1) The car has to be within 7 years old to enjoy a reasonably good rate with car used as security.7 O$ M# X" s" W2 [- T% ?3 [
2) Depends on your credit history and credit score. * ?# ?& f2 m6 z% T9 m3) Depends on your relationship with the financial institution.( M6 [* ^6 r% }! R1 j" ?) J
4) The only advantage you have is that you pays the cash, and can discount that from the seller. l0 |% U8 a6 N. N. c: t) }: \. z: r
5) For cars more than 7 years old, the interest can be significantly higher because the collateral value is hard to assess. Good luck.