Used Type S for sale already

[moneypal]

Just wanted to see your thoughts on this used Type S I saw on sale already in the Chicago area, asking 59k is wild.

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[ghostkp]

That actually seems like a genuine person who bought the floor model

 

[Azkyrie6]

That actually seems like a genuine person who bought the floor model

One simply isn’t allowed to just sell ITS. Forever car

 

[NoelPR]

Whoever complains about the high price doesn't have one yet.
For me this is great.

Keep it going !!!

 

[nawfoo]

Good luck getting a bank to finance that.

 

[Integra23]

Good luck getting a bank to finance that.

Good point. Not sure how that works with used. New it wasn't an issue for 100% finance

 

[nawfoo]

Good point. Not sure how that works with used. New it wasn't an issue for 100% finance

Probably the same way they hand out mortgages. Loan officer is going to see a $50k car and the buyer is responsible for the remaining $10k.

 

[Ministry]

Considering FL5s are currently selling for ~53k at auction (Manheim) this isn't all that far fetched for retail.

 

[acurax]

Probably the same way they hand out mortgages. Loan officer is going to see a $50k car and the buyer is responsible for the remaining $10k.

Unsure about other banks, but Penfed allows you to finance up to 125% of the value.

 

[Clark_Kent]

Unsure about other banks, but Penfed allows you to finance up to 125% of the value.

It's somewhat common for banks to allow 125% LTVs on auto loans, but it often only applies to new (never titled current or prior year) vehicles.

 

[acurax]

It's somewhat common for banks to allow 125% LTVs on auto loans, but it often only applies to new (never titled current or prior year) vehicles.

In the case of Penfed, they appear to offer up to 125% for both new and used. Though, after reading the finer details for used, it's not quite the same as it states based on the JD Power valuation plus tags, title, taxes and extended warranties not to exceed 125%...additional restrictions may apply. So, it seems whatever that total amount is, would be the max and may end up being less than 125%.

 

[Clark_Kent]

In the case of Penfed, they appear to offer up to 125% for both new and used. Though, after reading the finer details for used, it's not quite the same as it states based on the JD Power valuation plus tags, title, taxes and extended warranties not to exceed 125%...additional restrictions may apply. So, it seems whatever that total amount is, would be the max and may end up being less than 125%.

That's interesting and a great call out. Thanks for passing that along.

 

[Integra23]

https://carsandbids.com/auctions/rkyzMX6k/2024-acura-integra-type-s
Only a matter of time

 

[nix6speed]

https://carsandbids.com/auctions/rkyzMX6k/2024-acura-integra-type-s
Only a matter of time

Auction fees are 4.5% putting the buyer basically at MSRP now. With a week left I'm sure more bidding will occur.

 

[lumper]

That actually seems like a genuine person who bought the floor model

I read about examples where a dealership would sell the car to itself under the name off an employee or owner then title the car and offer it for sale used, seeding the used market has different specifics, and they can actually in some cases, get more for the car if marked used, vs new for some reason, current market conditions I suppose?

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