Can I afford an NSX? Should I purchase one?

[NsXMas]

Just browsing this evening and found this --> http://www.autotrader.com/fyc/vdp.jsp?car_id=209483232&dealer_id=58474681

I'm sure something is probably amiss (salvage title or something) but figured I'd post it on here in case anyone wanted to check it out. I need to sell my car and raise more funds before I make a purchase or I'd call on it myself.

Something is wrong with the car. The top has been painted poorly. The previous owner(s) painted the black top, but not all the way around, so it looks weird.

That could be a clue as to the general care of the car - ie the previous owner(s) didn't spend enough money / time on the car to properly modify / maintain the car.

 

[jimmycinla]

I would say you're looking for a steal if you intend to find a good example under $25k - the cars under $25k usually have issues, may have secrets, and are probably more headache than value... for $25k you're possibly looking at deferred maintiance (eg timing belt), but occasionally you could get lucky, and find a non-snap ring (or repaired) car ready to go... still, I would say the 'real' price for a clean, maintained, ready to drive for a while, early car is approx $30k...

If you're not prepared to spend between $25k to $30k I would suggest waiting until you are ready to spend this level of money, perhaps poke around the market in the meantime to ensure this is the direction you want to go in, but don't rush into a bad car just because the numbers seem good.

Good example '91 78k miles, maint done for 26.5k >> HERE

 

[Joey Link]

Good example '91 78k miles, maint done for 26.5k >> HERE

It's too bad I'm not ready to purchase right now, I'd definitely take a look at that one.

 

[Joey Link]

I'm very happy, insurance on a '92 NSX is going to be around $125/mo. which is $35 cheaper than the 540i. I'm really going to have to use my resources to gather up enough for the purchase price but I think the TCO is going to be about even, if not a bit less considering all those expensive BMW repairs.

 

[Joey Link]

Doing a little math tonight I've figured it out. If I get $22k to put down and finance $8k I'll have $30k to spend and my monthly payment will be $162 :biggrin:

 

[darknezz_ghost]

for the low 20k's you'll probably end up with a 91 or 92 with over 100k miles and not pampered to well.. maybe a 6-7 out of ten exterior to a 7 interior..

i always like the 540i but couldn't afford one so i sticked with the M3 instead. nice car by the way.

 

[RSO 34]

I offer a simpler and more direct response to your question. It is the same answer I give to anyone asking "if they can afford an NSX, house, major purchase, etc......"

If you have to ask, then you can't afford it.

I don't say that to sound elitist but every time someone comes on here asking such a question it is usually a result of the fact that the cars are getting older and the potential buyers are getting younger. You should be in the best position to analyze your own finances and coming onto a forum such as this to ask our opinions in a vacuum could result in poor financial advice.

Good luck getting your dream ride but a depreciating asset, even an NSX, is not a good purchase if you even have to ask us in the first instance.

 

[Joey Link]

I offer a simpler and more direct response to your question. It is the same answer I give to anyone asking "if they can afford an NSX, house, major purchase, etc......"

If you have to ask, then you can't afford it.

I don't say that to sound elitist but every time someone comes on here asking such a question it is usually a result of the fact that the cars are getting older and the potential buyers are getting younger. You should be in the best position to analyze your own finances and coming onto a forum such as this to ask our opinions in a vacuum could result in poor financial advice.

Good luck getting your dream ride but a depreciating asset, even an NSX, is not a good purchase if you even have to ask us in the first instance.

The reason I had to ask is because I needed to establish what it cost for an NSX in decent condition. I'm not posting how much I make a month along with my bills and asking for input, I needed more information on the actual cars.

 

[comtec]

The reason I had to ask is because I needed to establish what it cost for an NSX in decent condition. I'm not posting how much I make a month along with my bills and asking for input, I needed more information on the actual cars.

Hi Joey,
Did you checkout the FAQ?

http://www.nsxprime.com/FAQ/BuySell/pricing.htm

 

[Joey Link]

Not before all my questions were answered here, lol

 

[jimmycinla]

Doing a little math tonight I've figured it out. If I get $22k to put down and finance $8k I'll have $30k to spend and my monthly payment will be $162 :biggrin:

Do it. I would.
Be patient and shop for the right NSX. Find a pretty well cared for and maintenance done NSX(like the black one above) if in 6 months, a year or two you think you made the wrong decision you will get your money back. The 5 series will continue to depreciate.
BTW - My patience was 13 months, but worth it as I found some real POS's out there.

-j-

 

[Joey Link]

Do it. I would.
Be patient and shop for the right NSX. Find a pretty well cared for and maintenance done NSX(like the black one above) if in 6 months, a year or two you think you made the wrong decision you will get your money back. The 5 series will continue to depreciate.
BTW - My patience was 13 months, but worth it as I found some real POS's out there.

-j-

Thanks for the advice! I'm 99% sure this is what I want to do. I totally agree about the depreciation of the 5 series. It'll be nice to own a car that doesn't take as big of hit in that department. How many NSX's did you look at? 13 months is a LONG time, and you're in California! I'm pretty certain I'm going to have to travel to get the car I want but that's alright, I love road trips. When you say POS's, how bad were they and what were their owners asking for them? How did you determine they were POS's?

 

[d1 guy]

I would stay away from cars with bad titles also.

Hmmm unless you buy from me :biggrin: My cars always put smiles on peoples faces....plus I keep up with their history. Most people dont mind buying previous salvage title cars from me.

 

[Joey Link]

A salvage title car would have to be selling at most 1/5th of it's value and under $5k for me to touch it. I wouldn't want to deal with the hassle of trying to find a cash buyer when I was ready to let it go.

 

[jimmycinla]

Thanks for the advice! I'm 99% sure this is what I want to do. I totally agree about the depreciation of the 5 series. It'll be nice to own a car that doesn't take as big of hit in that department. How many NSX's did you look at? 13 months is a LONG time, and you're in California! I'm pretty certain I'm going to have to travel to get the car I want but that's alright, I love road trips. When you say POS's, how bad were they and what were their owners asking for them? How did you determine they were POS's?

My choices were a little slim as I only looked at black NSX's. I actually passed on the first one, good condition at 25k over $500 bucks with the guy and the car was 15 mins from my house. Regreted that one for 13 months, lol.
You can see and feel when a car has been taken care of, but nothing beats a PPI, especially when negotiating.
I ended up finding one one night the instant it went online for sale and told the guy I'd meet him 3.5 hours away the next morning. I rented a car trailer and took off. He said he had 45 calls before I got there.
When the good ones hit you have to be ready to drop everything and go.

-j-