simonsez

Hi,
I have a question.
bought a car year ago $38,600 (full aspec + navi) + tax & other fees @ 6.9% APR / 60 Mo
$8,000 down.

Been paying $670 / Month x 12 so far.

I have 22,000 miles on my car.

If i were to sell this car as of now, what's going to happen?

I know i'll be losing a lot of money, but could the situation get worse and even pay more out of my pocket just to sell the car???

if anyone with a good estimate on this situation, i really appreciate it.

bl^5

The 22K miles is definitely going to hurt your resale value, and I 've got a big feeling that aspec won't help your resale value. Get your payoff amount and start from there...

Shoofin

Wholesale Trade in value:

Vehicle

2006 ACURA TL

Description

Engine Type: 3.2L V6
Body Style: 4 DOOR SEDAN
VINCODE:
Standard Features: CD CHANGER STD
DUAL POWER SEATS STD
DUAL ZONE AUTOMATIC AC STD
LEATHER STD
TRACTION CONTROL STD

Base Price: @ 17000 miles 25000
Mileage: 22000 miles



Adds and Deducts
NAVIGATION +900

As Equipped Price 25900
Mileage Adjustment -1125
GALVES TRADE-IN VALUE 24775

daemonicus

since you didn't mention why you're selling it, i'll just go ahead and ask why you didn't lease it if you were just going to keep it for a year?

diddy_nyc

iTrader: (1)

Guessing based off the information that you have provided, you probably owe anywhere btw 27k to 28k max on your TL from a yrs worth of payments. The KBB value of an 06 TL in excellent condition is 26,500, but you never get the KBB value. Dealers usually give you 3-5% less than the KBB value. So your looking at 24k probably. you would now owe the bank 4k max, which you possibly roll over into another car....a much cheaper car, like an 04 G35 Coupe 7 pay way less than 670 per month. Hope you find this useful.

michiamo

If you trade it, they may not even give you what you owe (or they'll jack up the price of what you're buying to compensate). As a matter of fact, your biggest fan will be the person who buys this car after you took the big loss. I know, I just bought a car and got a fantastic deal - I'm grateful to the person who took such good care of my car for 2 yrs. while it was depreciating. People think it's a brand new car, lol.

fuzzy02CLS

iTrader: (2)

670/month car note is nuts. Good luck man. Your going top be in the hole no matter what.

pimpin-tl

All the dealers including Acura do not give extra for the A-Spec it seems. The best quote I got was 28k at carmax, and 26k at Acura. And I have 8400 miles.

diddy_nyc

iTrader: (1)

670 is not bad for a 39k vehicle. especially considering the fact that he put 8k down with a 6.9% apr.

michiamo

670 for something that will be worth nothing in a few years?

leedogg

Why are you selling it? financial issues? consider getting it refinanced in a longer duration loan, i.e. 7 yr loan. Your payments will drop to 500 or so

WilYeo

I second the opinion of refinancing it if you can afford - and hopefully the mileage / year reduced over time if you drive less going forward; that might improve the selling price of your car when the time comes.