1) The car has to be within 7 years old to enjoy a reasonably good rate with car used as security.* a+ z* w" E( f% w1 A9 X7 T1 E
2) Depends on your credit history and credit score. + _# i' v7 [7 K9 F/ _* _ `3) Depends on your relationship with the financial institution.7 f1 D, o, F# q2 ]- \3 N+ H* T
4) The only advantage you have is that you pays the cash, and can discount that from the seller.# Q2 M( H! b+ I+ O
5) For cars more than 7 years old, the interest can be significantly higher because the collateral value is hard to assess. Good luck.