1) The car has to be within 7 years old to enjoy a reasonably good rate with car used as security., `% U) x a" c' U7 l' H
2) Depends on your credit history and credit score. 8 Y1 J! \ l' w, b2 a+ p3) Depends on your relationship with the financial institution. # ?0 D9 ^/ f, e& a- L' i6 f7 O; q4) The only advantage you have is that you pays the cash, and can discount that from the seller.; }& l2 F# W4 X2 \0 \
5) For cars more than 7 years old, the interest can be significantly higher because the collateral value is hard to assess. Good luck.