1) The car has to be within 7 years old to enjoy a reasonably good rate with car used as security.( [/ z! r3 B" N) M" g s* C
2) Depends on your credit history and credit score. $ _# E* }# R- Q3 _3) Depends on your relationship with the financial institution. ( x* w$ p+ y/ w0 [% W) n8 }* i4) The only advantage you have is that you pays the cash, and can discount that from the seller.! e4 N8 {9 K/ H" e% B1 T
5) For cars more than 7 years old, the interest can be significantly higher because the collateral value is hard to assess. Good luck.