1) The car has to be within 7 years old to enjoy a reasonably good rate with car used as security. % `' o& H8 U9 I) ?+ L8 ?2) Depends on your credit history and credit score. % A5 }5 n7 [/ m; s7 _! E" e3) Depends on your relationship with the financial institution. / J7 T N! [# Z- l2 N4) The only advantage you have is that you pays the cash, and can discount that from the seller.. H: a" A* G. 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.