There is a Honda Legend for sale - 2001 51 Reg - 38,000mls only - there is only 1 model and only 30/40 were sold / year
One owner (deceased) / Then son as executor
FSH @ Honda Main Dealer
Looked at the usual in Autocar (Trade & Private sales) but most are high mileage - this one is near mint for year but 3.5ltr cars are not that popular with petrol being a consideration for most buyers.
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I'll have it!
How much?
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The seller (Son of the original deceased owner) wants £7000
I will leave hime a few days and call to see what "today's price is"
In 4 weeks he has dropped £1000 and I have not spoken to him in that time
so another £500 drop seems possible
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Interesting question. Having been looking in the market for just such a vehicle, I would say the forecourt price will be around £10-11,000. If the valuation is for probate purposes then you probably have to go with whatever the trade says it is worth as a trade-in but what I have seen suggests it will go on the forecourt for £5000 more and sit around for months until someone with more money than sense comes along. Superb, if understated, car. I hope it is not aubergine. Someone will have a Glass's price for it.
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I too would seriously consider buying this car. I have the use of one in the Middle East when I visit Head Office on business and they are lovely cars.
No idea what its worth here though.
Only problem is fuel consumption , unlike here, in the Middle East I can fill the tank for around £3.50.
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They are nice cars but very few people want them so prices tend to be low. Few parts are available outside the dealer network so running costs can be high (e.g. an exhaust may cost you £1500).
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Few people want them???? -
You have three people on this thread have already said they would buy it .......
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But would they really? When it comes to parting with hard cash a lot of folks default to more traditional choices. Few traders are keen on taking on a Legend (ditto Nissan Maxima, Toyota Camry, Subaru Legacy saloon) because they are a bit of minority interest with no status and potentially high fuel and repair costs and can sit around for months without attracting a buyer. This is reflected in the relatively low trade values.
They are all excellent cars IMHO, but the UK market tends to dismiss big Japanese saloon cars.
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I think the dificulty here when deciding what the car is worth is the big difference in percentage terms between trade-in and forecourt prices . I would happily pay a private seller what the franchises appear to be offering as trade-in and take the risk on a 38,000 mile Legend. I accept the dealer then has to build in his own risks for warranty claims and then profit but in the case of the 3.5 Legend it seems to be double the trade-in value. I just could not bring myself to pay £10,000-11,000 for such a car suspecting the last private owner was given half that. An auction might fix a value but how many non-trade people interested in a Legend (30/40 registrations a year latterly?) are going to turn up at an auction on the offchance.
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Personally I would say £5k - tops... and in another 5 years zero... so depreciation is still going to be major at that price...
Bargepole unless under £5k imo
madf
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4k and risk being robbed, lucky if a trader even made a bid at it why put your money into a non seller when you can sell fiestas all day long is their thought.
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Results from Parkers for a 50k one:
Original Price £31,995
Franchised Dealer £8,225
Independent Dealer £7,510
Private Good £6,995
Private Poor £5,760
Part Exchange £6,215
Given Honda's quality and assuming it has been well maintained, it could make sense as a long-term hold (5--10 years or more), after which the loss of £5000+ won't hurt much (neglible in terms of annual rate) and there is even a chance that its intrinsic qualities may gain recognition in the sub-classics market. If at the end you can look back on a largely problem-free history -- not so fanciful with Honda's reputation -- that's got to be worth something to someone.
Or you could buy five newer cars within that time period and lose £40k and more in depreciation.
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Given I drive a Subaru, buying a Legend is a positively sane prospect!
I drove one a few months ago that had been hammered over its seven years and 120,000 miles. It drove like new.
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If I paid 5k for a car and 5 years later it had depreciated to zero I would believe I had done pretty well. 1k a year in depreciation seems pretty good to me - and cheap for five years of Legend-style delightful motoring. I've been there.
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Absolutely right. Trouble is a quick look on Autotrader suggests the dealers don't read Parkers. The only way I can see anyone getting a five-year-old, low mileage Legend for 5K is if they happen on a private seller miffed at being offered peanuts by the trade or one comes into auction on a snowy day in February.
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