I've fallen in love with my TL, but she's a '06 5AT WDP I want to do many mods and before I start voiding warranties left and right. I want to switch it up to a '07-'08 6MT WDP. Has any one done this before with a financed car and how difficult was it?

 

Very easy. If you owe more than the car is worth they will add that on to the next loan. Luckily never had that problem.

 

It's very easy, they do all the work. You don't have to do anything additional as they find out the payoff amount and pay the vehicle off. So as far as your concerned it does not add any difficulty or work on your part. You just want to be careful though that you don't owe too much otherwise it's all going to be rolled into the new loan and that car is going to be extremely upside down unless you put a nice chunk of change down.

 

It's very simple:

DON'T SPEND MONEY ON VEHICLE MODIFICATIONS IF YOU ARE IN DEBT.

A. What is the rate of you car loan?

B. What rate are you earning on your retirement account/investments/savings?

If A < B, save your money.

If B < A, use any extra money to get out of debt as quickly as possible.

BTW, how is your car still under warranty? Acuracare extended? 3rd Party Warranty?

 

OK, here's my stupid response. If you already own the 06 and are making payments on it, go ahead and mod it vs getting an 07 from a dealer, likely getting robbed on the 06 trade in and getting taken on the 07 purchase, along with the potential of getting negative equity added to the 07 loan.

My advice (unless the 06 is in really poor condition which I doubt) is to keep what you have and do some less expensive mods that will make you keep interest in the car. Getting the 6MT isn't worth it for likely a large premium over what you already have.

 

Thanks this helped a lot, I'll give it time before I decide to trade in and look at all the red ink before making anything final. Really appreciate the advice thank you.

I want this car to last me till it dies, I have no problems with it and runs great. As I research more into the vehicle though a 6MT sounds a lot more appealing for the long haul.

 

How long have you owned the 06? My guess it hasn't been super long based on your join date. If so why change so quick and what makes you think you'll be satisfied in another year and not want different car? Every time you trade cars, you'll be losing money and going more and more into debt.

I agree with erdoc- keep what you have and take your time on your next purchase so you're more satisfied with it. I have owned my car for a long time and still love it very much. I can buy another car with cash with all the money I have saved since making that last payment 4 years ago.

 

I've had it for a year now and don't see myself getting any other car besides restoring a dream car. If you guys feel the end doesn't justify the means then I'll stick with my TL and just won't go heavy on the mods.

 

You mean a Type S correct? They do not make the 07-08 base TL in 6spd. Agree with the above members

 

I've had my 06 TL NBP* almost a year now. (1yr in April)

I also financed and couldn't be happier. Yes I'm still paying for the car for another 3 years etc but I'm fine with it. Maybe down the line when its all paid off I'll go for something else, who knows.

 

Hay guys this thread is a perfect thread because I am in the same position as Rollen.
Does any one know the estimated final price of the new car after trade??
Current cars pay off quote: 12000
Current cars estimated worth: 15000 - 16000
New cars price: 23000?

Gold star stickers are available to the right answer.

 

Many states you if you trade a car in you do not pay sales tax on the trade in value. So if your trade in is $12,000 and the purchase price of the new car is $23,000, you pay sales tax on $11,000. You also pay license plate fees and other fees. Now if you owe $12,000 they will pay off that loan and with what is left use that on your car purchase.

 

How many miles on your car? Like the above poster stated, you won't pay tax on the 12k, but if you can sell your car for 15k on a private deal, you're way ahead of the 8 ball. Plus you'll have more leverage to negotiate a lower price on a straight purchase.

 

Sorry my math skills car limited on this matter..
So I still owe 12k if I sell or trade for 15k does that mean I will only have 3k to put on the new car? so the final price would be 20k?

 

I have about 80778 miles on the car.

 

After trade in and there is no loan to be paid off, the 11k-12k

 

I got it now. I woud have 3k to pay down on the car if I were to sell for 15k. The pay off quote is what I still owe. Having only 3k to pay down is not enough to make me go for it right now.. ah well..