Not too long ago (but in a galaxy far, far away) I wrote about the deals you can get on unpopular new cars that have brand new replacements waiting in the wings.
Today we’ll examine what happens when those vehicles fall off the depreciation cliff. Again.
This 2011 Honda Accord LX has only 8,900 miles on it.
But it is the automotive equivalent of a heffalump at a retail lot. Because it also comes with…
1) A five-speed manual transmission.
2) Carfax confirmed accident & frame damage history.
3) A new generation that has just been released to the public.
The Honda dealer down the road from me needed well over six months to sell all of two manual equipped Honda Accord sedans that were allocated to him for this year. They each sold for $18,500 out the door. A minor loss on paper and more than likely also in the perception of the Accord as a premium vehicle to a limited extent.
Let me explain the dealer perspective on this. Manuals can do fine on the seemingly fun and sporty midsized vehicles… so long as you keep the sticks spec’d towards sportiness.
Toyota and Nissan can get away with selling SE branded models as sticks because there is at least a passing glance towards sporty driving. The Altima SE more so. The Camry SE less so.
However, big boring base models don’t have near the level of market acceptance when it comes to all things stick The larger the car. The more comfort oriented the interior. The less you can sell this stick.
This Accord happened to fit all three pre-requisites for flying off yet another depreciation cliff. Big. Boring. Base.
The minor accident history and the buzz on the new Accord all but closed the coffin like interest in the Accord today. Still, it is an Accord and rarely is there a vehicle in the marketplace more popular and well-regarded as one with this hallowed name. So it will sell. Somewhere. Somehow.
Your question for today is this. How much? As a measure of value for all things Accord, let me just say that I bought a silver 2005 Accord LX sedan for $7300. Mid-level. No sunroof. But owned by one family with dealer records and no accident history.
You want a better yardstick than one? Check Autotrader, Craigslist, or even the values given by Edmunds, KBB and NADA.
Then check your gut. Make a guess, and perhaps throw in a nice story of a stick bought for cheap. Did that car equipped with a handshaking theft deterrent system meet my critieria? Or was it that rare good deal that is as common as this Accord?