Should I buy a 2004 Honda Accord with 220,000 miles?
I need help with the economics of this decision. I am looking for a used car at the 4K range. I can't spend very much since I am 21 years old in college and only have enough saved up for something around this range. It's been difficult to find the right car, but I found a 2004 honda accord EX for 4400 in great condition and I can tell it is has been well cared for, but my only reservation is that is has so many miles on it. There is an older 1999 accord with 150000 miles but its not in as good condition and I would rather have the 2004. But being a first time car buyer, all of the advice given to me has pointed out that you should never buy a used car with over 200,000 miles. Can someone add their input? is it wiser to get the older car with less miles, or vice versa?
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Mr_Shiftright
Member Posts: 64,481
I think the question is not whether you should buy it, but what you should pay for it.
Statistically, the car's lifetime is over, so you are on borrowed time; given that this car had very good care, it may indeed soldier-on for a while, but realistically what can we expect before a major component failure. Presuming it hasn't had a new engine or transmission, either of these could expire at any time.
So your purchase is risky---it's worth a bet, but not a full retail bet. $4400 is just too much for the car.
Have it checked out with a pre-purchase inspection, and if it sails through with flying colors than offer $3,500.
Think of this car has an old man in great shape--he may be good for a short hike but maybe not to run a marathon.
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Depends on how much maintenance has been done, how easy was it driven, how well can you mechanic and how long you have to look for another car? 4400 is a LOT of money even for a used car. sounds like you are rich. I paid 4800 for a 1995 Lexus with 126k miles and maintained well and driven lightly.
Here is a Chevy with 1/3 the miles and a supposed 5 yr warranty
http://www.cars.com/vehicledetail/detail/611077963/overview/
My son has a 2007 with 130k on it. Only non maintenance repair was a wheel bearing
and it runs great.
I would not buy one with that many miles on it at that price. Those can't be your only 2 choices. Does it have to be an Accord? Why?
'17 Chevy Volt Premiere
Thanks for all the input! I am going to keep searching for something cheaper but I will probably still look for an accord just because my dad has a crv and my sister has a civic, and I have done lots of work on both of these cars. So its only a matter of preference and convenience really, since the accord engine is nearly the same as the crv which will come in handy when I will eventually have to do maintenance or repairs. Also, I am going to try to ask the dealer of the 2004 for a lower price because of the high mileage before I start my search from scratch again.