cost of ownership, the real deal pls (yearly cost, depreciation etc)

[PassingBy]

Say I buy a '96 NSX that has 30-40K miles on it.


1. what should I expect to pay annually in terms of maintenence? (tires, oil, other issues?)

2. how much will this car depreciate per year? how much of the depreciation will be effected as the mileage increases?

I realize the above questions are probably hard to answer, but has someone ever come up with a formula that works most of the time?

What I want to know is, if I'm buying this car, what will it be worth say 2 years down the road if I decide to sell it? How much is this car really costing me in the long run and if I drive it too much how much will that effect my potential future sale?

thanks for the insights!

 

[dyee]

Here's what my State Farm Insurance guy says regarding operating the NSX:

It's $0.83 per mile. Now that's counting all maintainance and stuff over the life of ownership. So oil changes,brakes, plugs, timing belt, water pump, clutch, tires, insurance, gas, and so forth works out to that amount per mile of operation. If this ( :biggrin: :smile: ) is priceless... then it's not so bad!!!

I asked if that was high and he laughed at me.

Danny.

 

[nsxtasy]

1. what should I expect to pay annually in terms of maintenence? (tires, oil, other issues?)

It depends on how many miles you drive. You can look up the maintenance schedule and costs in the FAQ; remember that maintenance is specified by mileage or time, whichever comes first.

Tires, it depends. If you're using OEM tires, look up their cost on the Tire Rack website and assume the fronts will last 15K miles and the rears will last half that. Don't forget to add shipping and $10-20 per tire for mounting and balancing.

2. how much will this car depreciate per year?

Not much. Depreciation on the '96 has flattened out. If you assume $1K per year, you are probably overestimating.

how much of the depreciation will be effected as the mileage increases?

If you assume ten cents per mile, you are probably overestimating.

 

[PassingBy]

nsxtasy,

thanks for the reply. any comments on what dyee's insurance agent said i.e 0.83 per mile??

So if I drive 12K miles in a year I just blew 10K in depreciation?? that doesn't make sense dyee! Say it ain't so! hehe

 

[53heloFE]

nsxtasy,
So if I drive 12K miles in a year I just blew 10K in depreciation?? that doesn't make sense dyee! Say it ain't so! hehe

I believe that comes out to be $1200 and in my opinion if you purchase a car drive it and enjoy it, don't go each mile worrying about how much you just depreciated the thing.

I am new to these cars but they seem to hold their value fairly well. THe Jaguar that I will be selling has lost half its valuein the three years I have owned it. Also it books for half what the NSX I am purchasing books for, and the NSX is older.

 

[nsxsupra]

nsxtasy,
So if I drive 12K miles in a year I just blew 10K in depreciation??

no chance in hell, use some logic, not even close, otherwise I would own more than just 1 :biggrin:

There are NSX with 150k miles and still sell for $25k, I have never seen another used Japanese car that depreciate as slow as NSX.

If you get a nice condition NSX with 36k miles and put on 24k miles over next 2 years, it will still only have 60k miles. You many even be able get as high as what you originally paid if you do decide to sell.

 

[nsxsupra]

nsxtasy,
So if I drive 12K miles in a year I just blew 10K in depreciation??

no chance in hell, use some logic, not even close, otherwise I would own more than just 1 :biggrin:

There are NSX with 150k miles and still sell for $25k, I have never seen another used Japanese car that depreciate as slow as NSX.

If you get a nice condition NSX with 36k miles and put on 24k miles over next 2 years, it will still only have 60k miles. You many even be able get as high as what you originally paid if you do decide to sell.

BTW, if you are worried about depreciation, NSX is definitely not for you. The car is meant to be driven.

 

[Jin1976]

If someone wants to buy from me, I would sell mine the same amount I spent on it. Take it or leave it. That's how much I love my NSX.

 

[ediddynsx]

the car is a collection item now since this is the last year of production and given the fact there aren't that many around or sold in the US is a big factor too. I paid a lot for my 91 but it was clean with low miles and love it! :biggrin:

 

[NsXMas]

These questions are asked very frequently.

If you must ask, then I advise you never buy a car. The NSX is about as good as it gets to both questions.

 

[bjmills]

Here's what my State Farm Insurance guy says regarding operating the NSX:

It's $0.83 per mile.

any comments on what dyee's insurance agent said i.e 0.83 per mile??

So if I drive 12K miles in a year I just blew 10K in depreciation?? that doesn't make sense dyee! Say it ain't so! hehe

Dyee was talking about operating cost per mile, not depreciation per mile.

 

[nsxtasy]

Some costs (insurance, registration) are mostly fixed and a function of time, regardless of mileage. Other costs (gas, tires) depend mostly on how many miles you drive. Still others (maintenance, depreciation) depend on a combination of the two. You can't just quote a figure of X cents per mile accurately without taking both mileage and time into account.

My '91 has depreciated by approximately zero dollars in the past five years.

 

[dyee]

Hey, don't kill the messenger. That's what he showed me on his computer screen when I sat down in his office..... and he's a personal friend of mine. Insurance companies have data for things we never thought of as it relates to $$$$ to insure a car. Stats on cost of ANY repair due to accidents to the car,time of the day a person drives, age groups, gender, race, miles, the city you drive, where you work, the depreciation of the car per year & kids all go into the calculation. I don't know what else goes into that 83 cents/mile but it has to be real merited data. Surely insurance companies share data as to accidents or thefts be it an average number of X's or specific individual cases.

1)Number of X's sold
2) repair schedule
3) estimates on mileage driven
4) gas cost
5) typical upgrades (rims, exhaust, etc)
6) insurance
Add it all up for all X's in circulation (or not) and you'll see if that's reasonable or not.

 

[nsxtasy]

Add it all up for all X's in circulation (or not) and you'll see if that's reasonable or not.

Oh, you're talking about the RSX? Sure, for the RSX, figures are probably more accurate, because they tend to be driven a lot more miles, on average, than the NSX, and the mileage on the RSX doesn't vary as much.

 

[comquat1]

My '91 has depreciated by approximately zero dollars in the past five years.

That's cuz you never drive it anywhere but track events.... :tongue:

But that is exactly why I purchased a 91. Basically found one that more or less was considered fully depreciated and am driving it without a care in the world because I'm not sweating depreciation.

 

[Accordingly]

You'd be hard pressed to find any post-1980 car that depreciates less than the NSX. Newer ones depreciate like any other newer car of course, straight down like a rock.