How Much Should I Pay: 2001 Honda Prelude
Question From Danyel: The 2001 Prelude would need painted, sun roof replaced,and the driver side window doesn’t seal all the way. The tire rubs really bad on the passenger side when it drives over bumps or applying the breaks. There is a whole in the fender well from the rubbing. It’s a salvaged title due to it being stolen. I did see some crumpling on the driver side in the engine compartment, so I am assuming that it was in a wreck too. It has 122,000 miles. The car hasn’t been inspected since 07/2008. How much should I pay for this car. The dealer doesn’t want to go any lower then $3900 but I think it is only worth $2000 at most.
Queen of the Road: Hi Danyel. Welcome to AutoBragBlog! I recommend you pass on this one.
Are you sure you want to buy this car?? Sounds like there’s going to be alot of money invested into it and it wasn’t cared for well enough, PLUS the salvaged title will scare anyone you try to sell it to in the future.
For a 2001 Honda Prelude Coupe with 122,000 miles, wholesale prices range from $5,700 (being in above average condition) to $4,800 (being in average condition) and $3,800 (being in below average condition).
A dealership will usually aim to sell it for +12%-14% more than wholesale, so their estimated retail prices could range from $4,600 to $5,700. A private seller will usually aim to sell it for 5%-10%.
Check the carfax and do plenty of research on the history of the vehicle. Ask for their maintenance records. You can even bring a mechanic for a brief inspection. Here’s a good article to read before continuing: Car Buying Tips From An Insider.
Good luck and keep us posted on how the purchase goes!
July 3rd, 2009 at 6:24 am
I think this car has some previous damage history to that front that’s rubbing. it needs an alignment or a new strut. usually its a sub frame problem from the impact.
check the inside of the engine bay and look for big wrinkles where the fender attaches and change in color from replacing the fender.
usually salvage cars pricing is 30% lower than retail. find the retail which 4800 so you should offer him 3300 thats how it is. salvage never brings full retail no matter what they did to it.
so pass on it probably because of sub frame damage, but if you still want it have a mechanic look it over and don’t pay over 3300
good luck
phil