Well I don't know how much taxes you have to pay for your cars. But over here I have to pay 17% tax. So it works out to $5000+CDN? It's not too much. But if you consider how long I've owned the car it does seem like my Prelude ownership so far is costlyat times. But I guess it's not too bad. I got to look at my bill again. I think it's very realistic that I'll be selling my Prelude within a year or so.

 

I guess what I meant to say was.....

Critical Decision Making 101

Will it upset Mom if I trade in the Prelude

Yes ---------> Foget about it altogether

No ---------> Ask about getting S2K

If hurting Mom's feelings is so important, is there really a third choice of:

Yes, but the guys on the bulletin boards say the S2000 is so awesome that I should take the chance on hurting Mom's feelings just so I can get the car. Maybe they will tell me it's not that great (from this group, right ) and then I will just forget about it.

I certainly understand that her feelings are more important than any sum of money that might be lost on the deal.

My main point is that you could have saved yourself a lot of time and discussion if the answer to the first question was 'Yes'. .....and stuck with that decision.

 

A question for you.

In Canada, if you trade in the 'lude, do you lose all the tax you paid?

In the US....in Pennsylvania anyway, they would subtract the trade in value from the new price and you are only taxed on the difference. And only 6%

Makes a HUGE difference!!!

 

I'm sorry if I took offense with some of the comments directed to me. I understand fully how ppl who bought there cars with hard earned cash might take offense with a kid who's car was bought by his parents. I personally don't like the kids with expensive cars who don't know a thing about driving them.

As of right now. The tax is still more than the depreciation of the car so it's really a factor. It's not a factor in terms of buying a car since the difference is small but it makes a difference in terms of trading in a car.

I guess I should make clear that if I do go with the tradein and get a S2K, I'll basically be responsible for covering up the difference. And since I don't exactly have a job right now I can't just throw money in there unless I'm sure it's gonna be a car I'll want to keep. As I mentioned, I don't believe I should be keeping my Prelude for that long because it has experienced some horrible times in the beginning when I was learning how to drive.

 

Okay this is what I found out. Anyone out there who can confirm?

New vehicle price - trade in = price to be taxed.

If this is true it makes a little difference I guess. I'll get back some of my tax which will help with my mom's situation I guess.

Anyhow, Everyone is selling the Car at MSRP. I was wondering how the car handles in the rain. Obviously I'll need snow tire for the little snow I'll be getting but for the rain the car drives without a problem right?

[Edited by Howie on 03-27-2001 at 10:59 PM]

 

Just a question, because I was a dumb college kid once. Not dumb literally....just looking to do things that might not have made that much sense.

I'm going to use US dollars for my sanity....as well as US prices. If the S2K is selling for MSRP at just under $33,000 and your Prelude trade is worth say, $20,000 (which is high for trade, according to blue book) then you are going to owe about $13,000 plus tax on that. We'll use your 17% tax, just for fun

That means a total of about $15,210. Now if you are doing this on your own (with no job, I will assume a co-signer) the loan is going to be approximately $370 a month for 4 years. That is a hefty payment for a college kid that doesn't hold a job. Now, if you have another source of income that will help pay that, I guess you are OK, but you mentioned that you are paying the difference yourself, so I will assume not.

My $.02 again.....I know that back in college, facing the same situation, I might have been up all night trying to figure a way to make that happen (but it might have been a Civic EX if I was lucky!) Actually, come to think of it, it was a Honda....a 1989 VTR250...ended up being $83 a month

It just might be that the excitement of the S2K over the Prelude may not be worth what you will go through trying to pay for it.

 

I'm not exactly gonna be "legally" responsible in covering the cost. There's almost no way that I can get a loan. So my parents would carry it and I'll be paying them back. Obviously they're not going to kill me if I took my time. But just to answer your questions. I have some money lying around. Not enough to pay for the difference outright but it's not too bad. 2) I have some investments. Not doing well with the whole stock market thing though. And other sources. It's a slow process of course and of course I'll be subsidized a bit. But I'll still be ending up paying a lot out of my own pocket.

 

You've made the answer clear. They're not going to come with a tow truck if you personally, have no cash in hand. That means you have a lot less worry involved in it financially.

 

personal attacks: you are and you aren't
are: people say you are wrong type for this type of car
aren't: let's just say that your personality and this car's personality are a mismatch
nothing personal in this, ok?
JM
ps i've just driven half way through holland belgium france and england with our new red and hardtop. wife never known to got over 70, was held back by me at 102 on the motorway, while we ran it in over 750 miles. maybe there's hope, the S may change you a little.

 

Forget about the personal attacks. I'll take it personal when I take it personal. It's meant to be personal when it's meant to be personal. You just never know. Anyhow, I too believe the car is only as good as the driver most of the time so the driver's personality makes the car's personality. The car can't do what the driver won't let it do.

After giving it more thought. I think there's definately more assurances and the comments I have read here have definately helped. I obviously won't be getting one next month. But I guess I should start planning a little to too or at least dream.