Ok guys I only have about 8k worth of miles on my car, It's in excellent condition. No mod's or anything. I was wondering what would be a reasonable asking price of a new TL-s from the dealer?

I'm located in NYC. Or should i just keep the car and wait.

 

honestly, if I were you, I would wait to see if the 09 TL is a hideous disaster following the path of the RL and TS-unseXy.
8K miles, man, now i dont feel so bad, i got 8700 miles on mine

 

yeah, i agree with ankur914.........

wait and see what it looks like on the 4G TL....

And they probably will have a sale or easy to deal on 3G TL once the 4G TL comes out

 

I guess you mean help trading in 06 tl for 08 type s

if you paid 34k after ttd for the 06 and the dealer says they will give you 30k for it... you will have to add the 4k either on the spot or finance it...

for logical purposes you will want to put the difference as a down payment and have the dealer work out the numbers with you so your monthly payment won't be over $150 than you are already paying

 

I owned ( financed ) 05 TL and had 2 more years to pay off.

I was keep getting mails that 05 TL has to be recall to get fuel system has to be repared which I didn't do. ( laziness ftw )

I had about $15k left to pay that off and went to dealership and switched it to 08 TL-S!!

They gave me $17k and $1k for Honda trade-in reward ( I financed it from Honda )

So I could down paid about $3~4k to my new 08 TL-S.

And put it under my name so incoupd build up my credit. Higher APR...T.T

So now, I'm paying $120 more than what I usually paid.
I'm happy with that. Better navi, quieter cabin, FASTER!!!!

 

How much you paid for your 08 TL-S?

 

I'm wondering how much trade in value would i get for the 06 tl with 8k miles on it

 

I bought 08 TL-S for $36 with tax.

My low-credit kinda hurted my wallet but hey.. For future.. LoL

Did you pay off your whip??

My 05 TL had 70500 miles on it ( in 2 1/2 years .. )

It you paid off, you should probably able to pull out around 27~30k depends on how you play the dealers.

 

As a reference. I was offered 25k for my 06 Auto Nav w/8k and this was about 6 months ago. Needless to say. I kept my car

 

^total rip shit

 

That's a fair price considering I see 06 TL Auto NAV with 25K miles selling for $23,000 in CT.

 

If you've owned your car for two years and have 8000 miles... You should sell it and take a cab. Seriously. Your paying a note and insurance on an assets you hardly ever use, which is rapidly depreciating. That's just throwing money down the drain for that car to sit in the garage and do nothin.

Your car depreciates dramatically every year, regardless of the lack of milage...

That's what i woud do anyway.

 

That's why I make a point to put an average of 35k miles a year on my car. If you're gonna own it... use it! Ha ha.

 

Some people who own cars but do not put a lot mileage is paying for convenience. I have just over 10k miles after 2+ years of owning it but I would not get rid of it and just take a cab everywhere. Would I have chosen something else maybe cheaper then if I knew that I would not be using it as much as I thought? Yes, probably. If only they allow street parking in the city then I would have more normal useage

 

Im sure cars that have a lot less mileage look a lot better than those with a lot more..and yes in way better shape too....I store all my summer cars anyways...so I usually average about 5-6k per year...I love my winter car 02 Chevy LS coupe

 

Statements like this are a laugh. The REALITY is that when this guy refinanced, he got another LONGER term note. In truth, he got very little out of his original investment AND added another 24 months onto his pay off. Not really a good deal but he seems happy with it?

To the OP, you can probably expect about a $10K reduction in original value (If you paid $34K for it, don't expect to get any more than $24K out of it from a dealer). Also, the 2009's aren't out yet so "what are you talking about? An 08 instead"?

 

correction,he's paying on a "liability" he never uses.Assets earn you money,LOL

 

I converted over to being a public transportation sardine a little over a year ago I miss my TL, we onlly get to spend weekends together

 

Oh yeah? I bought 05 TL w/ navi for $34.8 after tax.

I had $15k to pay it off. I been paid little over $ 20k and got about $18k trade in value. And 08 TL-S for $35 after tax?

Tell me that's bad deal , smart ass

 

OK, since you asked SO nicely here is the breakdown. You Paid $34.8 after taxes for your 2005 TL w/NAVI (as stated in your first sentence). You then traded it in for a trade in value of $18K. $34.5 minus $18.0 equals a COST to you of $16,800 in those years. However, you decided to buy a new 2008. That's OK as it truly is your choice. In that process you appear to have gotten about $3K as a down payment on your new car PLUS another 48 to 60 months of payments. In other words, your not making any headway but you are driving a newer car. People who do this would often come out better by leasing a vehicle than buy buying and then trading before the end of the term.

However, in my case I paid nearly the same thing as you did in 2004 for my 2004 with Navi ($34.6K) but here's the difference.... I put $6K down and paid mine off in 48 months. Current value of my car is still $19K according to Kelly Blue Book. My equity after 4 years is $19K. Your equity after 3 years was what, $3K?

The economics lesson is now ended.

 

yeah. Leasing would be the best option if you change your whip in 2~3 years but hey. Its a NEW car. Thats all that matters

and thanks for the lesson that I have completed when I was in kindergarden.

Have a bless day.

 

Sure... but again, you agree with my point. Paying that much for "conveneince" doesn't make a lot of sense. Buy a cheap beater you don;t care about to scrape around the city.

and let me get this out there. Yes, i know, it's the OPs money, he cand do whatever he wants with it, blah blah... He asked for help, I'm providing my input, rather you agree or not.

correction, correction...
assets are something of value (rather they make money for you or not), at least according to MY tax man and recently filled out financial disclosure form (the things you have to do for some government jobs... )

The monthly note is the liability...



Sorry kpmeth... you lost that one... Nadabunka is dead on. Your "approach" to credit is the American mindset that has caused the "credit crunch" our economy is in... extend extend extend... oh shit, i'm over extended and upside down on everything.

Using words like "whips" and making statements like "it's a NEW car, that's all that matters" isn't helping your point. I hope you find you get out of dept before your 50s. You have a blessed day too.

 

I don't know if I should get into the discussion here, but I have and 05 tl w/o navi and still have to pay 20,000 until it can be mine. I see a lot of people trading in their 04s, 05s, 06s, even 07s for the new 08s and put down about 3 to 5 g's but not me. I thought instead of doing that I should enhance my car. I spent about 5g's for body kit and rims which now is paid for(I mean credit cards). Now if I want to sell my car private, I got an offer for 25,000. This will pay my car and the 5,000 for the kit and rims I spent for.
Now, I think this is how we should make our money work for us.
I know I'm not making any profit, but on the other hand I will have no debt at the end.

 

KPMETH might have to go back to Kindergarten (notice the T in Kindergarten) because I think he was sick that day! LOL

 

Why do a trade-in over selling it privately? I've only bought / sold one used car privately, but trade in value is always less than private party value.

Copy and paste from KBB.com 2006 TL w/navi 8k miles

Trade in Value
Condition

Excellent
$23,125

Good
$21,885

Fair
$19,715

Private sale
Condition

Excellent
$27,155

Good
$25,705

Fair
$23,840

Selling a car after two years of use is a hard hit on you. You've held the car during the largest depreciation period and then hand it over to the dealer for a hefty profit on their part. They already profited off you buying the car new, and if you trade it in you'll be handing them another 3-5k of profit.

My case: bought my TL w/navi new in 2006, about 33k out the door. Loan interest over the 1.5 years to pay it off cost me about 2k. Total cost was 35k. If I sold now privately, I would have spent about $8000 for 20 months of owning the car. That's like a lease of 400/month with no down payment. And for the TL, I believe that's a pretty good deal. In the case of a trade in, well, the deal looks a bit more poopy (about 600/month). And those cost numbers are assuming you had a fairly good interest rate on your loan.

Conclusion: if you must convert to 2009 (which personally, I wouldn't...especially since you don't really drive it much) sell privately.

 

And here is my question.
Since we still pay to the bank, can we sell the car privately? We have no title.

 

Yes. Just go to your bank with the prospective buyer and as long as you/the buyer can present a certified bank check for the payoff they will usually issue a lien release on the spot.

 

That is not making your "money work for you". Rather, it is "financing unnecessary debt" and is actually a PERFECT example showing what NOT to do. Case in point.... What is the interest rate on those credit cards? I can GUARANTEE your interest rate (no matter what it is) is HIGHER than the interest rate on the primary asset. By using Credit cards for "accessories" you have done yourself even WORSE than the OP. You're inducing unnecessary cost IN ADDITION to your original cost. That is a BIG no-no. If you MUST add things onto these cars you should ONLY do it with excess cash or at the VERY least be a little bit smarter and use a home equity loan (i.e. most likely the lowest interest rate you can get.. mine is prime MINUS 1 point) but in any case, it is lower than most any other cost of cash available to most people. If you did find a sucker (er, ah.... potential buyer) and can "get out from under it" then you should dump it (and FAST) but when you do you MUST first pay off those credit cards BEFORE you do ANYTHING else otherwise you'll be just one more American who has more debt than assets.

 

Dam this is such a heated debate with so many good pointer from you guys THANKS.

I bought my car in the summer of 06 for 33k before tax w/nav. I still have about a little less then 14k in loan with like a 5.6% interest rate. and my payment is about 300$ a month, but usually i throw in 1k a month just to pay it fast.
I'm think about going in the dealership tomorrow and see what i can get for a 08 tl-s and see what the car value in their eyes will be and i'll go from there.

Since Acura has some incentive going on this month I don't think it'll be that bad, but we'll see.

I would love to take a cab back and forth as you guys suggested, but the truth is, a TL is some much more relax and convenient especially when your driving and having fun with it!!!
I live in Brooklyn; you can't really hale any cabs here unless you’re in Manhattan.

 

If you're savvy at buying cars feel free to ignore everything below...

But be sure you negotiate the price before you talk about trade-in value OR interest rate / payments.

If they know that you're trading in, they will play confusing games with trade in value, loan payment, and sale price of the car. You may think you're getting a great deal on your trade in at say 28k, but then they will hold you to MSRP on the '08 tl-s. You might go as far as to park off the dealership parking lot and walk in, or to say that you're buying a new one for the wife.

Any trade-in has to be a profit for the dealership. If you do a trade-in, it serves them. Sure, it's convenient for you, but I would bet money that you could get easily 2-3k more for it by selling privately. Keep in mind, that 2-3k difference in price of the used car can easily be hidden by a higher trade in value but also a higher loan interest rate and/or sale price of the new car.

 

^^ tried to edit this in, but here it is

Example:

Lets say they have set the minimum price of the 08 tl-s at 35k this month. I can't recall MSRP off the top of my head, lets just pretend it's 38k. You go in for a trade-in and tell them that up front.

They could offer you these deals
23k for your car
35k for your 08 tl-s
loan interest of 5.6%

They profit off the sale of the car, and they make 2-4k off your trade in.

They could offer you
26k for your car
38k for your 08 tl-s
loan interest of 5.6%

You got more for your trade-in, but paid more for the car.

They could offer you
26k for your car
35k for your 08 tl-s
8% interest rate (by just giving you a low payment and a long term loan)

You think you're getting a good deal, but they make their money with the payment plan.


This is why I am very against doing a trade-in. It's convenient, but I'd rather not double or quadruple their profit.

 

I'm not sure if anyone mentioned this yet, but I think with a lot of companies the first year of a new generation always has problems...and isn't it supposed to be ugly?

 

that's why i am willing to wait out till the second year of the 4G TL ... besides, the 3G runs great so far & no regrets ...

 

I completely agree with on taking home equity but I disagree with your BIG no-no thing on credit cards. Yes, credit cards have APR and sometimes really high APR. The reason I disagree is because when paying with credit card we should know how to use them. I think I know how to use them because I have not paid even a penny in interest. As you might go with home equity you end up paying interest and even more you are taking an equity in your house when you might want to use on remodeling or something else.

 

I just sold my 08 TL-S for $34K with 8,300 miles. Car was mint. I just got another 08 TL-S for $33,221 + TTL. Yous hodulbe be able to geta TL-S for $33,852 until MArch 31. Acura has $2K rebate to dealer and most dealers in ATL area are selling at Invoice which I beleive is $33,852. I got it less due to some issues with my dealer.

 

My buddy just traded his 07 TL with navi with 26K miles on it and got around $26,500, the TL is amazing with resale!!

 

I agree with you but you may want to re-read his statement. He says that the upgrades are "paid for" (and by that he means that the cost of them is on the credit cards, not that he paid off the credit cards as you have). He further re-inforces this by stating that his mods were $5K and if you add that (existing) cost to his current value, he "breaks even". What he doesn't count in his loose calculations was the cost of that $5K on his credit card. And that was the primary point of my comments. Even if he can sell it for that fairly high price, he does not REALLY get it all back, he still paid the high credit card interest rate for those mods. I use credit cards myself and just reviewed what my interest cost were for 2007 on my regular one. It came in at $38.40 for the entire year. I do have one of the lowest rates possible and also "typically" pay off any usage monthly but every once in a while I'll charge a ski trip or Golf trip to it and pay it off over a couple of months. In contrast, it looks like the subject of my comments still has a $5K balance and is (most likely) still stuck at a high interest rate (like 17% or more). 17% of $5K is an additional cost of $850/year.

 

Glad to hear that you do pay yours off. I guess I mis-read your post. I usually also pay mine off but did pay $38.40 in interest on my cards last year.

 

I call BS. Your saying here that you paid less for the BRAND new TL-S than you got for your USED TL-S w/8K miles? Who's the sucker you sold it to? I have a bridge he needs to buy as well as some Nevada beachfront real estate. I do KNOW that others are paying the $33,500 for the new TL-S's but you being able to sell your used one for more than that figure simply reeks of BS

 

now it sounds BS, but I can provide a copy fo bill of sal, it is funny it was an exotic dealer that bought it, my guess is they deal in expensive sports cars (Porsche's), had a buyer looking for a TL-S say mine (he kept telling me he was doing a favor for a customer), had no idea they were being so discounted now and thouhgt mine was a steal, he kept saying "you paid like $40K for this car" and while I didn't I was not about to correct him, aslso was not going to tell him he could go up the block and get a new once for $500 less. I was nervous, but they are part of a lrge chain here in ATL and my old load did get paid off already by them so the deal was legit.
I'll scan the bill of sale and new invoice tomorrow and post it. I lucked out. I sold the 08 TL-S with 8,300 miles for $33,900 and then paid $33,221 + TTL for the new one I picked up 2 days ago! So the new one cost me less than the old one did 7 months gao and the interest rate is lower so I get a refreshed car and lower car payment!! I still pinch myself to make sure I'm not dreaming.