hey guys,
I bought my old mans car off him in august 07 and the arrangement was i payed off the rest of his payment. well that was a total of $18,000.

now the only mod was that it has been lowered with 17inch rims and low profile tires. it had done about 90,000km.

does anybody remember what a 2003 TL es magna was worth at the end of 2007 and am i getting ripped off?

hey guys,
I bought my old mans car off him in august 07 and the arrangement was i payed off the rest of his payment. well that was a total of $18,000.

now the only mod was that it has been lowered with 17inch rims and low profile tires. it had done about 90,000km.

does anybody remember what a 2003 TL es magna was worth at the end of 2007 and am i getting ripped off?


about 15k i believe.

Seen TL VRX's for $11K
And yeah, getting ripped off, could of gotten a VRX for that amount back then

sif your dad would rip you off!

i know they are worth bugger all now. but its hard to tell what they were worth back then.

$15000 sounds about right. at the time his justification was you would be paying more than $18000 including tax if you got a loan so this is a good deal. but now i come to think of it, my old man is was still charging me interest, which is wrong. i mean if anything it should be a discount coz im his son.

i know they are worth bugger all now. but its hard to tell what they were worth back then.

$15000 sounds about right. at the time his justification was you would be paying more than $18000 including tax if you got a loan so this is a good deal. but now i come to think of it, my old man is was still charging me interest, which is wrong. i mean if anything it should be a discount coz im his son.

Wow...and I thought I got jibbed when I got the TR. That's screwed up, Mightaswell of gone to a bank and at least gotten a credit rating at the end.

']Seen TL VRX's for $11K
And yeah, getting ripped off, could of gotten a VRX for that amount back then


In 07 you saw TL VRX's for 11k?

Surely not?

In 07 you saw TL VRX's for 11k?

Surely not?
Sorry, I meant recently (Should of stipulated better)

']Sorry, I meant recently (Should of stipulated better)

I was gonna say, i would surely chucked on another 2k when i got my maggie!

lol

A 2004 TW ES in a Mitsu yard in Qld with 40k on her was 15000. in Sep/2007 (first reg in 03/05 with balance of year warranty, I remember that well. I bought the sucker, (not this one).

about 15k i believe.


A 2004 TW ES in a Mitsu yard in Qld with 40k on her was 15000. in Sep/2007 (first reg in 03/05 with balance of year warranty, I remember that well. I bought the sucker, (not this one).

Heard im just awesome.

I would much rather the TL shape, i have to say the TH&TJ have really aged!!

Sorry dunno what a TL was worth back then, and don't much care either.

I assume your dad didn't hold a gun to your head and make you enter this deal?
Did you not bother to check the value of these cars at the time?

Wake up, grow up. You make a deal, you should stick with it. I assume you were close to adulthood at the time, and have achieved adult status by now?

From your old man's point of view, he got you into a late-model reliable car with acceptable dynamics and well-fitted with active and passive safety features. Kudos to him, I say. Could you have afforded such a vehicle without him?

Even if parent's CAN afford to give their children expensive gifts such as cars (and I'd guess a majority of parents cannot afford this), I'd question whether they SHOULD. Far more important that he teach you values such as honouring a deal, shouldering the responsibilities of living in the real world, perhaps you can now learn the importance of research and making decisions based upon facts not emotions (or what you can afford, VS what someone else is trying to sell to you).

Sorry, really I am, if I sound like a hard-case about this. Just something about the thread seems NASTY to me.

Magna's have always been a "value" car - loaded with features to entice folks to buy them, not able to pull massive sales success against the Falco-dores without lots of fruit-salad to sweeten the deals. They have always been a sound "bang-for-buck" used-car buy - their resale value has always been low..... the later the model you buy, the more their value will depreciate. The decline of Mitsi manufacture in Australia has obviously further reduced retained values. There has been a massive correction to global financial affairs which is reducing employment, earnings, interest rates on savings and superannuation. Values of never-quite-bestselling cars (Magna, anyone?) are hitting the floor. Was anyone in 2007 able to fully predict this outcome = probably NOT.

In 2007 I bought a TJ II Sports 5-sp manual for about $6000- and last yr I bought a KJ ei for $8000- and you know what? TODAY, these don't seem like the bargains I thought they were. I have kept the TJ cos I doubt I'll ever get near my money back on it (have spent money on it, and its not pristine and never will be).

I hope you'll realise that you have a great, capable car. Why not be grateful that you and your old man got you into this vehicle? Lots of young folks start off with a much older less-safe old banger - or no car at all.

/rant ends.
(I don't even have kids, but am certainly in "cranky-old-fart" mode tonight. Think I need a Bex and a good lie down)

Other good thing about buying from your parents is you know how it's been treated, and whether it has been correctly maintained.

Wouldn't have said it was particularly overpriced myself, why would you be thinking your dad ripped you off? :nuts:

I'm more concerned about the 18000, fingers crossed you've factored interest into that sum

Not sure if its a high price.

However if you are not happy with the deal, or paying interest to your folks, its simple. Get a loan, and pay out your contract with your dad.

G'day,
I paid $21000 for my 05 TW VRX AWD in September 07, was first registered December 05 and had 45k on the clock. If the 18k you paid all up included interest then you really paid about 15k so a pretty fair price if it was one owner and low Km's. I was budgeting for $15k for a TL/TW Magna when I went shoppping, but over spent once I saw my car :shock:

I got my '03 TL VRX Manual in May 07 for 20k, it had around 60K k's on it.

I remarked at the time that if i wanted an auto i could have got them for around 13-15k however i wanted a Low KM manual, and it happened to have a VRX wrapped around it.

I still feel like i paid too much, but ive always been terrible "dealing" with car dealers =( I still love my car =)

seems like what you paid is about ballpark, you got the rims in that price rite?

My 05 VRX TW Manual was bought from dealer in Dec2006 for $22.5k and had done 12k k's

Yeah that seems about right for then. But then, if you really like the car does it matter how much you paid for it (within reason of course)?

it doesn't really matter now. just im looking at getting a ute for work, and trade in value is $6000 compared to what i still owe which was $12000. but dads just gonna take the car back coz its still listed as his business car.

thanks for all the answers. was helpful sorting out how to finance another car.

In November 2007 I purchased a 2003 TL LS - it was $13000 on the road. 60K on the clock. I went rural to get it.

In other yards at that time $13990 (plus on road costs) was common for base model TL with 100K on the clock.

I bought an '04 model TL LS for $12500 in mid 2007. Had 80K on the clock. The guy wanted to get rid of it quickly as he purchased on Hire purchase, and the amount he owed was more than the car was worth! Every day the gap was getting bigger so he wanted out.