gatrhumpy

iTrader: (1)

OK, so I'm looking at a slightly used '05 TL (Anthracite) with navigation. KBB, with 18,000 miles, lists the car as $27,890 (KBB private party value). If (when) I sell my Accord, I would sell it for roughly $17,000 (KBB private party value).

Should I wait to sell my house in Maryland and put $5K down on the new car, or should I get the 2005 TL now?

We're selling our house in Waldorf, MD and moving to Jacksonville, FL sometime in June!

DeadLock

That is entirely up to you, how can anyone else here know your financial postion and what will be beneficial to you in terms of selling your house and so forth.

And I dont understand what the subject of the thread has to do with the questions you are asking.

joed40

Sell your house first! The market is slowing down to a crawl.

Good grief, hopefully your wife isn't aware that your getting financial advice from an on line car forum. Don't let your wife see this or she'll kick your ass.

By the way, after you sell your house please mail 50% of the profit to me, Joe D.

gatrhumpy

iTrader: (1)

Oh my bad. Should I look into buying a slightly used TL from the dealer, or should I try to buy a used TL from a private party?

Advantages to dealer:

* Short warranty
* (Slight) peace of mind
* Possibly lower interest rate

Advantages to private party

*No taxes in sale
*Lower price

Can anyone confirm this? Would I have to pay taxes on the car if I buy it from a private party? Would the price that I pay the private party be the final sale price?
I would just transfer over the plates that I have on my TL.

gatrhumpy

iTrader: (1)

LOL, if I win the lottery, I might do that. What are you going to offer in exchange?

joed40

I won't show your wife this thread!

your_mom

Yes, you have to pay taxes on a private party sale. Big Brother gets you when you attempt to register the car if you evade the taxes at the time of sale.

gatrhumpy

iTrader: (1)

When do you have to pay those taxes? Is there a timeframe to pay those taxes?

Andrew McCarthy

If your state is like mine you have to pay the tax in order to register the vehicle (get plates).

Always listen to your_mom.

gatrhumpy

iTrader: (1)

LOL, as I mentioned earlier, I said I wouldn't need to get plates. I already have plates. Do you have to pay taxes in order to re-register the vehicle, even though I'm not getting new plates?

vandido626

Get a new one, the price diff is should only be about 4 or 5k right now.

gatrhumpy

iTrader: (1)

Nahhhhhhh. No thank you. I would be financing roughly $28,000 on the used TL, but on a new TL the cost would be about $8,000 after TTL, at least in the DC area. That works out to be roughly $100/month difference. I also know that Acura has the 2.9% financing, but that can't offset (very much) the $8,000 price difference. Plus, I did not want one with a TPMS and the new torque steer computer ECM.

aw1

you still have to pay taxes even if you dont get new plates, still registering the car. the paper work ask you for how much the car was sold for.

gqchicago

How did you come up with that math? $8k difference for a new car versus the $28k you're paying used? Makes no sense to me...unless you're getting quoted a way to high price on a new one.


You should be able to buy new loaded TL w/Navi for roughly $33k.

You will have to pay sales tax on a new or used when you register it, OR transfer your plates over. If you do this yourself you're going to have to write a big check to the DMV versus having it part of the deal.

In my state, (not sure on yours), you can deduct the value/price of your trade-in from the cost of the new car taxes, so say I bought a $33k car and my tradein was $17k, I would now pay tax on $16k which would be part of the new car loan / financing / etc at 2.9%, which is a much better deal than paying all of the tax up front on a $28k used car.

And in spite of what you might think about TPMS / etc on a new car, a new car is better, less issues / etc, and new car warranty with full dealer backing. The used ones have held their value so well you might as well get a new one.

acuraz88

I heard that if your private party seller is nice.. he or she can claim that the price he/she sold you lower so that you don't have to pay as much tax..

mlody

Once time I bought used ’04 TL 6MT and ’02 RSX 5AT. TL was a rattle box and I had to sell it, while RSX is still perfect and I have it. I rushed to get TL since there were not any with 6MT at the time and regretted it since day one Both were Acura certified which means longer warranty than original car. If you are looking for automatic TL, they are everywhere, so you should not have a hard time finding the color you like. For some $5k is not a lot, but for others is a lot. Just do not rush when looking for used one and make sure that you extensively test drive one to avoid a rattle box. The only thing you have to be ready is to buy new tires since most used TL’s on the market have about 20-30k miles on them, so that could put you off by about $500, but still quite a bit when looking at the prices of the new TL.
I will be in the market for TL in about a year, and if changes to ’07 are very minor, I will probably settler for ’06 or ’05 certified, but this time I will not rush and make sure to test the car properly to avoid rattle trap. This time I will also looks for NAVI!

acuraz88

I am also in the same situation as you... but slightly different.. I want to wait for what Acura has installed for the 07 TL.. If there's not much change, I'll probably go with a used TL or 07 G35... The problem is I want a manual transmission with navigation, did any one have an experience with this?

Andrew McCarthy

Yup- it's called "tax fraud".

gatrhumpy

iTrader: (1)

Well, that $33k was what I was basing the pricing on. Then, you have to enter TTL, which would put the cost of the car at or around $35K-$36K. That would be the $8,000 price difference. I'm basing this on a NEW 2006 Acura TL.

A slightly used 2005 Acura TL would be roughly $28K (as per KBB), with approximately 18,000 miles on it. The tax on the $28,000 would be less than the tax on the $35,000. I will test drive the used car to make sure it doesn't rattle.

CL Platano

What's wrong with the Accord

gatrhumpy

iTrader: (1)

Nothing wrong with it. In fact, it's perfect. The only problem is, it's not a TL. Back in the day, the Acura was the first choice while the Accord was the second choice. I went with the second choice because I could not afford the TL (saving for house and marriage). Now that I don't have to save for that any more, we're good to go.

The Accord was great, but I wanted something with a better sound system.

gauravp123

You're just buying the accord for the sound system? :P

the decision is totaly up to you, new is nice, saving money is nice, definately drive it and make sure there are no rattles, etc

vandido626

Or just go with a LOADED new camry. Lots of people here are pretty excited about that.

However I would get an out the door price on the used tl and the new tl. The KBB price isnt a good way to compare your prices. Here in Cali new TL with navi are in the low 32s. You can save a grip buying your car through a private party but its still a bigger gamble than getting it at a dealer. I mean if something is wrong with the car who do you complain to.

1sweetTL

Would I have to pay taxes on the car if I buy it from a private party?
Yes, you do pay taxes, usualy at the time of registration.

Would the price that I pay the private party be the final sale price?
Yes, your taxes on the car will be based on the amount on the bill of sale.

I bought my a 2004 AM TL with like 7k miles on it.
It came with rims and A-spec Body Kit and I got it for 30K.
I paid the taxes when I went to register it.

Not to knock anyone who goes out to buy a new car..
because there is nothing like owning a BRAND SPANKING New ride.
But I have bought so many cars... this is like the 9th car I buy.
So I decided this time I would buy a used one with real low mileage, and let the original owner take the depreciation loss.

From this point on i'll only buy used cars with low mileage and of course a good history.

Check the history on the vehicle, make sure you ask the seller to stipulate in the bill of sale that the car has never been in an accident and DO NOT BUY anything with a salvaged tiltle.

1sweetTL

He wouldn't be the first to do it and he won't be the last.

aw1

yes, only if the seller is really nice to you. does not hurt asking the seller if he can write a lower price on the bill of sale. like someone stated earlier, its tax fraud.

gatrhumpy

iTrader: (1)

Yeah, I test drove a white TL at a local Toyota dealership, and it was nice, but I want an Anthracite TL with the carbon-fiber look finish. There were a couple of stone chips, and it looked like the back bumper was either touched up, or repainted because there were a few minor imperfections.

The search continues.

saccorator

Here's my two cents:

Find a local dealership with a ton of 06 TL's on the lot. Walk in, tell the salesperson that you want 17k for your trade and the car for 32k. Get the cost based on today's Honda financing special (2.9%/3.9%/4.9%) with all the taxes and fees calculated. If the deal ends up working out, then make your decision. If the deal doesn't wor, see what deal can be worked out on the 05 TL. If 05 TL doesn't work out, keep the Accord and treat yourself to something nice when you get to Florida.

I would atleast shoot for the best scenario, then work backwards so you know you explored all options before making a decision. Best case scenario, you get an 06 TL for a deal that you could't pass up. Worst case scenario, you have a nice Accord to drive in Florida.

your_mom

Depends on your state.