Well i went to look at a new acura yesterday and offered my 05 tl car in as a trade. The dealer asked where i bought my current car from and i told them it was a small in-house dealer. He said i should just take my car back to them, hand them the keys and tell them i did not want the car anymore and i could walk away.

I was shocked and he said it was because it was a "note lot" dealer and i was just paying them directly. I know the car does not show up on my credit, and would love to get out of a crazy high interest rate, but i dont want to dig a big hole just cuz the acura salesperson said it was good. Can anyone tell me if he is just trying to push the sale, or is he actually telling the truth?

Oh and the car i was looking at getting was an 08, white, non-navi, for $23900. it only has 10,000 miles on it. sound like a good deal?

 

the fuck kinda shady shit are you getting into?

if it smells to good to be true.....

 

No i know it sounds shady. Thats why i brought it here. I bought my existing TL a couple of years ago when my credit was shot! I had to go to a buy here/pay here dealer. I got a high rate. The car has been good, but just out of curiosity i went to a Big Acura Dealer here in Houston and they said my credit was back to good numbers and i could get a loan from them but they suggested i dont trade my car in, but return it to the note lot i bought it from.

It is a TOP acura dealer in houston, thats what got me all confused, he is saying note lots really cant do anything if u return the car, they just resell it on their lot.

 

Oh and the 08 is legit, full service history at the acura dealer, previous owner traded it in for an MDX. Acura Certified Pre-owned, so im not worried bout it being legit.

 

maybe some more wise members can enlighten us.

but, if it were me. I'd sell the car, pay off the "note lot" then buy the 08 TL.
which Dealership is it? the one on 59?

 

I guess it depends on if you are upside down on the "note lot" loan. If you are, then you'd indeed be better off turning in the car and walking away, if they will even let you do that.

If the car is worth more (trade in or private sale) than you owe on it, then I wouldn't walk away from the loan.

 

If the interest is really high like you claim it is you're probably wayyyy upside down on the loan. If the dealer took the trade in you'd have a lot of negative equity applied to your new loan so instead of paying $23,900 you'd be paying $33,900 depending on your existing loan. If you were to just turn the keys back in to the dealer that will probably mess your credit score up again.