2004 Honda Accord Totaled by Insurance - Take the Money or Repair?

Asked by Jan 14, 2015 at 03:51 PM about the 2004 Honda Accord EX

Question type: Maintenance & Repair

Hello  I have a 2004 Honda Accord EX (4Cyl) with 132K miles. The insurance
company is totaling the car because the hood, grill and headlights were damaged.  A
vehicle had into the car.  Two questions:  Should I take the money and simply repair
the damaged areas.  There is no structural (ie: frame) damage. I like to keep it for
another 4 years.  The 2nd question is if I take the money, the car will get a "salvage"
title. For a 15 year old car (projecting 4 years into the future) would the salvage price
be very different than the car of similar mileage and age without a salvage title?  I am
thinking the car would have depreciated enough where the price difference would be
minimal. Thank you for any feedback.

5 Answers

8,175

a salvage title will make it hard to sell

4 of 4 people found this helpful.
258,045

Agreed, only buy it back if you love the car and you want to drive the car into the ground over the next couple years. Then again, it might cost you more than you think to repair and you might have nagging problems with it. Don't take the first offer and do some research on value of the current car and negotiate with your agent for a little more and get a nicer newer car out the deal. Good Luck!

3 of 3 people found this helpful.
3,595

Take the money from the insurance company and run, unless you plan on fixing the car and running it into the ground yourself and then junking it. If you were to resell it in another four years with a salvaged title you would get next to nothing for it. Just do the math, at 12,000 miles a year on an already 11 year old car, it will be 15 years old with 180,000 miles on it. Unless someone is very stupid, you would be very lucky to get a couple of hundred dollars for it by then, if that much.

1 of 1 people found this helpful.
85

Yea, unless you can get an accurate, acceptable quote to make it drivable for you....and you plan on just junking it after another four years, total this car out and get a replacement. I wouldn't buy it in 4 years with a salvage title.

1 of 1 people found this helpful.

How much did they give ubfor the car i have the samething going on

Your Answer

Accord

Looking for a Used Accord in your area?

CarGurus has 59,155 nationwide Accord listings starting at $1,099.

ZIP:

Honda Accord Experts

  • #1
    Tom Demyan
    Reputation
    2,220
  • #2
    JP1956
    Reputation
    1,710
  • #3
    Jonathan Ford
    Reputation
    1,600
View All

Related Models For Sale

Used Toyota Camry
886 Great Deals out of 81,522 listings starting at $999
Used Honda Civic
737 Great Deals out of 68,782 listings starting at $1,350
Used Honda Accord Coupe
141 Great Deals out of 8,261 listings starting at $2,000
Used Nissan Altima
971 Great Deals out of 77,789 listings starting at $1,695
Used Toyota Corolla
762 Great Deals out of 54,186 listings starting at $1,500
Used Honda CR-V
718 Great Deals out of 56,962 listings starting at $1,200
Used Nissan Maxima
253 Great Deals out of 22,718 listings starting at $1,400
Used Acura TL
136 Great Deals out of 4,402 listings starting at $1,995
Used Hyundai Sonata
715 Great Deals out of 50,446 listings starting at $1,995
Used BMW 3 Series
1,062 Great Deals out of 33,450 listings starting at $1,000
Used Kia Optima
387 Great Deals out of 30,183 listings starting at $1,900
Used Ford Mustang
546 Great Deals out of 35,433 listings starting at $1,200
Used Chevrolet Malibu
938 Great Deals out of 64,906 listings starting at $1,995

Used Cars For Sale

2016 Honda Accord EX For Sale
4 Great Deals out of 185 listings starting at $14,995
2015 Honda Accord EX For Sale
14 Great Deals out of 573 listings starting at $12,595
2014 Honda Accord EX For Sale
35 Great Deals out of 870 listings starting at $9,995
2013 Honda Accord EX For Sale
7 Great Deals out of 214 listings starting at $9,500

Content submitted by Users is not endorsed by CarGurus, does not express the opinions of CarGurus, and should not be considered reviewed, screened, or approved by CarGurus. Please refer to CarGurus Terms of Use.