1) The car has to be within 7 years old to enjoy a reasonably good rate with car used as security.6 {0 g' u ~8 l# o" z
2) Depends on your credit history and credit score. : E& T7 Z. z- A4 t" [) m1 G0 D3 ?; O3) Depends on your relationship with the financial institution.6 I! T, U+ Q; h( R5 h( ~
4) The only advantage you have is that you pays the cash, and can discount that from the seller.$ I4 P1 K: N& b( x5 z# Y3 E
5) For cars more than 7 years old, the interest can be significantly higher because the collateral value is hard to assess. Good luck.