I'm about to pick up a car from a dealership. One's a 2002 Honda Accord LX with 112k miles on it. The other is a 2000 Acura RL with 264k miles on it. Which would be better? I know the accord might be the obvious choice, but even though it has less miles on it, I read up that those old accord from that year were notorious for having major issues with their automatic transmissions. But both cars are up to date on their maintenance. So which would be the better choice?
What kind of dealer are you going to that is selling cars that are over 20 years old?
Hondas of that vintage are known to have weak automatic transmissions. That would go for the Acura as well since that is a Honda product. Mileage on the Accord might be accurate but is suspicious (about 5700 miles/year). I'd want to see that verified. (Of course if all else is equal lower mileage is better. The Acura, being more of a luxury model, will have more to break down.)
At that age how those cars have been treated and maintained over the last two decades is going the be the most important factor. You need to have a good mechanic do a thorough pre-purchase inspection.
How do you know those cars are up to date on their maintenance? Don't believe anything the dealer tells you.