1) The car has to be within 7 years old to enjoy a reasonably good rate with car used as security.: N( D& s2 I! D+ m% ~9 O" r
2) Depends on your credit history and credit score. , g1 p( ? d) C& |* A, B6 z0 F" E7 P, ]3) Depends on your relationship with the financial institution. 9 L% q2 R% K$ o4) The only advantage you have is that you pays the cash, and can discount that from the seller.; \' L) n- L: q7 w; a" A
5) For cars more than 7 years old, the interest can be significantly higher because the collateral value is hard to assess. Good luck.