I am undecided about whether buying a used 2004 Honda Accord with 190k miles is a good idea. Honda has a reputation for reliability, but isn’t 190,000 miles already too much? The dealer’s price tag is $5,900 with dealer fees, without tax and title.
The car had only one owner. It is an EX model with a 2.4L I4. It got in a “disabling accident involving front collision with another vehicle” at about 40k miles, which might explain that the car is below its retail price. KBB values the car at $7,827 in excellent condition and Edmunds says $6,362 in clean condition. The car drives great. It shifts smoothly. The brakes are firm. The suspensions make the ride very comfortable. It looks like the owner took care of the vehicle. The inside looks like new. No odor. No vibrations. There are some scratches on the rear bumper. According to the Carfax, the car was maintained pretty regularly (especially in the 30k miles following the accident when it got a maintenance inspection every 5-6 months). It values the car at $670 above the retail book value.
However, 190,000 miles still sound extremely high to me. I haven’t had yet time to have the car inspected by a mechanic. What do you think of this deal? Would the car last an additional 50,000 miles? And will I be able to sell it with more than 200k on the odometer and an accident in the records?
My personal opinion is that when a vehicle hits 200k miles all bets are off and any published price guides should be taken with grains of salt. Just my 2 cents but no way would I give near 6 grand for a 10 year old, near 200k miles, collision wrecked Accord that may or may not currently need a timing belt kit; or even a valve lash inspection.
I am not sure but think that the kbb and edmunds stop depreciating a car after a certain number of miles, in other words, the difference in the price of a car with 150K miles and 250K miles to them is negligible.
I would not pay anything over $2K for a car with that many miles. Even if it was very well maintained, it is still more likely to need major repairs.
If that is you budget, find some make/model that depreciates more than a Honda. You will find a newer car with less miles.
Ask how much it will cost to rebuild the automatic transmission and replace the timing belt in that car…Unless there is hard-core PROOF the timing belt has been recently changed, that needs to be done right now…I would call it a $2500 car…
I have a 1994 Accord LX with over 245,000 miles. It runs great bit has it’s quirks and requires about $1500/year maintenance/replacement expenses… but it gets ~28 MPG and is a “comfortable car”. Having said that 190K miles for a 2004 seems excessive.
Thank you all for your advice. I was not even looking at cars with that many miles. After seeing a 2000 Acura TL with only 65k miles but a bit beat up, the dealer suggested to check out the Accord. By comparison with the Acura, the Accord felt much better, but I will try to find another car with fewer miles.
Unless you actually get the paperwork for all of that maintenance . . .
Paperwork can be forged. I’d personally have to know the history. Like buying it from a close friend or relative that I trust.
IF the vehicle was maintained properly (AND I MEAN IF)…then this vehicle should easily be able to last a long long time. My wifes 96 Accord was last seen with well over 400k miles…and still going strong with the original engine and tranny. As long as it’s been well maintained these vehicles last a very long time. The problem is proving that it’s been well maintained.
According to the Carfax, the car was maintained pretty regularly (especially in the 30k miles following the accident when it got a maintenance inspection every 5-6 months).
Forget what Carfax says. It’s been PROVEN their data can’t be trusted. Carfax is a complete joke. When will the buying public wake up and finally run this company out of business.
I bought night 2004 263,000 it now has 231 thousand miles on it and it’s going strong you really just need to make sure there’s a timing belt or timing chain or the serpentine belt whatever you want to call it gets changed out and you’ll be fine
Is that really timely advice for the OP who was contemplating the purchase of that car almost 4 years ago? More than likely, he either bought the car and has already gotten rid of it, or decided to not purchase it in the first place.
My 2004 Accord with 312,000+ miles just got rear ended and totaled by the insurance. I really HATE to see it go, but at least they’re giving me almost $6 grand to find another.
That’s a shame. I wish it could have gone another 100K at least. I have to agree, $6 K is a pretty good insurance settlement for an 18 year old car w/312K miles. I guess it has to do w/the demand for used cars these days. Especially those make/models/years deemed to be reliable, such as the 2004 Accord.
We are still undecided on whether or not to replace it. I am now retired, and we have 2 - my wife’s HR-V and my Silverado HD2500. I’m trying to talk her into trading the HR-V for something just a bit more comfortable.
I think this car is grossly overpriced for what it is. Although I realize car prices are in a bubble these days, I wouldn’t pay more than $3k for this car in this condition and mileage. I realize that even the pricing guides have been updated, and that this price is still considered ok according to the market, but it’s just too much money for an old car with close to 200,000 miles and a previous accident.