I have a 99-tlp taffetta white with 82,000 miles on it. I called the bank that I have the car loan with and I owe 11,100.00 left on the car. I love the car I have no probs with it. I had the tranny replaced once at 51,000 and it has been running ok ever since. I dont know if I should keep the car or trade it in and get something different since the miles is climbing and I owe that large amount left to pay off the car. Can some people give me some advise on what I should do. Thanks.

 

Well consider these numbers first

Private Party Sale

Condition
Excellent $10,420
Good $9,675
Fair $8,705

And with the market the way it is, I wouldn't expect to get anywhere near the $11,100 you owe. If you're willing to shell out $$$ to get out of it, go for it.

Oh and don't even think about a trade-in, I don't even want to show you those numbers.

 

Yeah man you are way out of equity, to get rid of it you are gonna have to shell out some dough.

 

Let me tell you, I have a 99 tl-p with 92k miles and the most I got offered for my car was about 8500 if I was going to get another one from my dealership. I have been a few other places but nobody else is coming close to that so good luck. I'm in the same senario b/c I want to trade b4 I reach 100k but I owe about 9800 which is not as bad but I don't know what to do.

 

If you have the money, take the loss....buying a car is not an investment where you make money at the end when you sell......than again, if you never had problems...why sell??

 

If you are planning on buying another car where you will wind up upside down then it's a stupid idea, just keep it till it's paid off

 

biggest mistake people do is just rolling over the loss into a new car, well, that loss just keeps multiplying and pretty soon you have an accord but are making bently payments. value isn't gonna go down much more over the next 18months, just keep driving it.

 

The reason y I was thinking of "selling it" was because of the mileage. I'm climbing to 100k and with the tranny issues.

 

i would keep it, put it up for sale for the price you want and see if somebody bites, but definately dont trade it in

imo the tranny issues arent that big a deal anymore. if you buy acura they usually will cover the cost or you pay labor. im at 107k and i have no worries about the tranny, im gonna call ACS untill they get me a new one

 

WTF ... how the hell does someone owe over $10K on a 7 year old car? You must have gotten screwed when you bought it (paid sticker and 9% interest). I wonder what that sales guy that sold you that car is driving now.

And before you ask, my 2003 IS paid off.

 

^^ thx for ur input pretty useless, but yea thx


well since u got payments, i dont know. if it was paid off i would keep it. i plan on keeping mine, but i might get a good deal if i trade it in, paid 16grand cdn when it was at 75k, now creepin to 100k and might get 11grand cdn if i trade it in wit my boys dad, at his shop......it all depends, u gotta do some hw and figure out what u want, and if u can afford the tranny or another new tl.

 

Owing 11k on a car that age is not unusual. He never said he bought it new.

 

whatever you do DONT TRADE IT IN!!

put up on craigslist asking the amount of you..if anything someone rich might bite, or someone will offer you a little less and you can take the loss

personally i would just keep. the cost of new transmission labor is around 1500-2000, which is less than what you would lose on trade in