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Buying a used Honda Accord in Brooklyn can set you back by $25,000

The Honda Accord has achieved a cult status with the honor of being the best-selling Japanese car in the United States for fifteen years.  Now in its ninth generation, the Honda Accord is extremely popular in the used car market.  Like any other car, it is extremely important to consider what your annual insurance outgo would be, as it can range from just 4%, going all the way to 21%.

Let us consider the case of Brooklyn. The median price of the car is the cheapest among the other cities from the state of NY, at least on this list. However, the insurance percentage is a whopping 21 %.

City Make Model Year Range Insurance Average ($) Median Price ($) Insurance %
Syracuse Honda Accord 2005 - 2012 901 19,900 4
Albany Honda Accord 2005 - 2012 944 18,497 5
Rochester Honda Accord 2005 - 2012 937 15,985 5
Buffalo Honda Accord 2005 - 2012 1,660 17,936 9
Brooklyn Honda Accord 2005 - 2012 3,688 16,995 21

How does this affect you? Let us consider the cost of buying a used Honda Accord and insuring it for the next seven years.  While it is only $22,544 in Rochester, it is $42,811 in Brooklyn. That is an incredible $20,267 more for seven years, or $2,895 a year, or saving you about $240 a month!

City Make Model Insurance Average ($) Median Price ($) Insurance % Cost over 7 years
Syracuse Honda Accord 901 19,900 4 26,207
Albany Honda Accord 944 18,497 5 25,105
Rochester Honda Accord 937 15,985 5 22,544
Buffalo Honda Accord 1,660 17,936 9 29,556
Brooklyn Honda Accord 3,688 16,995 21 42,811

Among the many reasons for the high cost of insurance in Brooklyn is simply because there are more thefts which happen in the area, as well as high number of accidents. Living in urban and higher crime areas has an impact on your risk of being a victim of auto theft, and hence the cost of insurance in Brooklyn is high.

Save up on the upfront cost by purchasing a used Honda Accord from Austin or Amarillo in Texas

The Honda Accord has been in production since 1976 and its four-door sedan is still considered one of the best selling cars in America. Since then, it has crossed over from being a compact automobile to a full size car. In America, however, it is still considered as a mid-size car as it fails to meet all the classifications of a full size car in the United States.

The car was in its seventh and eighth generation within the timeframe of 7 years between 2005 and 2012. The upfront cost and insurance rates of a used Honda Accord in Texas in these years have been provided below. Take a look and you will see that the rates are very competitive as far as insurance is concerned.

You will have to buy your insurance policy from your own zip code, but you can save on the upfront cost by buying it from a cheaper city.

City Insurance Average ($) Median Price ($) Insurance %
Houston 1,312 16,500 7
Amarillo 1,114 21,950 5
Austin 1,114 13,995 7
Corpus Christi 1,114 13,995 7
Dallas 1,325 17,995 7
Fort Worth 1,143 17,301 6
Arlington 1,174 16,500 7
Lubbock 1,111 17,996 6
Plano 1,089 18,969 5
Antonio 1,168 18,970 6
Waco 1,051 16,995 6

So, it has to be the upfront cost that should be the deciding factor in your purchase of the Honda Accord in the state of Texas. Insurance rates are the lowest for Amarillo and Plano but the upfront cost in Amarillo is quite high at $21950. You can get the same vehicle and save up to $7000 if you get it from Austin or Corpus Christi.

Waco also has a low insurance rate for used Honda Accord, but the median price is almost $3000 higher than Austin and Corpus Christi. Dallas, Fort Worth, Arlington and Lubbock ask for more or less the same price.  So if you live in Amarillo, Plano or Antonio, buying the Accord from one of the other cities might be a wise decision.

Factors to consider before buying a Honda Accord

The Honda Accord is just the right car for auto enthusiasts who have higher aspirations in terms of technical brilliance but are limited by their budget. The car is roomy, fuel friendly and has a better resale value when compared to other cars in the same class. The latest 2013 too is a great car and is extremely fuel friendly. The Accord was redesigned to increase its fuel efficiency, and the 2013 model has achieved this goal. It also comes with leather upholstery that lends the interiors an air of affluence.

The Honda Accord is a luxury car for those who wish to cruise around the city (with a mileage of 23 mpg) or for longer journeys on highways (with 34 mpg). While the median price of this car ranges from $11998 in Iowa to $28785 in Rhode Island, its insurance is cheapest in Maine.

Let us consider the insurance average of this car to figure out which state is the best to own this midsize car.

In Alabama, one has to spend 8% of the median price ($16991) on insurance. States where the insurance percentage is in double digits include Kentucky, Louisiana, Michigan, Montana and Oklahoma. But states where it is in single digits include, Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Maine, Maryland, Massachusetts, Minnesota, Mississippi, Missouri, Nebraska, Nevada, new Hampshire, New Jersey, New York, North Carolina, North Dakota, Ohio, Oregon, Pennsylvania, Wyoming, Wisconsin, Vermont and Virginia. Tennessee is close to the double digit insurance rate percentage; it stands at 9%.  But it is much better in Arizona, Indiana, Nebraska, New Hampshire, New Jersey, South Dakota, Texas, Utah, Washington, etc, where it is around 6%.

Although these are just the average insurance percentage when compared to the median price, they are a fairly accurate estimation of the price, upon which every prospective car owner can rely on.

Average Yearly Insurance Premium $1,380
Honda Accord MSRP $25,860
Estimated Monthly Income to Afford a Honda Accord Car including Insurance $480

Honda Accord - Average Insurance Price by Segment

Male $1,590
Male Married $1,380
Female $920
Female Married $850
Teenage Boy $3,990
Teenage Girl $2,740

Honda Accord Safety Features - 2013

Side airbags: front and rear head curtain airbags and front seat-mounted torso airbags Rollover sensor: designed to deploy the side curtain airbags in the event of an impending rollover Electronic stability control Antilock brakes Daytime running lights

Expensive States for Insuring Honda Accord

RankStateAverage Insurance of Honda AccordMSRPEstimated Monthly Income to Afford a Honda Accord including Insurance Cost
1 Michigan $2,400 $23,500 $460
2 Louisiana $2,200 $25,400 $490
3 Georgia $2,200 $25,700 $490
4 Oklahoma $2,000 $26,500 $510
5 Montana $1,800 $25,400 $480
6 Connecticut $1,800 $26,500 $500
7 West Virginia $1,700 $25,400 $480
8 Pennsylvania $1,600 $25,400 $480
9 Kentucky $1,600 $25,400 $480
10 California $1,600 $25,300 $480

Cheap States for Insuring Honda Accord

RankStateAverage Insurance of Honda AccordMSRPEstimated Monthly Income to Afford a Honda Accord including Insurance Cost
1 Maine $800 $25,400 $460
2 Iowa $900 $25,300 $460
3 Idaho $1,000 $30,800 $560
4 Indiana $1,000 $25,300 $470
5 North Carolina $1,000 $25,700 $470
6 Ohio $1,000 $25,300 $470
7 Arizona $1,100 $25,300 $470
8 Colorado $1,100 $25,300 $470
9 Illinois $1,100 $26,500 $490
10 New Hampshire $1,100 $25,400 $470

Honda Accord - Remaining States under Study

RankStateAverage Insurance of Honda AccordMSRPEstimated Monthly Income to Afford of Honda Accord including Insurance Cost
1 South Carolina $1,100 $26,500 $490
2 Virginia $1,100 $25,700 $480
3 Vermont $1,100 $25,400 $470
4 Washington $1,100 $24,500 $450
5 Mississippi $1,200 $26,500 $490
6 North Dakota $1,200 $23,400 $440
7 Wisconsin $1,200 $26,900 $500
8 Alaska $1,300 $26,700 $500
9 Kansas $1,300 $25,400 $470
10 Minnesota $1,300 $25,400 $470
11 Nebraska $1,300 $25,400 $470
12 New Mexico $1,300 $25,400 $470
13 Nevada $1,300 $26,500 $490
14 New York $1,300 $25,300 $470
15 Oregon $1,300 $26,700 $500
16 Texas $1,300 $28,600 $530
17 Utah $1,300 $25,400 $470
18 Florida $1,400 $25,800 $480
19 Hawaii $1,400 $27,200 $510
20 Maryland $1,400 $25,300 $470
21 Tennessee $1,400 $26,500 $490
22 Wyoming $1,400 $25,300 $470
23 Alabama $1,500 $26,700 $500
24 Arkansas $1,500 $25,400 $480
25 Delaware $1,500 $25,400 $480
26 Massachusetts $1,500 $25,300 $480
27 Missouri $1,500 $28,800 $540
28 New Jersey $1,500 $25,700 $480
29 Rhode Island $1,500 $25,200 $470

Honda Accord Models Comparison

Model Style Cylinders MSRP Average Premium of Honda Accord models Est. Monthly Income to Afford a Honda Accord including Insurance Cost
Accord EX 2 Door Coupe 2.4L 4 cyl. $25,900 $1,380 $480
Accord EX 4 Door Sedan 3.5L 6 cyl. $25,900 $1,470 $490
Accord EX 4 Door Sedan 2.4L 4 cyl. $25,900 $1,450 $480
Accord LX 4 Door Sedan Auto Trans 4 cyl. $25,900 $1,350 $480
Accord LX 2 Door Coupe Manual Trans 4 cyl. $25,900 $1,330 $480
Accord LX 4 Door Sedan Manual Trans 4 cyl. $25,900 $1,350 $480
Accord LX 2 Door Coupe Auto Trans 4 cyl. $25,900 $1,340 $480

Honda Accord vs Mid Size Coupe Insurance Comparision