Accord/8th Gen Accord Resale Values

Discussion in '8th Generation (2008-2015) [Acura TSX]' started by earthsciencer1, Thursday 13th Dec, 2012.

  1. earthsciencer1 Premium Member Club Supporter

    United Kingdom Bob Wetherby
    136
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    I have been looking at the possibility of buying a nearly new Accord and have come across one or two that have obviously been pre-registered by the dealer but have remained unsold. One of these was an ES GT Tourer, late 2011, with delivery mileage only, and offered at just under £19k. Out of interest, having expressed an interest in purchasing this, I obtained valuations from webuyanycar and wewillbuyyourcar. Both valuations came in at just over £13k, a 50% drop against the list price, which might be expected, I suppose. However, this was a lower valuation than my existing car, a basic Merc C-Class Estate with over 21k mileage, and nearly two years old.

    So the question is - is there a problem with Accord resale values?
     
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  2. Ichiban Founder Staff Team

    England CJ Leeds
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    This Accord has not sold like wild fire like the 7th Generation and it is a niche car so it has taken a hammering on values. There is no point hiding the fact a brilliant car like the accord finds itself deprecating faster than you can say brand new.

    Webuyanyshed DOT com always gives you peanuts to get a impartial valuation use the Honda valuation tool on their website, but be prepared to be contacted your local dealer to sell you Swindon wagons.. and they will advise you not to buy the Accord..

    So if you buying a Accord to give you a good return on investment I won't say to buy it. The CR-V holds it slightly better and will sell...but if you want a fantastic car better than any of the Swindon wagons , in pleasure and reliability then don't even waste your time just get the deal sorted on your Accord.
     
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  3. richsprint Account Closed. ★ ★ ★ ★ ☆

    Residuals on the Accord aren't great, they lose around 50% in 3 years. Would not recommend buying new, unless you plan to keep one for 10 years to get your moneys worth.

    This does make them good used buys at 2,3,4 years, reliable and good to drive.

    If you want good residuals you have to stay with prestige brands, unfortunately this country is obsessed with them! Or look at a new Accord on a PCP, this will give you a guaranteed future value.

    we buy any car values are a joke, always a good 25% less, they prey on people with little time, sense or patience to get a good price.
     
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  4. TheDarkKnight Expert Advisor ★ ★ ★ ★ ★

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    £19k for a late 2011 plater ES GT is about right. Even if the mileage is above 15K.

    As for those web based valuations, well, they are as useful as a flushed turd.

    You'd have to be insane to use them as a guide for anything let alone sell to them. They aren't even worth wiping your backside with thats how lame they are.
     
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  5. earthsciencer1 Premium Member Club Supporter

    United Kingdom Bob Wetherby
    136
    43
    Thanks for all the replies and comments. I totally agree that the prices quoted by these on line purchase companies are in no way representative or to be relied upon but what worried me was that they both quoted a higher value for my existing vehicle, even though the Accord, whose list price is similar, has never actually been on the road.

    Two other points:-
    -The colour is not listed for the 2012 model year (so this may actually be a 2011 model year?)
    -The specification listed by the dealer is that this car has both the SatNav and Parking Packs, which infact it does not.

    Incidentally my use of the web based valuation companies is to enable me to suggest to the dealer that I could get a better deal by selling my car on-line and effecting an outright purchase on the new car. Particularly in a case such as this when, after a year or more, you would think that they must be absolutely desperate to sell the vehicle.
     
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  6. SayamaAccord Top Contributor ★ ★ ★ ★ ☆

    Maybe hold your nerve a bit longer?

    I think once the formal withdrawal announcement is made there will be bargains galore including from 3rd party suppliers like Motorpoint.
     
  7. earthsciencer1 Premium Member Club Supporter

    United Kingdom Bob Wetherby
    136
    43
    Presumably you mean the announcement that Honda is ceasing to sell the Accord in the UK?
     
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  8. John Dickson Expert Advisor ★ ★ ★ ★ ★

    Was there not a time when Honda Accord values were rock solid? The good old days when the Accord was vying for top 20 if not even close to the top 10 sales figures.

    Honda really have to be congratulated on singlehandedly destroying the Accord in the UK and possibly Europe. :Sobbing:

    As we all know this is not due to the design and build or quality and reliability of the car. Just non-existant marketing strategy. Wish I could call it poor but that would mean some strategy would've had to exist! Suppose in a way you could call it inverse marketing strategy! What other company talks the few customers they still get despite no marketing, out of sales of their own products? Should be taking their hands off the few definite sales they claim to be getting!

    The current indecisiveness and lack of committment from Honda towards the Accord's future is only hammering resale values even further. Unfortunately, no one wants to pay book values for something that could possibly become obsolete at any time!

    Seems like they're really trying to drive us away for life! That was far more politely put than I'm thinking but can't put my exact words on here! I'm ANGRY about the planned forced extinction of the Accord!:Rant:along with the arrogance that we'll just have CR-Vs or whatever THEY want to sell us.

    Come on Honda sort this out one way or the other!

    Think I might be seeing how many years I can get out of my current Accord as nothing else in the Honda range has much, if any appeal to me and can't think of aything else from outside of Honda that I'd have over Accord. Would be interested in a "last of the line" model if that scenario happens, but will they still offer all specs. and colours etc. right at the end? Only got 41,500 miles on mine and quite enjoying not having to pay for it anymore as it's paid off so don't want to change immediately.

    I can't remember where but I recall seeing similar rumors elsewhere on the Web about the Acura TSX being discontinued and replaced with a Civic (US Civic at least not Swindon Wagon Civic) based alternative. Needless to say think there will be a similar outcry in the US if the TSX gets killed off.

    There's a thing, let's ditch the Swindon Civic and have the 2013 US version - Mini US Accord looks that'll do nicely! :Hooray:
     
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    SteveT likes this.
  9. jrd Club Member ★ ☆ ☆ ☆ ☆

    I'm of the same opinion. Can't think of another make/model that i would swap the Accord for.
     
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    John Dickson likes this.
  10. aislabyjim Junior Member ☆ ☆ ☆ ☆ ☆

    Looked at buying a 2013 CR-V but offer from Honda dealers for a 2009 EXGT (19800 mile) ranged from £12500-£1300 with an additional £500 "loyalty bonus". However to have both Satnav and a reversing camera meant purchasing the top of the range model which was outside my price range
     
  11. SpeedyGee Administrator Staff Team

    England Speedy Birmingham
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    Wouldn't it be funny if some third party came a long and started advertising the Honda Accord heavily in UK media and the demand for Accords shot up. What a kick in the teeth that would be to Honda UK. It's a superb car, advertised correctly it would sell like hot cakes.

    Oh hang on let me slap myself back into reality :telloff:
     
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