2018 Acura TLX 2.4 Upside down by 10k- Rolling Negative into a lease

2018 Acura TLX 2.4 Sedan base package,
Unfortunately the car was in a accident so has moderate-severe damage. The Loan from Acura is 30,000$ 60months 9.09% APR Payments 730.00$

I tried trading it in to ACURA for a A-Spec hopefully and the salesman offered 20k for it and i offered 3500$ down and salesman said we are to far apart.

What can i do for this action? i prefer a ACURA or anything from this point

What you “prefer” at this point doesn’t matter much.

You’re 10k upside down on a base Acura TLX and you’re paying over 9% interest on it.

Your options are to either refinance that loan and get the interest rate under 5% or put 10k down to cancel out any negative equity.

It’s crazy how even with these super inflated used car values someone can be 10k underwater. Seems like the result of multiple bad decisions.


I Had a 2020 Honda Civic Lease but i hated the CVT Transmission and it was kinda small. was bad decisons lol

So your driving a beat up car that you owe 30k on it?

Why wasn’t the damage ever fixed?

It is fixed

Did you get quotes from online websites to see how much they will pay for your car? Separate two transactions. Also don’t try to “fix” a bad decision with another one.

Now that it has a accident on carfax. Reports structure damage aswell so like 2% off dealers willl touch it. 20,000$ was the best offer I got. Many dealers told me
To take the 20k and run

Where was your insurance when the car was originally damaged? Did you not get any diminished value?

i always thought “structural damage” = salvage title instantly

  1. you rolled negative equity
  2. accident damage with “Structural damage”
  3. high interest rate

i would refinance the car and eat it
chances are you gonna pay an inflated price for a used/new car + roll negative equity + high apr again

just my .2 cents

You recommend any good banks for refinancing?

Should have pushed to totaled it out and let GAP eat the balance.

@HersheySweet has a thread for loans The Best Finance Rates & Hacks! Updated May 18th

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For Mass I’d go with Sharon Credit Union

Avail for
Norfolk, Suffolk, Middlesex, Plymouth, Barnstable, Bristol, Dukes and Nantucket counties

the following towns in Worcester county of the Commonwealth of Massachusetts: Blackstone, Hopedale, Mendon, Milford, Millville, Northbridge, Southborough, Upton, Uxbridge and Westborough, or

For prime credit, as low as 2.24% for used cars up to 60 months. IDK if they’ll take a car with structural on the VIN tho.

Link to Join

Link to Rates

As long as it’s not a salvage title I doubt they will care.

Also OP is saying structural but probably just means frame damage. Not all frame damage is catastrophic. There are commercial frame straighteners that do a decent job. It’s just life.

If if was $5k-7k of damage and the car was worth around $25k-$30k you may not have had this option.

IDK the CUs policies, and I’m not super familiar with cars with damage, accidents, or marks on title. I will defer to people with experience in that matter. Also this conversation is assuming OP has t1 credit.

Sounds like you only checked with dealers. You need to check Carvana, Carmax, vroom, shift and whatever else. You can do those online for a few minutes each. They’ll show exactly how much they’ll ding you for the carfax report.

I guess things can change in 4 yrs, but, if they are paying 9% interest, I would assume they don’t have Tier 1 credit?


How many months left?

Oh wait, are you saying you have $30k left to pay at $730 a mo? Thus about 41-mo left?

All due respect, unless you’re in a significantly improved financial position, do you really feel you need to upgrade to a brand new $44k car?

If you have $3,500 to spare, make a lump sum payment to principle, no? You’ll save on interest and you’ll be in the same position regardless if you later decide to trade up (ie roll $6500 NE and no down vs $10k NE and $3500 down).

Either way I’d try refinancing.

I’d keep trying to make extra payments as extra funds allow and keep improving credit. A 2018 TLX has plenty of life left in it. Will cost you less in depreciation/maintenance than a lease payment on a 2022.