1992 Honda Accord Keep or Sell


#1

I have a made in Ohio 1992 Honda Accord EX 4dr automatic with 47,000 original miles on it. I purchased it 8 yrs ago with 24,000 miles on it. The major expenses have been a rebuilt transmission and the timing belt/water pump change. For the past week, the ABS light comes on about 30 seconds after I put the car in drive and stays illuminated throughout the entire trip. I’m not sure exactly what this means–if the ABS system is shot or if it’s just a faulty sensor. The car has been garaged all its life and the Honda independent mechanic I take it to says the car has been well cared for and that the 1990-1993 Accord era was exceptional for Honda. My only complaints about the car are the poor gas milege–only 22mpg in town in the summer with a/c on and the fact that the R12 a/c isn’t the coldest (compared to GM cars)despite the fact that the a/c system was just recharged and there are no leaks found by the leak detector. If this car is one of the top 5 stolen cars nationwide, it must be well regarded.

I’ve never purchased a new car in my life. In fact, I’ve always purchased under $3,000 GM cars with very low mileage driven by seniors and then put about 25-30k miles on them and then sold them 5-7years later. The Honda was the first time I went out on a limb, since I regard a car as more of a money pit and depreciating asset and try to limit expenditures on it as much as I can.

I don’t drive much and not owning a car and I’m not the type that would want to buy a new car and keep it for 20 years and 200,000 miles and run it in to the ground. I like the Prius and there’s been debate on other threads as to the future resale value of them. I wouldn’t mind paying $25,000 for one and then be able to sell it 5yrs later for $20,000 if the current gas price trend continues and this is the future reality. I’m wondering if I should buy a 2001 Corolla with 30,000 miles, keep it for 5 years and sell it with 50,000 miles and not lose much depreciation and have a low cost of ownership–which is what I’m after. What would you all do?


#2

With as few miles as you drive, the Prius would be a waste of money. And it’s very unlikely you’d be able to sell it for 80% of purchase price 5 years from now.

Fix the Accord.


#3

Keep and fix


#4

Thanks for the info