1) The car has to be within 7 years old to enjoy a reasonably good rate with car used as security. B M5 {1 w) L: F9 I$ d2) Depends on your credit history and credit score. ( C; _$ G2 ~* i/ D) M* J8 n3) Depends on your relationship with the financial institution. ! p5 b, b! M' S% U5 V% Q9 F4) The only advantage you have is that you pays the cash, and can discount that from the seller.5 H% p# n, r+ n# V; u
5) For cars more than 7 years old, the interest can be significantly higher because the collateral value is hard to assess. Good luck.