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To Sell or Not to Sell?

I have a 2000 Honda Accord EX V6 Coupe with 89k miles. I purchased the car in 2005 when it had 39k miles and have driven it no more than 7-8k miles per year. The car is in pretty decent condition–a few places where the paint is beginning to show signs of age but for the most part, a dapper looking car. I have not changed the timing belt on the car (which I realize should likely happen soon) and have had the car serviced regularly when needed. I’ve replaced the alternator twice, put in a new battery, had brake work done in the front and rear. The only issue with the car is one that is apparently a known issue with these cars–the car does not do well with winter grade fuel when the weather is warm. The car will stall, and after waiting five minutes, I can turn on once again, rev it a bit, and get along my way. Tires on the car have pretty good tread–they’re only about three years old and have 20k miles on them.

I’m trying to decide if it is best to sell the car now and get into a newer one (I have enjoyed trying the 2009 Acura TSX). On one hand I know I can get around $5k for the current car and that value will fall once the 90k mark is eclipsed. But I figure I need to make an investment sooner or later–either in replacing the timing belt and committing to keeping the Accord for the long-haul, or giving it up before that work gets done.

So–what would you do?

I think that I would just have the timing belt changed and keep the Accord for a while longer. My reasoning is that it only has 89K on the clock. If it had 189K on it my suggestion would be to sell the car and buy a newer one but that’s not the case here.

How much do they want for the 09 TSX? How much less than new is it?

No matter what you do, change the timing belt soon. The Honda recommendation is 105,000 miles or 7 years; whichever comes first. You are 5 years over the recommendation.

And having the work done will increase the value of the car.

You’ve been driving the Honda for 7 years. If you want a new(er) car and can afford it - go for it. On a strictly financial focus, the Honda with a few $$$ on maintenance has a lot of good miles and years left in it. Question is; are you going the be the one still driving that Honda or will it go to someone else?

This is one of those emotional vs financial decisions. Most cars are purchased for emotional reasons, so no need to apologize if you go for a new Acura.

As mentioned, financially it is clear that you have to do the timing belt (way overdue) and drive this car into the ground.

Now, when someone already has tried the newer car already and then posing the question, I think you have already made your mind up and just want approval. In that case, I say life is too short, buy the new car, esp if you can pay cash for it.

If you are going to finance the 2009, a new TSX might end up being cheaper.

If you go for the TSX, keep in mind that it uses premium unleaded. Many, many people buy these premium cars, then come on here asking if they can cheap out on the gas because an extra $3 per tank is really breaking the bank. If you keep your Accord, get that timing belt replaced, well, five years ago. If you think having the timing belt replaced is expensive, you should see how much it costs to repair the damage done when it breaks while the car is running. Hint: the cost of the job usually triples, maybe a little more. Also, spring for the whole shebang so you don’t have to worry about it for another seven years: water pump, idler pulleys, tensioner, cam and crank seals, and the timing belt. Skimping on these items can cause premature failure of the new timing belt or other related problems.

What do you you mean the car is bad with “winter grade” fuel?
Is that even a real thing? I bet you have another issue causing the cold stalling. Anyone?

As far as selling, it is always cheaper to keep.
Depends on your finances.

Mark 9207,I know a lot of people that smugley tell me thier Nissan Supercharged pickup runs just fine on regular,but what they dont realize is the computer cuts it back about 10% and they essentially have the same output as a naturally aspirated engine.So if you think you cant afford the premium,then that really is a consideration-Kevin

My own 2 cents…

I have been pondering a similar question the past few weeks…However i have a 16 year old Subi with 260k miles and you have a 12 year old Honda with ~90k miles, which is also known for lasting a loooong time.

I know this isn’t an apples to apples comparison, but i think the following questions are pertinent…

1.) Assuming you are going to finance a new vehicle:
a.) How much will your insurance premium increase since the car is being
financed? Insurance companies tend to require FULL coverage (comprehensive and collision) on
vehicles that have been financed

b.) I bet the cost of replacing the timing belt/water pump and miscellaneous items that go with the 
     change will be less than a year of insurance for the new car that is financed.

I don’t know what your finances are like, but this seems like a perfect car to give to a family member that may be heading off to college (after timing belt has been fixed of course) or maybe a first car for someone that just got their license.

Parts for this car of ridiculously cheap since there have been so many produced. You can also hit up a junk yard with ease to find parts for this vehicle if something were to break.

Again, just my own two cents.

-s

Thanks everyone. Here’s what I know:

-To get the belt changed, it will be $580 from the mechanic I have always taken the car to. He says he’d like to see the condition of the tensioner, water pump, etc. before replacing those.

-The 2009 TSX cars I’ve seen are around $21-23k for a 30-35k mile car. This is about 25-30% less than retail.

-I would not be paying cash for all, probably financing $10k. At 3.49% you’d pay $650 in interest over three years which isn’t all that bad.

-My mind definitely isn’t made up. I love the TSX but I also know the Accord has a long road ahead of it too which is what makes this a bit tough!

Very much grateful for all the thoughts, do need to look into insurance!