security. * W/ z7 w+ C" p! v/ w2) Depends on your credit history and credit score. - Z6 z3 `/ u) F' l `1 ~- e( j3) Depends on your relationship with the financial institution. , u8 X$ t, F2 v: f5 D3 o! C0 J# Q4) The only advantage you have is that you pays the cash, and can discount that from the seller./ W& X9 v* L) g: K V5 ?- m
5) For cars more than 7 years old, the interest can be significantly higher because the collateral value is hard to assess. Good luck.