1) The car has to be within 7 years old to enjoy a reasonably good rate with car used as security.; S3 f$ c: J# k% e% i9 V
2) Depends on your credit history and credit score. 6 H: u5 B( O; B3 e8 @" k3) Depends on your relationship with the financial institution.( }% Q& c# _+ n! z$ ~& r
4) The only advantage you have is that you pays the cash, and can discount that from the seller.; P* P/ b2 J0 y
5) For cars more than 7 years old, the interest can be significantly higher because the collateral value is hard to assess. Good luck.