Is it worth buying an older car with original miles?
I'm looking at this 98 Honda Prelude Sh that has 20k original miles. They're asking 14 grand for this car which normally would turn me away. But I see similar preludes around my area that sell for about 5-6 grand with "reasonable" miles. (140k-170k). Now I'm having second thoughts, any suggestions? No doubt I'm in love with this prelude, but 14 grand is gut wrenching.
Screw that, You could get a newer, modern car for $14K, something like a 2007+ Civic with reasonable miles. I did a calculation and that Prelude is only worth $5000, the guy is pricing his car like it's the year 2000 right now. Even if it has low miles, there's still wear and tear from the 16 years that it has been sitting there.
I KBB'd it myself, didn't even bother asking about the miles and it said 3k something. Again, they go for about 5 grand where I live.
Advice/suggestions, is what I'm looking for.
Kelly Bluebook says it's worth about $2,533
14 grand? Walk, no, run away!
That is a long time for a car to sit, still going to need a lot of upkeep, just like any 16 year old car.
If the miles are correct the car is worth more but not $14k.
Once you start driving the car and adding miles, it just becomes another old car worth the same price as the rest.
I suggest you decide what you can stomach offering when you know the value has dropped.
Offer that amount and see if you get a call back, maybe not immediately, but noone will give them that high number, ever.
You can then put the idea to rest and go about finding a regularly hiway driven car that meets your needs.
Since you love it, you must master it before it masters you!
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