A friend is selling a Honda Accord 1991 EX Standard transmission for $1600 US. His dad is saying to let it go for $1300 and he's offering to sell it to me for $950 in June if it isn't sold by then.
Now, I used to think that would be a damn good price, till I found out more about the condition of the car and till I had a talk with my dad.
The car has 190 000 miles on it. The clutch has never been changed, and the engine was rebuilt at 95 000 miles after an accident. There are some rust problems on the body and worse, the car eats oil. A couple gaskets had to be changed, and a couple of spark plugs had to be changed too because oil was leaking from them. What's that you say, oil leaking from spark plugs? It turns out that that could be caused by bad piston rings or a cut in the cylinder wall. The car makes a noise in the engine when it is moving. My friend says "That's a noise that honda engines make" but I don't buy it. It's hard to describe the noise, its like a knocking noise or something.
Anyway, with all this in mind my dad says I shouldn't put more than $320 into the car. And to think I would have put almost $1000 into what I thought was a "damn good deal" at the time. I don't know.. I think $320 may be underpricing it a little and he might just sell it to someone else but I dunno.. I'm no mechanic. What do you think this car is worth?
Now, I used to think that would be a damn good price, till I found out more about the condition of the car and till I had a talk with my dad.
The car has 190 000 miles on it. The clutch has never been changed, and the engine was rebuilt at 95 000 miles after an accident. There are some rust problems on the body and worse, the car eats oil. A couple gaskets had to be changed, and a couple of spark plugs had to be changed too because oil was leaking from them. What's that you say, oil leaking from spark plugs? It turns out that that could be caused by bad piston rings or a cut in the cylinder wall. The car makes a noise in the engine when it is moving. My friend says "That's a noise that honda engines make" but I don't buy it. It's hard to describe the noise, its like a knocking noise or something.
Anyway, with all this in mind my dad says I shouldn't put more than $320 into the car. And to think I would have put almost $1000 into what I thought was a "damn good deal" at the time. I don't know.. I think $320 may be underpricing it a little and he might just sell it to someone else but I dunno.. I'm no mechanic. What do you think this car is worth?
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