Antonio K

I've been browsing the forums for a little while and reading up as much as I can, so now I'm getting serious about buying the car I've always wanted: a 3rd gen TL. The car I've had for the past few years was given to me, though, so I'm new to the whole car buying experience.

At this point my only big preferences are that it be an 07-08 model, the interior not be black and that the exterior be white, silver or one of the darker shades of red. I'd like a model with the navi package, but am still undecided as to whether or not the maps, voice commands, and back up camera would be worth the extra cost to me. I'd like to keep the total cost including taxes and fees below $18,000 unless I can find an awesome deal for a little more.

Here are a few things I'm wondering about:
1. I've been going with an arbitrary ceiling of 100,000 miles in my search; should I throw this thinking out and be more open to higher mileage? Should I be more forgiving of Carfax reported accidents?

2. Any suggestions of places to apply for loans on 6-7 year old cars with high mileage? What kind of rate should I expect with a credit score in the low 700's?

3. Would it be totally unrealistic to get a Type-S in decent shape within my price range, and are Type-S models much more trouble-prone or expensive to insure/maintain?

4. I've read that the TL shares a number of parts with the Accord, but it being a luxury vehicle I know some repairs will be a lot pricier. How much should I expect to budget per year in order to keep a TL running nicely?

5. I've been searching for deals within a 250 mile radius of Pittsburgh, PA, but I know it's going to be tough to get a car independently inspected or to walk away from a shady dealer when I'm having to drive multiple hours to get there. Should I be keeping my search closer to home?

Any advice much appreciated!

1black_seven

iTrader: (2)

You can get a type-s for around $17k-$18k with 80k-ish miles.

I wouldn't get a long term loan for such an older car. Your interest rate will be marginally lower, but you'll run the risk of having negative equity. I'd say you're looking at estimated 9.99%-14% APR.

Labor and parts are the same for all the 3Gs

Patience, if you really want it you'll find it at the right time. I payed a mechanic $150 to go inspect my car before I drove 950 miles to buy it. Peace of mind is worth every penny.

1black_seven

iTrader: (2)

If you do a long term loan you'll probably be look around 8% APR or somewhere near there. USAA gave me 4.99% for 5 years when I pulled a loan.

JTS97Z28

iTrader: (4)

Whoa, you have bad credit or something? Lol used car rates are in the mid 1's, some low 2's. Lengths for up to 72 months at those rates as well. Last loan I had was through PenFed credit union at 1.49%.


To the OP, with your price range you can easily get an 07/08 TL with nav with under 100k miles. Not a problem at all! Infact, as already mentioned you can find Type S's with under 100k in that range. The 07/08 TL and TLS are well built and reliable vehicles. If you find one that's taken care of there should be no major issues whatsoever. The Type S does not cost more to maintain than a base. For great rates try pentagon federal credit union. I think the current rate for used loans is 1.49 or something like that for up to 60mo. Around 2.2ish for longer 72 month loan.

screaminz28

iTrader: (1)

Right on JT. You have to be subprime to get a rate higher than 2.5% on even a 9 year old car. I compared pentagon and dcu and dcu had slightly better terms. 1.99 on a 7 year old vehicle. They would even do over 100k miles and 72 months. Unless you are a complete credit waste it's easier to get 40k for a car at 2% then 250k for a house at 4, even though a house is a typically appreciating investment (last 5 years excluded lol).

96SC4

i got my 07 in october 2012 with 37k miles for $17,000
they're out there for good prices. keep searching, and good luck

the problem with the interest rates now is that an 07/08 is MORE than 5 years old now. Loans for cars that are more than 5 years old, the interest is considerably higher.
SO, if you were buying an 09 today, you're interest rate would be lower than an 08..

It's just how banks are...

JTS97Z28

iTrader: (4)

Simply not true. A lot of credit unions have fixed rates that you either get approved or you don't. On an 07/08 getting a 1 or 2 percent rate is easy. OP, do not get a loan with some crazy rate they are still very good now and for 5+ year old cars.

1black_seven

iTrader: (2)

I had neutral credit when I applied, that may have been a reason why I got higher numbers. I'm paying off my loan early so hopefully I'll see lower APR in the future.

screaminz28

iTrader: (1)

Please dont! JT is 100% right. Once approved, that's it - just go buy the vehicle. My buddy just got himself an 06 F250 dually financed for 72 months @ 2.49%. Since it's an auto loan there is no income documentation or verification - it's all about credit score. You should have no problem in the 700s to get that low of a rate.

Brock79

Rates for used cars are different depending on the area in which you live. Even if your credit score is the same as the guy 100 miles away you might get different rates. That being said you shouldn't be over 5% period! I know some places charge more interest on cars older than 5 years. Personally if you don't need all of the add ons and you don't want a type-s, you should be able to find an 07/08 around 12k with decent miles.

Brock79

Here's a typeS for you, and it can be had in your price rang if you include the interest you will tack on. They had two others as well, not sure if they are still there. You can also search car gurus.com

http://www.ebay.com/itm/Acura-TL-Type-S-w-Navi-rearCam-FINANCE-AVAILABLE-White-on-Black-2007-TL-Type-S-Paddle-Shifters-3-5L-/370967224066?forcerrptr=true&hash=item565f5e9f02&item=370967224066&pt=US_Cars_Trucks

CLtotheTL32

iTrader: (3)

^Don't go after that TL. The foglights are upside down, meaning it's had the front bumper replaced/worked on.

1black_seven

iTrader: (2)

^How can you tell, I cant see anything.

CLtotheTL32

iTrader: (3)

I clicked on the link and viewed the pictures on the eBay listing.

The foglights are upside down, most likely meaning the front bumper was replaced with a 07-08 Base bumper, instead of the 07-08 Type-S. The foglights are currently pointing up with the flat part on top, almost creating a smile on the front, while the Type-S fogs have the flat edge on the bottom.



They should be like this:

truonghthe

welcome to them site, as far as your question I can answer as following through my own experience.

1. my credit score was around 700 when I apply for a loan and the interest was 4.99% with a credit union, Honda offer me at 7.00% because it bought the car from a Honda dealer.

2. Type S isn't cost more to maintain or expensive to repair.

3. Both base and Type S is a solid car with little to no issue whatever even after 100k miles.

4. I never like the car been involve in accident just the fact you never know the quality of the repair was done.

5. I would trying get a loan with a credit union instead of big bank, they usually give you better interest rate and extend the vehicle age limit for financing. Difference credit union has difference rule for financing so check with them first.

6. Navi isn't the best crisp looking in the market but if you look into it the 3rd TL is now 7 years for 07-08 model, the back up camera is a plus even it doesn't have trajectory or line, I just hate those thing. Beside the navi make your car looks much better.

7. Yes TL does share some part if not most with the accord after all it was built on the accord platform.

8. With LED for turn signal plate light and your TL is par with modern automobile, the design is so good that I can imagine my TL is now 7 years old when I park next to the 2014 IS350 F-sport.

My advice for you is stay away from used car place in NJ, they are just a bunch of douche bag and scammer trying to get you to sign the paper that work in their favor. These are the dealers me and other people had bad experience with is EMG Motor, Deluxe auto and they both locate in NJ. I spend 3 hours to get there and end up giving a run around then trick me to buy a TL look like a POS.

Acura_Dude

Nice catch, Tyler. I never noticed that tiny difference in how the foglights are between the base and Type S.

JTS97Z28

iTrader: (4)

Agree!! That's another thing to look at all the time when buying a used Type S. Shitty body shops use incorrect parts, hence a type S with base bumper. The fog grill ends are the way to tell.

Steven Bell

iTrader: (2)

Tyler is "THE MAN".

Welcome Antonio.

Turbonut

iTrader: (1)

Never ceases to amaze me the amount of knowledge on this board.
That TL-S was in 2 accidents, 2008 and 2011.

96SC4

I guess my credit union sucks

aj_

Good call on looking into a TL for your first ride. It's the first car I bought, too.

I have an 07 TL, MRP with navi. Bought it for 17k with 67k miles on it. Very well maintained and bought from dealer.

As for an auto loan, I got a 6.5% 5yr loan from PNC bank and will refinance once my debt-to-income ratio is better. My credit score is good (mid 700's) but my student loans screwed me and I haven't started full time yet (I will in 3 weeks so that's when I'll refinance).

Before you buy, shop around for an auto loan. Yes, they'll run a credit check and a few credit checks will hurt your score, so be mindful of that. I'm expecting to be between 2-3% in 3 weeks (will cut my monthly payments enough that I can pay off the car in a year and a half instead of 5).

Happy shopping.