I've heard nothing but horrible things about the 2.7, yet I've never experienced nearly the amount of hardships anyone else seems to have with this engine. My wife (fiance at the time) bought this car in July '04 with 31k miles on it. It's been nothing short of a workhorse for us. Of course at around 50k miles, the check engine light came on, and looking around online, I found tons of reports of the dreaded engine sludge fiasco, but it seems mine was a later 2001 model that avoided this issue. The light turned out to be for an emission issue that didn't affect how well the car ran. Now, in 2013, nearing 150k miles, I still drive it 60 miles a day with minimal upkeep.
I must admit that I initially thought this car was for a senior citizen when I first looked at, when my father wouldn't take it, I kept it and boy am I glad I did. Fuel efficiency is great, it takes 87 gas unlike my Cadillac and the acceleration with the 6 cyl engine rivals that of a sports car. The ride is soft and roomy. I really have no complaints. Nothing has broken down ever, and I've put about 80,000 miles on this car in 2 years and it already had a 100,000 on it when I bought it.
I purchased the car used (with the 2.7 liter engine) as a a roomy rather fuel efficient, full sized family vehicle. The car had 65,000 at the time of purchase. Less than a year later, at 75K, the internal water pump failed and flooded the engine with coolant, and also a loose exhaust valve guide caused the valve to wiggle and not seat seat properly, in turn causing damage to the valve seat. Hence the cylinder wouldn't hold compression. The total cost of repairs was $2,481 !! The 2.7 liter has an awful reputation of premature, catastrophic failures. Research the web!! I did, but it was too late for me! Stay away from the 2.7. Trust me.
I bought the car in 03 with 67k miles in 07 120k 60k later timing chain went 130k all four struts needed to be replaced and the front hubs were shoot. Now a 167k the transmission axle on the passenger side is loose and and noisy. Father don't buy this car for your daughter's first car to take to college. Other minor issues are door windows move slow and the window control switches won't stay in place. When i bought the car it rode great and still looks great but every 30 thousand i have to put in the shop for a major repair i love the car but i don't think i would buy it again.
My concord has 350,000 kilometers on her and she purrs like the first day she was purchased. regular fluid changes and minor undercarridge replacements, other than that, its very quick for a large car, best car I ever had, hope to make it to 500,000 ks at least.