on3_mike

i have a 06 TSX with 11,000 miles... i come from a divorced family.. and live with my mom which recently got laid off... she wants to give back the car to the dealership after paying it for a year.. we owe $21000 more on the car.. she wants me to get a cheap car from a private seller.. will the dealership take my TSX back? she just wants to be clear from the tittle.. what is there to expect?

jlukja

I don't know the answer to your question. But, this isn't really a TSX specific question, it could apply to any car. Why don't you post it in Off Topic so that more people can see it.

iuharryhood

The dealer will buy it back in the same manner as any private buyer. They'll assess the value and offer you that much. If you owe more than it's worth, you're liable for the difference.

davidspalding

2006 with low miles, might be advantageous to sell it privately. She can't just "give it back" to the dealer and they assume the loan. But some people will sell a car for "assume the loan" terms. If the car is worth more than you owe, you'd do well to detail it, service it, and sell it to the best offer. Since the factory warranty is surely still left (with at least a couple of years on it), this is another strong selling point.

Granted, the dealer will probably be able to resell it as a CPO, so you won't have trouble selling it to an Acura dealer. Start there for convenience sake, but definitely get a Consumer Reports used car price report to find out what the car is worth if you sell it privately. Know that you will get less money for a car at the dealer than if you sell it yourselves.

bhamsan

If you sell it back to the dealer, don't expect to get much for it. Try doing what these people say and sell it privately, at least you'll get your money faster. It can't take more than a month to get it sold. Just use craigslist and autotrader. I've sold 3 cars on autotrader with no problem.

clee109

in suggestion to private sales, put it at high dollar, maybe 2K more than you want to get, so when someone bites you can do some "negotiating" and drop the price a thousand and you're still making a grand over what you wanted and the buyers feels like they got a good deal.

You wont get enough from the dealership. They'll give you KBB good condition for your car as is and you'll end up paying the difference

bhamsan

A great place to start looking for used car prices is here with Edmunds True Market Value rating: http://www.edmunds.com/tmv/used/index.html

I think dealers go by a different book called the "black book" that screws you even more than the blue book. Read it on a fat wallet thread if any of you are familar with it.

clee109

^^ You're right, I used to sell cars =) The dealership shows you a "KBB" printout and it is a bit different then what you would see because it's all factored in to make a profit for the dealership. To go into how it works is a long story. Rule of thumb, if you're not morbidly upside down and need refinancing at the dealership you are always better off to sell it privately.