1) The car has to be within 7 years old to enjoy a reasonably good rate with car used as security.& R/ f+ _ r4 t
2) Depends on your credit history and credit score." v6 @* ?9 j3 s7 p
3) Depends on your relationship with the financial institution. ; c" v4 C$ J/ v+ z4) The only advantage you have is that you pays the cash, and can discount that from the seller. 7 k1 J6 G: z ]3 t% r4 \5) For cars more than 7 years old, the interest can be significantly higher because the collateral value is hard to assess. Good luck.