I have seen from being a lurker the powerful collective knowledge on the Board and perhaps you can give me some advice.

I bought my TLS in May 2003, Vin ending with 80xxx. In May 2005 the transmission was replaced at 21,000 miles. I had the transmission oil changed at 80000 miles (not flushed though) and the car now has 102,000 miles.

The car is overdue for the timing belt/water pump. Except for the transmission uncertainty the car has been a joy to drive and very reliable.

Two years ago my daughter took it on a trip. While driving she must have slipped it into sport mode and may have driven it for 100-300 miles essentially in 2nd gear. She did not call me until she got to the destination. She could not really describe what had happened except to say the "needle was up near 6000". She took it to the local Acura dealer to check the transmission. Everything was fine, it drove fine and no codes. My daughter drove it back without incident and I have put on maybe 7500 miles since then without trouble.

So do I keep or sell. I have the big expense for the timing belt/water pump and I do not want to end up then having the transmission go out. On the other hand the car seems to have a local trade value of only $4,600 and maybe a street value of $6,500. Not much for a fine car but more than the salvage value it will have if the transmission fails.

Thanks so much for taking the time reading this first post.

 

You won't get 4600 trade anywhere. If you don't want the vehicle you should sell it privately. If not, keep it. A dealer won't give you much of anything for a 10 year old car.

 

Hey Telz, welcome to the "lurkers in the shadows" !!!!

You have apparently owned your '03 since new. You're now at a crossroads, deciding if you desire to trade or keep the TL.
I strongly suggest not to bother attempting to trade it, unless you don't mind giving the car away.

At 102k, the car is still in it's prime......capable of another 100k with some routine maintenance. Get the 105k T-belt service done and put your daughter's episode behind you. Have the tranny fluid drained and refilled with Honda DW1 fluid, do a tune-up, check the under-carriage components and then just give the car to your daughter if you don't have a need for it.

Keep it in the family, don't let it go for a trade !!!!!
The TL's are mighty fine cars.

 

I've driven my '00 over 242K miles now; the only big item was two transmission rebuilds, one of which I payed out of pocket for (~$2500).
The way I look at, $2500 is a lot cheaper than car payments. Second, it's my car and I know the maintenance I've done so I'm comfortable and don't expect any surprises.

 

introduce the kids to the owner operator manual!!
change the atf to the new honda stuff, a full manual drain and fill method
NOT some machine running on dextron 3!!

look for honda dealer coupons for the tbelt, some will do our baby
clean egr system. adjust valves and throw a can of seafoam in half tank of gas twice

then enjoy the TL for another 100kmiles ++
there are ziners with 300,000 MILES and still going fine
try that in a new car...

 

I followed up with the advice and went to the dealer for the timing belt and the transmission oil change, asking them to look at a few other issues first.

I got a call from the service department with a list of the following needed repairs and problems. Evap Canister - $329 (check engine light was on); brake and fuel lines leaking - $1305 (I recently added brake fluid); right front sub-frame rot - $2500 (completely unaware of this); portions of the muffler system - $1,216 (it was leaking a bit of noise - not much); rear right stabilizer link - $249.97 (knew about this from last tire replacement).

All of this before getting to the timing chain or taking the chance on the transmission.

I paid the $103 for the diagnosis of the check engine light and took the car home. I always thought I took care of the car so I was surprised. I am in the salt/snow belt so maybe I should not have been.

They say the car will not pass inspection, but happily it is not yet up.

With all this in mind: Should I find a cheaper place to fix some or all of it, or trade for fresher wheels.

Thanks again!

 

I meant timing "belt". I am still worked up by the dollars needed for repair.

 

I would not do any of that on the Dealer thats for Sure...
Leave T-Belt to Dealer only (BUT GET THE PARTS YOURSELF!) Japanese "AISIN" is the maker of most of our T-Belt parts, Look it up on Ebay.

Then go to Private Shops and quote them for the same Parts Change.

 

I have owned three cars that I have each driven over 250K miles. I do a lot of business driving, mostly highway miles.

In the end, cars are not investments, rather another modern utility that needs to be analyized financially based on the service it provides. Regardless if you pay cash or with a loan, your total ownership cost is the price of the car, loan interest and maintenance repairs. I do not include gasoline in this analysis as that cost is constant, yet specific to the MPG of any given model. You take that total cost and divide it by the months you have owned the car to determine your monthly cost.

Take my 2002 TL Type S for example. It currently has 196,000 miles. I purchased it in July 2001 for $31,750 and have spent $13,286 in repairs and maintenance over the last 11+ years including one transmission rebuild. From 0-100K miles I spent $2157 in repairs and maintenance, however since 100K miles, I have spent $11,128 in repairs and maintenance. If I sold the car today at Kelly Blue Book value, I would receive approximately $3,900 for the car in "good" condition. Therefore, my total cost of owning the car would be $41,136 or $295 per month (139 months). At the current rate, I lower my total monthly cost around $2 per month the longer I keep it.

Now if you do the same math for a similar priced TL Type S with similar maintenance and repairs, but only kept it 5 years up through the 100K mileage threshold, the total cost of ownership would be $18,907 or $315 per month. The key factor being the higher average Kelly Blue Book resale price of $15,000 based on the car being only 5 years old with less mileage.

So for me, the question is whether or not driving a 10+ year old car is worth the $20 in monthly savings vs. buying a new car every 5 years.

I know this is just one example, however my 2002 TL Type S is in need of it's second S-belt, new shocks/struts and it might need a new check valve installed which only adds to the total cost of ownership. However, that cost only increases slightly to $296/month, even with a $500 repair bill.

 

You're better off running it down to the ground. It will last you a long time. Transmission may be crappy but you can always rebuild it or get a different one. My trans jerks often but im gonna fix that by doing the M/T way

 

What is the M/T way?

 

M/T = MANUAL TRANSMISSION WAY or AKA 6-Speed Swap.

Like you did I analized every possible option and It was not financially wise to sell the car for so Low (Its like give it Away for Free in most cases) When I have a car I dont think of my financial Options becouse like someone said a car is not something worth investing even HIPER CARS depreciate way faster than our cars so I look at them like another Luxury like an iPod or a Brand NEW TV its something you know its gonna lose its value like it or not.

You have a TL-S which is a very good car and by today standars still have enough grunt or speed to keep up with a Brand New car, There is no need to replace it unless your not fond to the car or you dont like it anymore.

If I was you I would Mod the shit out of the car (Bolt-Ons) Mods etc. and Enjoy it until it Dies..

 

Hey Telz, ya can pay now or later, but at the end of the day......it's better than taking on a new car payment, IMO
the TL's worth spending a few bucks on PM !!!!

 

Amen to that. Im in the process of getting parts for it. I already got the 6mt trans got it for a steal but needed minor work to it

 

Keep it and enjoy it!