1) The car has to be within 7 years old to enjoy a reasonably good rate with car used as security. $ S- ]' ?* M! k9 H- ?2) Depends on your credit history and credit score. " F7 E. ]# q6 [# ]! M; o3) Depends on your relationship with the financial institution. / N) Y s Y2 r2 n0 X$ w" X+ J: A7 E4) The only advantage you have is that you pays the cash, and can discount that from the seller.4 {' H4 s9 Y0 T" F7 B8 L
5) For cars more than 7 years old, the interest can be significantly higher because the collateral value is hard to assess. Good luck.