1) The car has to be within 7 years old to enjoy a reasonably good rate with car used as security. ; d+ S% R9 U) { u) n3 v2) Depends on your credit history and credit score. 6 Q# f: U; T3 ]3 b3) Depends on your relationship with the financial institution.6 }2 [- j; U! C6 j( A. P
4) The only advantage you have is that you pays the cash, and can discount that from the seller./ ]/ e9 }: D2 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.