se3p

Hey everyone. First post here. Currently driving a mazda rx8 and its pretty modded and too low to drive in the winter this year. So i have decided to store it and get a beater/new daily driver as gas consumption isnt the best on that car.

2 of the cars im looking at are the acura tl (3rd gen) or the acura tsx.

I have a few questions regarding the TL:

1) Im looking to finance this car. Would it be better to get a line of credit or a loan through my bank or to finance it through the dealer if i dont buy private ??

2) Would you recommend buying private or through a dealer ?? I find alot of these random used car dealerships a bit sketchy to be honest, however buying private can be risky as well.

3) Im looking at 2005-2006 TLs. With my budget being around 6000. Alot of them have about 200, 000 km on them .. so my question is if i should be woried about any issues at such high mileage. Last thing i want is to finance this car and have to spend money on repairs right away.

I need to get this done soon as i dont have snow tires and the performance tires i have on my car right now dont have alot of tread. Im located in toronto as well if that makes any difference.

Any info or advice you acura enthusiasts can give would be greatly appreciated.

se3p

bump

Vlad_Type_S

iTrader: (3)

It sounds like you can use some general car buying advice. There are lots of GREAT threads around here with it, but I don't have links to them at the moment.

CLtotheTL32

iTrader: (3)

Bump after two hours?

JTS97Z28

iTrader: (4)

I wouldn't hesitate buying private party or dealership, it really just depends on the car itself. I have seen amazing example from both, and I have also seen disasters from both. A dealer will finance you usually with no problem at all so as long as you have ok credit. To be honest buying from a dealer in your situation sounds like it would be the easiest. Sometimes buying private party is more difficult not to mention your on your own as far as getting a loan goes.
Just to give you up to date info, last week I just bought an 04 Grand Cherokee Overland from a dealer. It was a fairly cheap car that I wanted for winter use and just wanted to finance it and have low payments instead of pulling 10 grand from my account. Through the dealer I was given 4.99% and it required $1000 down due to age and mileage of vehicle. My credit is 815 and a six figure income. Getting your own financing will get you probably in the 2-3% range, but on such a cheap vehicle that difference is only a few bucks a month.
In your case I would personally buy from a dealer and make it a nice and easy transaction.

se3p

Thanks for the responses guys. So yesterday I went to the bank to see what the interest rate is. She advised me to get a line of credit instead of a loan so today I'm going to drop off paper work to see if I get approved she said it can range from 5-8%.

I'm also going to check out this TL. It has 230k on it and it's an 04. Anything I should look at when i test drive it besides weird noises from he transmission.

Here is the ad .. I would rather not finance through the dealer unless it's a reputable Acura or Honda dealer cause this one seems a bit sketchy.


Tell me what you guys think. Unfortunate my budget isn't much over 5 grande I would like to pay off this loan in 2 years max. I know I can get a cheap civic but it's going to be a daily so I want something Nicer and smoother.


http://www.kijiji.ca/v-cars-trucks/city-of-toronto/2004-acura-tl-leather-sunroof-fully-loaded-priced-to-sell/1007951451?enableSearchNavigationFlag=true

SgtSir440

That interest rate seems very high. You should be able to easily get loans for like 2-3% interest from a credit union. Sounds like she advised you to do what will make the bank the most money.

flyromeo3

maybe he thinks we don't sleep? ?

erdoc48

1) For $5K, I wouldn't finance it unless you really need to do so- you might get gouged interest rate wise if your credit isn't the best.
2) You're potentially buying a car with 200+K km on it, so be aware that even though the TL is a very reliable ride, it may just be admission to the club and you may be looking at some maintenance or repair issues in the near term (or possibly not if it's a really good example)
3) Premium gas with increased cost if that matters to you

Good luck with the purchase, just have your eyes open when you buy and be aware of the potential pitfalls.

TacoBello

Man, you get what you pay for.

A TL going for ~5k is guaranteed to have issues, no two ways about it. I hope you're prepared for some repairs/maintenance. Don't be a "baller on a budget". Paying that kind if price for a TL is like buying an AMG Benz for 15k. Not worth it.

Also, I don't think you mentioned whether you are looking for a 5AT or a 6MT. If it's a 5AT, an 04-06 transmission might be an issue, if it's a 6MT, you might be needing a clutch sooner than later. Just keep that in mind.

Also, fuel consumption isnt the greatest on the TL. It is a 3.2L V6 after all. It can be good if your granny drive the car, but who does that? And like mentioned, it runs on premium.

se3p

Appreciate the help guys. I plan on putting down a couple thousand then financing the rest. Yea the interest rate seemed a bit high for me. Im looking at the 5 AT. I dont mind manual but couldnt find any right now. I put premium in the car i have now and it doesnt have the best gas mileage so im not too worried about that. Cant be worse than 75 bucks for a 50l Full tank and get 300km empty.

Im heading over soon to have a look at it with a buddy. I know i shouldnt be a "baller with budget" but i was also considering an 06 civic which costs roughly the same if not a bit cheaper but insurance is alot more on them

Anything specific i can physical see or feel when i test drive it thats prone to fail for the 04s ?

TacoBello

Having that much mileage, i'd look into the sway bar end links, front and back. You wont see anything, but you'll hear mild "thunk" sound while driving. Front compliance bushings in the lower control arms wear out too. those are more of a visual thing- you'll see the rubber failing on them.

When was the timing belt done? I believe in Canada it's supposed to be done every 96,000km if I'm not mistaken. Also same for a valve adjustment. You won't see that, but some documentation that it was done would be good. See how the transmission shifts, etc, etc.

I could write an encyclopedia of things to look for. Take a look through this forum and you'll find an endless list of items to look out for. it's hard to summarize here

sopmodm14

in either car, i'd scrutinize their maintenance history ..... no maintenance paper trail, no buy

se3p

Hey guys so i went to check it out today with a buddy of mine. He owns a shop and is pretty mechanically inclined. So the car i went to check out was a 2004 Acura TL Automatic with 230,000 km.

Anyways we get there and ask for the keys to go drive. We start it no problem and theres a clanking noise and my buddy says 2 things wrong. Brakes need to be done and rotors and looks like driver side rear shock is blown. No biggy he can replace all this for me for under 500. Anyways he takes it for a drive and the motor still feels strong it really pulls. The automatic transmission shifts nicely as well .. he didnt feel anything wrong with it. The car is lightly modded (lowered, tinted, muffler, with i believe an aftermarket intake). The mods i dont care for.

Cosmetic wise there was 2 parallel scratches on the hood about a foot long. And theres a big scrape on the right rear panel. Anyways the guy is asking 4999 for it. Brought him down to 3800. I told him ill sleep on it. But also a selling point for me is that the car has BRAND NEW snow tires on with lots of tread. So im saving about 800 right there buyign snow tires.


Pros:

motor feels strong
transmission feels good shifts good
Brand new winter tires


Cons:

Cosmetic scratches here and there
Needs new rear brakes
Needs new driver rear shock



The interior was fairly clean as well.

I think im sold on it and ill bring 3500 and see what he says. What do you guys think ?

erdoc48

If it can be purchased for $3500-3800, and you have a trusted mechanic that can bring it up to decent operating condition for $500, then get it. For that price, you clearly can't expect it to be cosmetically superior and given the mileage, I wouldn't put substantial money into it to mod it and would just use it as your daily driver/ beater (as much as I hate to say use a TL as a beater car). It might be a decent buy and hopefully, you get a few years use from it. I wouldn't spend cash on body/paint repairs, as bringing the car to more cosmetically appealing will cost a decent percentage of the car's purchase price and it's just not worth it.

From an insurance perspective (and if you do a cash sale with no financing of the purchase price), insure it for liability only as collision and comprehensive really won't be worth the price given the fact that it's 10 years old with high mileage.

se3p

^ Absolutely. Right now i really cant be picky comestically speaking. The car is in good condition other than a few things here and there but thats expected for a 3800 car. I plan on driivng this as my daily driver and winter car. The fact that it has brand new snow tires on it already sort of won me. I dont plan to mod it at all. It already comes a bit lowered with an exhaust (guy left the stock tips and smaller mfufler it sounds like) and an intake.

As far as financing. IM heading to the bank tomorrow to get approved for line of credit. I noticed the dealership (although a sort of sketchy one it was a lot full of used cars and the office was a little portable) offer 3 year engine and transmission warranty. So might get the tranny warranty depending on how much it is. Thanks for the help guys. I totally fell in love with this car. It definitely has some balls and is very comfortable

TacoBello

You're getting financing for a $3500 car? lol.

TacoBello

A car that is being sold for 5k, and the "dealer" is willing to drop the price to at least 3800, sends off warning bells already. That's a 24% drop off the asking price. Sounds to me like that "dealer" just wants to dump that thing asap.

Unless that dealer is taking a hit on that car (highly doubtful), or is breaking even on it (also doubtful- they're in the business of making money), it sounds like the dealer got that car for next to nothing. No one gives away a decent running TL for next to nothing, even if it has 230,000km on it.

Also, a test drive won't necessarily indicate a hell of a lot. Unless your mechanic took his time to actually take a close look at that car, and by that I mean tear into it a bit, you really don't know what you're getting. I wouldn't even be stressed about the motor "feeling" healthy. The majority of J-series engines will run until the end of the world and still pull strong until then.

It's your (well, actually, the bank's) money, but I, amongst others, are suggesting this may not be the greatest idea. You seem dead set on it, so good luck.

Dunnik

In the colder parts of the country, yes, a friend in Edmonton did his around that mileage. In warmer parts, like Southern Ontario where I live, we can put it off until, like, 150-160.

The timing belt/water pump fix is a $1000 repair from a dealer. Always worth knowing if its been done.