1) The car has to be within 7 years old to enjoy a reasonably good rate with car used as security.# K( H7 y9 [! J5 ^2 o
2) Depends on your credit history and credit score.: ^: z! \0 z" |
3) Depends on your relationship with the financial institution.# N! `- m7 h; }
4) The only advantage you have is that you pays the cash, and can discount that from the seller.3 B( S. r3 |8 c$ f" {+ ~
5) For cars more than 7 years old, the interest can be significantly higher because the collateral value is hard to assess. Good luck.