mshestop

well i have an 02 CLS. 65k. just got my tranny blown out. should have it back in a week. I have the extended warr. and not just the free one but I paid for the acura one till 100k.

so here is the question... from a purely economic point of view... do i

a) sell it as soon as i get it back, pimping the fact that i still have coverage till 100k to a possible buyer

or

b) sell it at 90+k

i think in general i need to sell it before the warr expires because this new tranny won't be any better than the old.

01bluecls

I plan on selling mine between 90-99k. Cars lose more value right when they hit 100k. Its psychological when the buyer hears that a car has 100k its automatically " a car has a 100k it has a lot of problems, wear and tear, and maint stuff to be done!" etc. etc.

I would keep the car for a lot longer if i knew the tranny would hold up after a 100k with no problems. I dont feel that safe. Selling it at a later time means you have owned the car longer and you are getting your money's worth. The older the car gets to some respescts the slower the depreciation will be. Just my two cents.

So i guess my choice would be "B"

123456SPEED

Can't really be answered without knowing if you own the car or have a loan on it., but it's almost always cheaper to keep a car than buy a new one. All cars devalue everyday, but most do not need new trannies so soon or have the bad rep that the automatic CLs have.
Personally I'd sell the thing before it continues to deflate in value, but if you like it keep it til it almost worthless.

mshestop

Well here is more info. I have a 5k loan balance still remaining.

I estimate that if I chose option a) I would be able to sell this bitch for 15k and if I chose option b) I'd be able to sell it for 10-to-11k. Does my assemsment seem reasonable?

01bluecls

Seems reasonable. Lots of variables. If you sell you car right now for 15 even, you will have 10g's in positive equity with no more use of your vehichle. If you sell your car when you have 95k for 10g's then at that time you should have the thing paid off and you have gotten another 25k of driving out of it and still have 10g's of equity from it. Like I said the the older the car gets the slower the depreciation rate is. B is more risky of course, as things do change, but in the end, you still get your money and you get more use of the car for the money you already paid.

Hope my gibberish makes since, as I do work sales at a dealer.

RaviNJCLs

iTrader: (4)

I would hold on to it for now.

ccannizz11

Hold on to it, have fun with, drive it till the mutherfckin wheels fall off.

Too many people look at their cars as investments rather than purchases. My car is a hobby, i spend money on it because it's fun to do the mods and use them. I guess you could call it an investment, but I get enjoyment in return instead of money. Whatever money i get when I'm all done with it, meh it's all a bonus, because whatever money i spent up to that point was well worth it. sorry for the rant

TypeSKid

Why wouldn't you just keep it?

Esp if you have no car payments currently. A new car is a bad idea financially unless you're made of $$$.

mystikk

Have fun with this shit, because you have one of the rarest Acuras. I bet you still get admiration stares, right?

Chopsie

Not far from being paid off, tough decision. It's not a bad car, it just got hooked to the wrong transmission

GreenMonster

The cheapest car out there is usually the one in your driveway... That being said, I can understand your dilemma. I've got a 6spd, so I'm planning on keeping mine for awhile. With an auto, and the tranny issues, that changes things. I don't know if 15K would make for a quick sale. Beetroot has a 01 w/ 53K miles on it for 14.5K and he hasn't sold it yet:

https://acurazine.com/forums/car-parts-sale-361/sold-2001-acura-cl-type-s-295654/

You could always advertise it and see what happens. If it doesn't sell, then keep it (or lower the price)

If your interested in a new car, you can always see what the dealer will give you for it...

KBB is probably not far off on used car values