Damn Honda Accords have GREAT resale value!

[RossMAN]

One of my friend's parents is selling their 1998 Honda Accord EX V6 leather so they can buy a luxury car. I'm not exactly sure on the options or mileage but he said they do a normal amount of driving so I'd guess 60k-65k and it's an automatic, zip code 97206.

Kelley Blue Book (which isn't 100% accurate) says it's worth $14,155 in excellent condition.

So I checked out the classifieds section of The Oregonian, our local newspaper. 98 Accord EX V6's are routinely selling for around $14,000 not bad for a 4 year old car!

98 ACCORD EX 4dr, V6, pwr opts, lthr, CD, 63K mi, excl cond, $13,900.
Published in The Oregonian on 08/20

98 ACCORD EX, V6, 55K, loaded, 1 owner, non-smkr, excl cond. $14,000/ofr.
Published in The Oregonian on 08/20

98 ACCORD EX V6, dk grn w/ tan leather, loaded, 53K, excellent condition, $15,950.

I'm thrilled to see this because when I sell my 02 Accord SE I should get a fair amount for the car.

 

[Don Vito Corleone]

I did very well when I traded in my Accord EX V-6. I hated the car and was glad to be rid of it, but the dealer seemed just as pleased to acquire it. Curiously, the Passat leads the market segment in resale (I find this strange since its long-term reliability is not up to Toyota/Honda standards), but the Accord is a proven winner in resale as well. My Maxima's resale is nothing to write home about, but I love the car, which I figure is worth something!

 

[badluck]

Yeah, I was glad to see my Honda CRV listed in this years Residual Value Awards

Accords hold their value very well....I almost bought one for that reason alone.

 

[RossMAN]

Originally posted by: badluck
Yeah, I was glad to see my Honda CRV listed in this years Residual Value Awards

Accords hold their value very well....I almost bought one for that reason alone.

I wouldn't buy an Accord based solely on it's resale value but that certainly was a factor when I blew my $17,244 wad.

 

[badluck]

I wouldn't buy an Accord based solely on it's resale value but that certainly was a factor when I blew my $17,244 wad.

yeah, the keyword is "almost" bought one for that reason alone.....I'm a cheap bastard, so resale value is very important to me.....especially on an asset that depreciates quickly.....

 

[Maverick]

yeah even the older accords have a good resale value...my 7 year old accord with 110k should still fetch me between 4-5 grand. Not bad.

 

[goodoptics]

<< Damn Honda Accords have GREAT resale value! >>

It's been like that through the years. You sounded you were surprised to know that. I assume you had known that before you bought the Accord.

 

[Sealy]

I had a 92 honda accord exr and I bought it for 6 grand Canadian, and sold it for 10 grand Canadian! Not too bad, since it had 180,000kms. Great car, but parts can be pricy if you ever have to fix it!!

 

[UNCjigga]

Lets see, my '02 Accord EX PPV (private party value) works out to: $22,055!!!!!!!!

My cost: $22760

Not bad...especially considering that my cost is based on the full MSRP (which is how my lease was calculated.) My dealer said he's known of instances where people leasing Accords actually bought their car at the end of the lease, drove off the dealer's lot and into Carmax and sold it and made over $500!!!

 

[Moonbeam]

They want about as much for a 01 civic as I paid for it new.

 

[StageLeft]

Although you're right and people pay those numbers I think you'd have to be a crack head to do it. Why pay $15k for a 3-4 year old accord when you can buy a new one for $4k more?

 

[RossMAN]

Originally posted by: Skoorb
Although you're right and people pay those numbers I think you'd have to be a crack head to do it. Why pay $15k for a 3-4 year old accord when you can buy a new one for $4k more?

I hear ya loud and clear. If you're selling a Honda Accord you're going to do great because idiots would rather pay $14k-$15k for a few years old Honda than spend an extra $2-3k for a BRAND NEW Accord. Unless I got a killer deal on an Accord I'd buy one new. If I were to buy a car which doesn't hold it's value (cough cough Nissan Altima cough cough) then I'd consider used.