Honda neither approves nor disapproves towing an older Accord 4-down. They give a procedure for placing the transmission in a towable mode but will not officially sanction 4-down towing because they have not tested it.. Recently Honda has taken an official stance that disapproves of 4-down towing on all current models except the CRV and they will not warranty any transmission damage that may result from towing 4-down. That position is not retroactive to your model year.
Here is Honda's official statement regarding towing of vehicle prior to the ban:
QUOTE:
We are not aware of any particular problems being caused by towing any 1988 or prior year Honda/Acura automobile, with either manual or automatic transmission, with or without power steering, regardless of towing speed or mileage.
1989 and subsequent model year Honda/Acura automobiles have minor changes to the automatic transmission. If a 1989 or subsequent model year Honda/Acura must be towed with the front and all four wheels on the ground, we recommend the following before towing:
Check to be sure the transmission fluid level is full.
Release the parking brake.
Start the engine.
Shift the transmission from Park to Drive.
Shift from Drive to Neutral.
Turn off the engine; leaving the key in the Accessory (I) Position
Make sure the radio and all accessories are turned off.
NOTICE: The steering system can be damaged if the steering wheel is locked. Always leave the key in the Accessory (I) Position to prevent damage to the steering system when towing behind another vehicle.
CAUTION: SEVERE AUTOMATIC TRANSMISSION DAMAGE WILL OCCUR IF THE CAR IS SHIFTED FROM REVERSE TO NEUTRAL AND THEN TOWED WITH THE DRIVE WHEELS ON THE GROUND.
We do recommend starting the engine and shifting the automatic transmission, if so equipped, through the gears approximately every 500 miles and shifting from Drive to Neutral before shutting off the engine.
For all manual transmissions automobiles, release the parking brake, shift the transmission to neutral, and turn the ignition key to the Accessory (I) Position to release the steering wheel lock. Make sure that the radio and all accessories are turned off.
Although experience has shown that the Honda/Acura transmission and powertrain are capable of being "motorhome towed", American Honda does not assume responsibility for any towing vehicle, lighting hookup, or other towing equipment or towing procedures. And responsibility for these items is assumed by the Owner/Operator.
UNQUOTE
