boostCreep, I think I'm in a somewhat similar situation as you (even from MA). I'm a little older at 23. I've been working full time for about a year now. I've been looking into buying a new car for the past 6 months or so. I've looked at rx7s, supras, evo, sti, s2000 and the nsx. I came to the same conclusion with the rx7... awesome car but the suspect reliability scared me away. Supras are nice, but expensive and a little "played out" now. Evo and STI are great cars, but pretty ugly imo. So I eventually decided on the NSX based on reliability, performance and price.
It was a tough decision for me due to the large amount of money. I realize it's not the best decision financially for someone our age, but I figure as long as you're not over exerting your finances you should live a little while you're young. I thought long and hard about saving money for a down payment on a house instead of the NSX but a couple things made me decide against the investment in housing. For one, houses around Boston are so ridiculously expensive now. It worries me how much they've gone up in value recently. Mortgage rates are great right now, but I wonder if houses will hold their current values. I know property has rarely ever gone down in value, even after factoring in inflation, but has housing ever increased in value as quickly as it has the past couple years? Memories of the stock market's extreme rise and fall of 2000 scare me. The economy is pretty crap right now, jobless rates are the highest they've been in a while.... everyone is buying houses now to take advantage of the low mortgage rates... what if a lot of these people buying houses are over exerting themselves in order to take advantage of these rates?... what if these people start losing their jobs? There could be a lot of foreclosures on houses. This could hurt property prices. This is just my opinion, I'm no where close to an expert on property investment. Also, I'm young, I want to move around. I don't plan on settling in one place for a while so I don't really want to be tied down with owning a house.
To sum it up, I ended up purchasing a NSX about a week ago. I don't have the car yet, but I’ll let you know how I feel about the purchase in a week or 2 after I’ve had the car for a bit =) Right now I'm pretty happy with the decision. I'm about a step 14-15 in MA and I was quoted about $2000 a year for insurance. I tried to get financing through Peoplefirst.com but I was turned down. This wasn't due to bad credit. It was due to lack of credit history. I have perfect credit for what little credit history I have. I'm guessing you might face the same problem. I ended up financing through a local credit union. They wouldn't offer me money for the full price of the car, but I had money save up that I was able to pay the difference with. Monthly payment plus insurance takes up about 1/5 of my monthly post tax income so I don't really feel like I’m stretching my money to thin. My (very long winded) advice to you is if the nsx car payment + insurance + housing + food is taking up 100% of your income then purchasing the car probably isn't a good idea. U'll sleep better at night knowing you're not on the verge of financial destruction. Divide up your monthly income... of what's left over after housing, food and necessities put a little into a 401k, save some so that u'll be able to make a down payment on a house in a couple years (down payments for first time buyers are often pretty low) and if you have money left over after that, get the car. Make sure to have some money left over to take all the cute girls u meet out on dates
Pretty lame is u own a NSX and have to go to Wendy's on every date. Good luck.