Can you believe this, Canadian BlackBook Value for a 1997.

[Jamolah]

I was talking to the Loan officer to see how much I can get approved for. So she asks me what car am I looking for, I mention it's a 1997 Acura NSX-T. She's say oh okay (has no idea what it is). She looks at her book and says wow $130,000 that's an expensive car, then asks if it's a 2 door coupe I say yes. She says, let me check the black book value to see if the loan amount corresponds to the car's current value. According to her black book value a 1997 NSX-T is worth $33,000 CAD.

Now, there's no way in hell I'm going find a 97 NSX-T for less than $42,000 CAD. She told me she can't approve me for anything older (that's why I'm looking at a 97). :frown:

She was hard to understand and had a heavy accent. But when she calls me back, I'm going to tell her I wasn't able to find a 97 for anywhere near blackbook. We'll see what happens after than.

But can you believe how low the black book is?!

 

[White92]

I'd find a different lending institution.

 

[NSXFRIEND]

Black book is used at wholesale auctions, it is not fair value for good condition NSX's most Nsxs in auctions are not in good condition with few exceptions.

 

[Tony Montoya]

The MSRP of a 97 NSX was 140k not 130k. It's now worth 40-55k depending on condition and mileage.

 

[Tony Montoya]

Black book means nothing on a thinly traded car like the NSX. Half the exchanges which determine price are for the same pile of junk over and over again or insurance write-offs that trade hands. The govt sales tax people have the more exact info but I doubt they are trading that info.

I am going by what the Acura dealers in Canada are asking for the car minus maybe 10% as they are flexible.
I don't think the dealers asking 62k for a 91 are getting any offers. The good dealers want to move the cars.

 

[tosugrad]

Pay cash or find something else you can pay cash for.

Financing a OLD depreciating asset is insane.

 

[warrenw]

Pay Cash,
or
use a line of credit

 

[NSXFRIEND]

Assuming your credit is sound You have 3 options

1. cash
2. amx
3. capital one followed by refinancing your local credit union.

The second option I tried most dealers get hit a fee for every 5K so that pretty much means financing. Cash ties down alot of funds and if you don't plan on owning a car for a long time financing is best IMO.

Best luck

 

[Jamolah]

Pay cash or find something else you can pay cash for.

Financing a OLD depreciating asset is insane.

Agreed it is insane. But I'm not rich, so this is the only option I have. Actually, I have another option, not to buy it. I guess I'm insane!


Thanks guys for all the great advice and options.

 

[Fatal Lightning]

I feel your pain, I'm on the west side.

 

[warren1205]

Black book is used at wholesale auctions, it is not fair value for good condition NSX's most Nsxs in auctions are not in good condition with few exceptions.

the lenders use the black book or kbb for LTV (loan to value)purposes. The year and miles also plays a role on how much they can advance and term. Your best route is, sign up with a credit union and open a account with 15 bucks. Good rates and you should be able to go as far as 125-135% ltv of retail value on either book.

 

[Cairo94507]

She was hard to understand and had a heavy accent.

Find someone who speaks english.

 

[Bram]

Only 13 1997 NSX's were sold in Canada, so not enough data to determine that price.

Of the 13 1997 NSX's sold in Canada, 10 are still with their original owners.


Bram

 

[cojones]

Only 13 1997 NSX's were sold in Canada, so not enough data to determine that price.

Of the 13 1997 NSX's sold in Canada, 10 are still with their original owners.

Don't forget currency arbitrage... works against you in this case

Back in 1997 the CAD/USD ratio was silly (loonie wasn't worth much back then CAD1.4 ~ USD1). Today its almost the other way around (CAD 1.01 = USD1), thanks to < long list of jokers/jokerettes >.

Unfortunately "buy high - sell low" was never a winning strategy :frown:

 

[Tony Montoya]

The market is in Canada. If the insurance company wants to make a big deal of US prices then I will counter with Euro prices.

The last 1997 Canadian NSX that I remember selling was an automatic with 100k km on it sold by Burrard Acura for an asking of 50k. It was a multi owner car.