Hey everyone

Was hoping to get some feedback. I recently came across a 1996 Honda Accord EX wagon VTEC auto with 34k original miles. It is gold on tan and has everything except leather. The car is perfect, only a few scratches and was garaged kept with no rust. The t-belt and water pump were replaced two years ago and the car has new tires.

The car is perfect in everyway but the seller wants $6k for it. I know Accords of this year/miles are hard to find and desirable as well as being really good cars. I also figure the wagon are ever harder to come by and just plain cool now. So whats the verdict, is the $6k asking price too high? Theorecially if I drive it for two years and put on another 20k miles on it (for a total of 54K) what do you think it would be worth then?

Looking forward to the feedback...

 

That is a great find...very cool accord for sure. I am not sure of what the high end of blue book is on this car, but that would be my comfort level if I intended to make an offer.

 

Yeah high retail looks like $6500 according to kbb.com but others like NADA show $1,000 lower. Most of the bump is for the miles. But with these things getting 200k miles no problem it should last a long time. I just find it amazing these things value hold up so well. The same car but a Ford Taurus would probably be lucky to get $4k!

 

Hey, its a Honda, but they are worth only what you are willing to pay for it. Yes, it is a great car, but it is also going on 16 y.o. and cannot hold that kind of value much longer. Who would pay over $5000 in 2 years for an 18 y.o. car ??

 

It sounds like they're most of their asking price is based on the fact that it's got extremely low miles. That's usually a good thing, but really it is a 16 year old car. I would love for mine to have 34k on it, but I would not choose a $6k 34k mile car over a $2500 150k mile car especially since Hondas can easily hit that 250k mark on original engine and trans if they're cared for well. Another thing to factor in is how long do you expect to keep the car? If you're going to drive it until it's dead, the car will certainly give you a hell of a lot of miles still. If you're going to keep it for a year or two and then want a new car, you might want to go for a later model with similar miles for a similar price. It will keep its value better. 1996 is getting to be old

If you're looking at private sales you could easily get low-ish (under 75k) miles into the early 2000's for that $6k, at least over on this coast. You might want to consider that as an alternate option if you're worried about the car retaining its value. People will try to lowball you more with older cars. I learned this while posting mine on Craigslist for fun a while back. I was getting offers for $800-$1500

 

I think Peli put it well, if you are planning on keeping the car indefinitely it might not be a bad investment; but if its only going to be short term probably not. Finding a buyer for cars like that is always a challenge.

While finding one in near mint condition is cool, esp with low miles like that, I personally wouldn't pay more than 3-4k for it.

I recently picked up a 2001 Volvo V70 T5 wagon for $4999 with 130k miles. It has far more options than any accord wagon, and makes 100hp more. Just throwing that out there to consider.

 

I agree with the fact that low mileage and near mint condition should build value in the car. The seller can ask whatever he wants for it, and it may not sell for months, because it just isn't a good investment for a short term owned car. If the seller will listen to offers, I wouldn't go over $3500 until he countered your offer at $5000. Then, if he is a serious seller, it will be time to justify your offer and remind him of the age and future depreciation of the car. If he doesn't budge on price, walk away and let him think it over for a few days, then re-offer him a price you are comfortable with to buy the car. Don't forget that it is and older car...

 

Well the seller emailed me back and countered at $5,500. What do you think? Would be alot more comfortable at $5,000. Oh and I made a mistake, it is a 1997, not a 1996. My mistake (not that it makes much differerance).

 

Ask him if he'll split the difference at $5,250 if you're comfortable with that.

 

I would offer $5000 cash....That is a very fair offer for that car.