taestee

i got my 2002 TL in college, where i needed it quite a lot.
now that im out of school and commuting to work everyday, i rarely use my car (maybe 50 miles in a week).

my payments are about $450 a month, and i have about 40 payments left on it (out of 60). the down payment was $5000.

do you think at this point, i should ditch the TL and the payments and buy an old clunker thatll get me from point A to point B?

the kbb value on the car is ~$22,000 right now.

do you guys forecast the price of the TL depreciating a lot in the future given the tranny, rotor problems?

yield2s

you've already taken the biggest hit on price, from now on out its condition and mileage that will affect you most.

Love my 99

Is it a TLS?

Any car depreciates. How many miles? The things, I think, that makes these cars depreciate more than anything is really high mileage and overall condition. You won't get sh*t for it if it has 80,000 miles on it with dings and scratches and ripped leather.

If the mileage and overall condition are good or better than average than it will keep its value more than alot of other cars out there.

The tranny problems are covered under a special warranty (I've heard). I dunno about the rotors though.

In conclusion, if you like your car, keep it. I would keep the TL especially if it's a TLS. Don't buy an"old clunker". You just got out of college, right? What the hell did you spend all that $$ for if your gonna buy a clunker?

GOOD LUCK!!

2007AcuraRL

WELL, it depends on what your cash flow situation is right now. A new car takes its worst depreciation hit during the first 3 years of ownership, with the biggest bang coming after year 1. Since you already took the depreciation bath, just accept it for what it is and move on in your analysis. If you have a stable job that you think will last you for some time and you are a commuter, then you really dont need to pay $450 per month to drive to the train station. On the other hand, dont buy a really beat down car because you will find that you are constantly sinking money into it for repairs. The TL took a pretty bad depreciation hit since the 2002 model came out. I remember at the time i bought my 2002 that 2001's with 35k miles were selling for only 3 grand less than a new one. Now the first year hit is $5-6000. Times have changed and i dont know if the general public knows about the tranny issues with the TL (heck Consumer Reports still rates the TL a good used car to get - with all the rotor, tranny and body integrity problems, I think they are uninformed). So you really cant know what your car will be worth if you hang onto it.

In the end, if you are the kind of person that expexts to buy a new car every few years, then I'd get rid of the TL right now since it doesnt really fit into your lifestyle and you can always buy a new car down the road. Otherwise, keep the TL if you are planning to hold onto it after you have paid the remaining 40 payments.

taestee

hhmmm

thanks for the great replies. cleared up a lot on the issue of depreciation of the TL. i have a lot of thinking to do.

itsnotgreen

Why not refi it? I have refi'd twice and got my payment down to $333 from about $450 go to www.peoplefirst.com web site and check out the rates I think they are below 5% for like 60 months. Don't do e-loan I did them and hated the customer service I got there so I refi'd again with people first.com. No problem so far.

Blazin TL

great advice!