I am looking at purchasing a used accord. It’s a 2008 accord with 21,000 miles. It has the 4 cylinder engine.
Is this a good buy at 15k?
Impossible to say without more details. Coupe or sedan? EX or EX-L? Condition? Private party sale or dealer? Etc…
You can plug in all the details yourself here and get pricing info:
Probably was owned by an older driver who used it mostly for short trips around town. That’s typically how you end up with an older vehicle without many miles on it. The problem is that kind of driving, made up of mostly small trips, is harder on the car than longer freeway trips. I might be wrong, but see if you can find out who drove it. If the owner was elderly, think of it as a six-year-old car and don’t give it too much credit for the mileage.
Take it to a mechanic for a pre-purchase inspection and you’ll have a much better idea.
Seems high compared to the price of a new one after 6-7 years of depreciation and aging.
No, it is not a good deal. Edmunds True Market Vale (TMV). Is $14,500 for and EX-L with auto transmission at a dealership and $13,000 in a private party sale. The estimated mileage adjustment is $1100. The seller probably thinks the mileage adjustment should be higher than it really is. Tell us which model (LX, EX, EX-L) and transmission, and we can tell you the value. An EX and especially an LX will be worth a lot less than the EX-L. If it is a dealer there is always room to negotiate and they will eventually let it go for a reasonable price. It could take a lot longer with a private seller. They are often not logical and may never understand the real value of the car. It could take several months before a private seller starts to ad just the price downward.
I agree with @Bing since this car is over-priced.
I agree that private sellers often are unaware of the “true” value of the car they’re selling
Years ago, I was looking to buy a used car for my brother. The car was in good overall condition, and I offered him $3000, which was the going rate for that car, with x amount of miles, trim level, etc.
The seller stuck to his guns and insisted on $3300. I walked away, because I didn’t want to overpay
For months, it wouldn’t sell. I know this, because it was still listed for sale. The ad hadn’t changed
As soon as he lowered the price to $3000, it sold almost immediately
I don’t think this is particularly a bargain, but the price is within reason. If it suited my fancy and a pre-purchase inspection showed it to be in very good condition, I wouldn’t hesitate to purchase it in this price range. To my way of thinking a newer car with higher mileage would be a better choice – like a 2011 with 100 K – simply b/c higher mileage means a lot of freeway miles, which is the best type of mileage, easy going on the drivetrain and exhaust system.
Some things to ask your mechanic to inspect for in a low mileage car are
- clogged fuel system
- oil clogged valve train (esp if it has variable valve timing)
- evap system problems
- tire problems (e.g. do they have flat spots?, etc.)
- rust (esp in the exhaust system)
- front/rear main seals, cam seal, transmission seals
- condition of visible rubber parts
- it’s always a good idea to get all the pending DTC’s read
@GeorgeSanJose, we don’t know which model it is. Even for an EX-L, it Is slightly overpriced on a dealer’s lot. There are no factory options on Hondas so if the price at Edmunds or another site that monitors selling prices is at a certain level, there is not much reason to think that extra $500 buys you anything.