Late model owners

comtec

comtec

Legendary Member
Joined
1 October 2006
Messages
2,738
Location
Memphis TN
Hi everyone,
I have not looked at many of the late model cars but there is one in my area for sale.:eek:

When i look at the cars for sale, from 2002-2005 the price range is $54k to $77k. This is where i am confused. I see some 2002's in the high $60k range and some 2003-2004 in the $59k range. If i look at just 2003 cars the price range is from $57k-$73k. The prices are all over the place, so i can't tell an average price. I can't believe there would be that much difference in the condition of the cars.

So my question is what do you think the price of a 2002-2003 car with 20k to 30k miles should be? The one close to me is a 2003 with 20k miles listed for around $68k which seems high.

Thanks
 
Mike -

Also, keep in mind that car is the special NSX-P edition.:biggrin:

Good luck.
 
Mike,
You may want to check out this car. It isn't too far from you and it looks like a nice car to me. The thread for this car is only up a couple from your thread.
Remember that he paid $56K in Las Vegas and had to haul it to St Louis.
Brad
Click to expand...
Thanks Brad,
Yes that looks like a nice car and i found another one same year and same color for about the same price. I also have found 2 here in tennessee one is only 15 miles away. Both are 2003's but both are over 10k more than the first 2. I can't see why they would be so far apart. I think tomorrow i am going to the local one and look at it but i wouldn't pay that price. Also I will call about the one you mentioned and the identical one that i found. i could go see one of them this weekend. :smile:


Mike -

Also, keep in mind that car is the special NSX-P edition.

Good luck.
Click to expand...
Dtrigg,
You guys crack me up. :biggrin: :biggrin:
 
OK, now i know why there is such a price difference with the local car. I found a ebay auction from june and the car was a buy it now of $58k. The local dealer has a price of $67,988. So they just jacked the price up by $10k. :eek:
 
comtec said:
Hi everyone,
I have not looked at many of the late model cars but there is one in my area for sale.:eek:

When i look at the cars for sale, from 2002-2005 the price range is $54k to $77k. This is where i am confused. I see some 2002's in the high $60k range and some 2003-2004 in the $59k range. If i look at just 2003 cars the price range is from $57k-$73k. The prices are all over the place, so i can't tell an average price. I can't believe there would be that much difference in the condition of the cars.

So my question is what do you think the price of a 2002-2003 car with 20k to 30k miles should be? The one close to me is a 2003 with 20k miles listed for around $68k which seems high.

Thanks
Click to expand...

I would expect to pay somewhere from 53-58 for a 02-03 with 20k mileage.
 
The price varies greatly and is always dependent on what the owner feels his car is worth. Since the NSX is no longer made and very few were sold, the seller decides where to list the car.

Another pricing phenomenon has to do with the 2001 and 2002 BMW M coupe. It MSRP'd for $46k. When I bought my 2002 M coupe in 2004, I paid $35k for it. I sold it for $35k 6 months later. Guess what? An S54 (engine code) M coupe still goes for $35k today. I saw one with 6k miles go for $42k. I'm not saying the NSX will be like those M coupes but the pricing varied greatly on those cars. KBB had those listed no where close to what they were selling for.


You can use the lower priced ones as ammunition against the higher priced ones if you so choose when negotiating. In the end, a fair price is what you feel good on paying. It may be higher to others and vice versa (lower to others).
Good luck on your search.





EDITED: Just did a quick search on roadfly and those M coupes are still holding as you can see here:
http://www.roadfly.com/bmw/classifieds/cars/listads.php?cat=225

S54s were 2001 and 2002 only
 
In general, the higher priced cars are being sold by dealers, and often Acura dealers.

An old buddy of mine sells golf clubs for a living and once when I was at his store I looked at the used club rack and saw what I thought to be a ridiculously high-priced used set on a rack and said to him "Tommy, who the hell is going to pay THAT for THOSE." His answer "Alan, I've been in sales all my life and one thing I've learned is there's a foot out there for every shoe"

The (very overpriced ?) dealer, paying maybe $300 a month in interest to "carry" the NSX is counting on the fact that somebody is going to walk in to his showroom and fall in love with the car, and he can even cut a couple of grand off the price, impress the customer and still make a killing.

Meanwhile, a "savvy" buyer like yourself, belonging to this site and all, will/should use the prices here, on eBay and elsewhere to determine what realistic selling prices are.

For example, there's an '05 LBB here on prime for $72.5K with only 4K miles (just reduced to $71K). You could almost certainly buy it for $70K and perhaps less; IMO, a very fair price.

And then, still here on prime, there's a guy asking $78K for a white one with 13K miles. I initially thought "NO SHOT" but he has gotten a few inquiries (but almost certainly no sale) Then there's on '05 on cars.com where the car dealer is asking, I believe, $85K :eek:

2 '03's, by a dealer here on prime for $66K and $63K - didn't notice the mileage.

3 more '04's (2 LBB & 1 silver) are here on prime asking around $68K. They are NOT selling.

Just a month ago an '03 Yellow was sold in NNJ for $57K by an Acura dealer that claimed he was dumping it at a very low price cause he didn't want to hold it over the Winter.

And just a week ago I purchased an '04 Imola Orange with 22K miles for $61,500 from California.

These prices represent, IMO, a fairly good baseline for your search. :wink:

Good luck
 
:smile: Congrats on your new ride nsx-guy, I know you have been looking for a Imola for a while. And thanks for the advice.
 
Dtrigg said:
Mike -

Also, keep in mind that car is the special NSX-P edition.:biggrin:

Good luck.
Click to expand...

Was it only the rare P edition in 2003 that had a 3.0 instead of a 3.2 motor?
 
Modernceo said:
I would expect to pay somewhere from 53-58 for a 02-03 with 20k mileage.
Click to expand...

I wouldn't... I searched for 5 months for 02+s (in Florida, where there should be an abundance) and every single one had issues. That was 1 year ago. I expected to pay 63-68 for an 02-03 with ~20k miles or less. Eventually just gave up and bought a new one. There is NO CHANCE the market has dropped 10k in 12 months, especially when the '05s I see listed are in the mid 70s.

If you get an 02+ with low miles for less than ~58-60, you're either buying an issues car or getting a heck of steal.


Edit: Beware of lease vehicles. The $799 lease deal started in the last few years (don't know when, mine's not "borrowed" hehe) so many/most of the newer ones weren't broken in correctly and cared for as a long term owner would. Treated like a kick-ass rental car; buy from a private owner if you can. Something to keep in mind - it matters...
 
Last edited:
I bought my 05' LBBP from a member here on Prime...(thanks Bobo) I paid $75k, which I felt was a little steep, but I was willing to pay it because I have longed for this piece of art for 15 years :biggrin: , and I wanted to make sure I got EXACTLY what I wanted. It was an 05' with 3700 miles (just bought it last month), never been tracked or raced, no major modifications except for ones that I would do myself (ie. exhaust), and basically brand new. New, MSRP was $90k. So was it overpriced? I guess that depends on the way you look at it. :wink:

Really I guess the price is going to relative to miles on the vehicle. Good luck with your search, be persistant, but patient at the same time. Get what you want, and don't settle for something that's close. In that price range, it's a good possibility that you will only make this purchase once in your life, so don't deviate from your expectations...
 
Oh yeah... Not sure what color you are looking for, but I know there's been an 03' Silverstone (I think?) available in the FL area for a while (6 mos?) for $70k. I know nothing about the vehicle other than the fact that it's avail in FL so I'm not advertising or pushing the vehicle, just know it's there. They seemed willing to deal when I first talked to them, but I decided I wanted the LBBP instead. So maybe you can get it for less...
 
ShiftyBob said:
I bought my 05' LBBP from a member here on Prime...(thanks Bobo) I paid $75k, which I felt was a little steep, but I was willing to pay it because I have longed for this piece of art for 15 years :biggrin: , and I wanted to make sure I got EXACTLY what I wanted. It was an 05' with 3700 miles (just bought it last month), never been tracked or raced, no major modifications except for ones that I would do myself (ie. exhaust), and basically brand new. New, MSRP was $90k. So was it overpriced? I guess that depends on the way you look at it. :wink:

Really I guess the price is going to relative to miles on the vehicle. Good luck with your search, be persistant, but patient at the same time. Get what you want, and don't settle for something that's close. In that price range, it's a good possibility that you will only make this purchase once in your life, so don't deviate from your expectations...
Click to expand...

Oh man...you have BoBo's NSX?? I should email you some great footage I have of it on the highbank in Daytona.

j/k :wink:

LBBP was my first choice originally - absolutely gorgeous - but then I decided I was tired of darker cars and wanted something a little less flashy (not red, but you know). Still an absolutely stunning color. I wanted tan interior. "Settled" with silverstone/onyx.
 
Ski_Banker said:
I wouldn't... I searched for 5 months for 02+s (in Florida, where there should be an abundance) and every single one had issues. That was 1 year ago. I expected to pay 63-68 for an 02-03 with ~20k miles or less. Eventually just gave up and bought a new one. There is NO CHANCE the market has dropped 10k in 12 months, especially when the '05s I see listed are in the mid 70s.

If you get an 02+ with low miles for less than ~58-60, you're either buying an issues car or getting a heck of steal.


Edit: Beware of lease vehicles. The $799 lease deal started in the last few years (don't know when, mine's not "borrowed" hehe) so many/most of the newer ones weren't broken in correctly and cared for as a long term owner would. Treated like a kick-ass rental car; buy from a private owner if you can. Something to keep in mind - it matters...
Click to expand...
This a search at autotrader of all the us ads for 2002-2005. There are 54 cars listed and this is what it shows for asking prices.

Advertised Price Range for this search
$84,999 Highest price
$49,999 Lowest price
$65,376 Average price

Of this there are about
8-2005
5-2004
29-2003
12-2002

If you change to just 2002-2003 there are 41 listed
Advertised Price Range for this search
$73,500 Highest price
$49,999 Lowest price
$62,675 Average price

And if i limit the 2002-2003 to $60k price there are 15 cars listed.
Advertised Price Range for this search
$60,000 Highest price
$49,999 Lowest price
$57,002 Average price


Since these are asking prices i guess they have changed in the past year.
 
comtec said:
This a search at autotrader of all the us ads for 2002-2005. There are 54 cars listed and this is what it shows for asking prices.


And if i limit the 2002-2003 to $60k price there are 15 cars listed.
Advertised Price Range for this search
$60,000 Highest price
$49,999 Lowest price
$57,002 Average price


Since these are asking prices i guess they have changed in the past year.
Click to expand...

As they should...:rolleyes: What's your point? If you limit the search to 2002-2003 with a max price of 49,999, you'll find one and the average price will be 49,999.

My point is - prices haven't dropped much since a year ago and the ones that make up the "long tail" in the fifties, I would be wary of. I wouldn't want to buy a used (leased) NSX. By virtue of it being a leased vehicle, you already know the previous owner didn't treat the car with the same level of care (engine break-in, for example) as someone that bought the car.
 
Ski_Banker said:
As they should...:rolleyes: What's your point? If you limit the search to 2002-2003 with a max price of 49,999, you'll find one and the average price will be 49,999.

My point is - prices haven't dropped much since a year ago and the ones that make up the "long tail" in the fifties, I would be wary of. I wouldn't want to buy a used (leased) NSX. By virtue of it being a leased vehicle, you already know the previous owner didn't treat the car with the same level of care (engine break-in, for example) as someone that bought the car.
Click to expand...
You can't compare the average price of one car to the average price of 41. That is every listed 2002-2003 car with a average of $62,675. My point is that a 2002-2003 car in the 50's doesn't mean there has to be something wrong with it especially since some around 58-60k are acura certified.
 
comtec said:
You can't compare the average price of one car to the average price of 41. That is every listed 2002-2003 car with a average of $62,675. My point is that a 2002-2003 car in the 50's doesn't mean there has to be something wrong with it especially since some around 58-60k are acura certified.
Click to expand...

Ok. You win. You are right and I am wrong.

Since you started posting in early October, you've had a month or two to find your NSX. Any luck? Still waiting for the garage queen 02 for $49,999? Lol.
 
Ski_Banker said:
I wouldn't want to buy a used (leased) NSX. By virtue of it being a leased vehicle, you already know the previous owner didn't treat the car with the same level of care (engine break-in, for example) as someone that bought the car.
Click to expand...

I disagree...:wink: You can't judge the care of a vehicle based on the route used to obtain it. The one I bought was a lease. 1 owner, 3600 miles. According to many people on this site, he took VERY good care of this car, and though I don't know the nature of his break-in period, there are many people on here that can vouch for his modest driving habits. It has no flaws except for a small chip in the hood from a rock. Otherwise, it is basically a brand new car.

What I'm getting at is that people purchase in different ways for different reasons. Maybe he bought it as a lease because it was just a cheaper way to go at the time, and planned on switching over to a purchase later, or planned on buying it at the end of the lease. Now, mind you, I would NEVER buy a vehicle that was a lease to a rental car company :eek: , but that goes without saying.

Break-in period is over rated anyway! :tongue:
 
Ski_Banker said:
Ok. You win. You are right and I am wrong.

Since you started posting in early October, you've had a month or two to find your NSX. Any luck? Still waiting for the garage queen 02 for $49,999? Lol.
Click to expand...
I wasn't trying to win anything :confused:. I actually started looking at the end of august but didn't join untill october. I don't remember looking for a 02 for $49,999, i may have asked a question about one. I tried to purchase a 97 for $46k and I thought i had a 1998 for $49k untill yesterday. I have been looking at the 2002 and up very little thats why i was asking. :smile:
 
Comtec,

I think Skibanker is right. Prices haven't dropped much. I started seriously looking at 02+ a couple months ago, and I was once at the point you are at. I thought I could find a nice 02 with 20K for less than 60K because I saw the range of prices you see on autotrader.

What I found was that most of the lower priced cars have stories, higher miles, or are in below average condition. Based on your experience with the 97 you passed on, I believe you are looking for an A/A+ car. In that case, expect to pay 60+ easy.

Of course, you may get lucky and find someone who doesn't know the market value for a mint condition 02+ or prices could drop over the next few months, but I doubt it. There are just too few nice 02+ cars out there.

At the end of the day, I decided to pay up instead of waiting months and maybe even years for the perfect bargain to come along.

After having the car for 1 week, I can tell you I only wish I had bought the car earlier! Good luck in your search.
 
poncekim said:
Comtec,

I think Skibanker is right. Prices haven't dropped much. I started seriously looking at 02+ a couple months ago, and I was once at the point you are at. I thought I could find a nice 02 with 20K for less than 60K because I saw the range of prices you see on autotrader.

What I found was that most of the lower priced cars have stories, higher miles, or are in below average condition. Based on your experience with the 97 you passed on, I believe you are looking for an A/A+ car. In that case, expect to pay 60+ easy.

Of course, you may get lucky and find someone who doesn't know the market value for a mint condition 02+ or prices could drop over the next few months, but I doubt it. There are just too few nice 02+ cars out there.

At the end of the day, I decided to pay up instead of waiting months and maybe even years for the perfect bargain to come along.

After having the car for 1 week, I can tell you I only wish I had bought the car earlier! Good luck in your search.
Click to expand...
Thanks, I am really looking for a 1997-2001 (yes garage queen) but you know how sometimes your mind strays (2002+). Have you posted any pics of that new ride yet. :smile:
 
poncekim said:
I decided to pay up instead of waiting months and maybe even years for the perfect bargain to come along.

After having the car for 1 week, I can tell you I only wish I had bought the car earlier! Good luck in your search.
Click to expand...

Exactly. I decided I would find exactly what I wanted first, then worry about the price. I know some people have to fall within a budget, but if your looking at 02+ expect to pay a pretty penny for exactly what you want.
 

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