My NSX buying experience, ONGOING...Update.

[johnny010]

THE NSX fever/buying experience is still ongoing.

On March 8th, I got a wild hair and started looking at cars on EBAY, and again, ended up on the Acura NSX page. I figured this was a sign since I tried to get my girlfriend to buy one, but she passed and went for a new C6 convertible. By March 10th, I had discovered all sorts of things about this car, and somehow, I went from not being in the car market, with two paid off vehicles and no debt, to all of a sudden realizing I was about to drop a lot of money on a significantly older vehicle. My family and friends all responded, much like I would suspect yours did, and said, "Why not buy a new BMW 3 series?", or "Isn't that a Corvette?", or.....and the list goes on. I was irked to say the least.

After almost doing a deal on the 1991 model, I found out about the snap ring issues. WOW, that could have been a big mistake. Glad I read up on it before making my decision. Now don't get me wrong, there are hundreds of 1991's and 1992's that have had no problems, so lets not start a flame over this, it's just not a road I was willing to take.

I then do a google seach and find an ebiz site that looks like a scam. The site is cheaply done, and I didn't think I could trust the seller before I even knew him because of the site. Then I did a little research, and the owner has sold over 350 cars on EBAY, all with 100% feedback. Turns out he is also BBB certified. My mind now at ease, I take more interest in what I assume is my new car. More on this in a bit.

I call the gentleman that owns the site, and the 1993 NSX with 25,900 miles on it. He promptly calls me back and we talk business. I am sure he could tell I was younger, 26 in fact, and don't think he took me serious at first. Then I explained that I was pre-approved for the loan and I could tell his ears perked up. He explained to me that even he himself did not have the car yet, he found it at a dealer in NJ and requested they do the 145 point Acura inspection and fax it to him. He faxed me the inspection, and I found only three things that need fixing with the car, 1) left front wheel is slightly bent, 2) rear glass stuts need replacement, 3) rear trunk struts need replacement. Other than that the car was perfect. I note the phone number on the inspection report, and call the dealer in NJ. I get the service manager on the phone who asked for the vin, so I obliged, and he goes, "Oh, the NSX!". That sounded good to me. He goes on to tell me all about how cool this car is, the upgrades the owner has put on it etc, and how everyone wanted the owner to hold on to it but he stated if he was going to keep getting into trouble, he was just going to buy a 911 turbo.

I get off the phone with the dealer feeling confident, the day is now Tuesday, March 14th. I think it over, contact Capitol One, and have now made up my mind, even though everyone I know has advised me at this point to buy a newer car. They just didn't get it, I wasn't even in the market for a vehicle. The whole reason this car grabs me is because you can pull up to 100 lights here in town and NEVER seen another NSX. I don't want to blend in with the crowd, I want to stand out respectfully. Buying a BMW or Mercedes is as common as owning a Hyundai these days.

Okay, I call the gentleman that I have decided to buy the car from, he tells me we can work out a deal, but only a little as he feels his prices are already deflated. I get him to drop $1000 off the top, pointing out the car needs $600 in repairs. Since then, I have found I can get the wheel remanufactured for $100, and the struts for about $250, so this swings in my favor, albiet unintentionally. He explaines if I can get him the money right away, we have a deal. I overnight the money to him, send a wire transfer for him to hold the car, and it looked like we had a deal. Then, silence!

I call that Friday, March 17th to see if he has gotten MY car yet, seeing how I have paid him in full, and he has confirmed he received payment IN FULL. He states that these things just take time, no the car was not there yet, and he expected it on Saturday now. I wait and call on Sunday, March 19th, and he now sounds irritated. I am told that he isn't worried the car hasn't gotten there, although I was because it was only going from NJ to IL, but tell him if he isn't worried, neither am I. I let him know that I will wait for his call, and request he let me know as soon as the car gets there.

GOOGLE search. I pull up google as I am sitting here at the house thinking about the car, and type in 1993 Acura NSX, and wouldn't you know the power of Google. I click an AD and actually find my car for sale by the original owner who never took the AD off the internet.

Well, I have tons of questions so I call, turns out he is the president of a corporation, but the secretary says she will have him contact me. My phone rings ten minutes later, and it is the owner. He goes on to tell me that the car has had just about everything done to it he saw fit, less a supercharger. He explaines he never had the car above 90 MPH, and he acutally sounded believable. He explained it was his 'Country Club car'. Anyway, I ask like one of the ten important questions I have for him, and the answer was, "Yes, I did replace the timing belt, and no the clutch is still the original, why would I change it, it worked perfect." I get off the phone at ease. He told me the car was immaculate and he hoped I would enjoy it as much as he did. Then the BOMB comes.....he tells me he bought a new C6 convertible. EEEGH. My girlfriend is going to love this. And she did.

Waiting!!! Still nothing from the guy I bought the car from.

After work, I go home to see my folks and on the way into town, the population sign reads 608. TOO CRAZY, the night before I had done a search and found that there were 608 NSX's produced in 1993. Guess that was my good luck omen. My mind relaxes. So I wait and wait, but still hear nothing.

Finally, I wake up early this morning, Friday March 24th, and call, leaving the dealer a message that my lien holder has notified me my account is setup online, and ready for my frist payment in 20 DAYS! Now hold on just a minute, I have to make a payment on a car I have only seen one picture of (my fault), and don't even know where it is. My message is friendly, but direct, and request a call back with real information. Sure enough, 10 minutes later I get a call informing me my car is there, IT DRIVES GREAT (WHAT?), and he is just waiting on the shippers.

He gives me the website to the shippers, and tells me to call them and put some pressure on them. He explains there is no more room on the title to put his name so he has to send off for it to get it transfered into his name then into my name, then to the lien holder. I could care less, just get me the car. He tells me the car also came with the original size wheels and tires. He tells me that after getting the car, this is one of the best ones he has ever sold, and the performance modifications really help the car. He tells me that had he not sold it to me before arriving he would be keeping this one for himself for a while.

SO, I call the shippers, get the right person on the phone who says, "Oh yeah, the NSX going to Houston...., NO, I don't have a pickup date, hopefully sometime next week." I ask if he can give me a better date since I will likely need to leave work to meet the shipper at the drop location. He explains they will call me with in 24 hours of dropping the car off. He can't give me a ship or receive date, but they will call me. I ask if he has my number and he says no, nothing is setup in his computer, but he has four cars that need to come to Houston, so he will get that information from the shipper and they will call.

This is where I stand. Crazy ride.

This forum has been awesome.

Here is what I have found to be essential:

Changing dash lights
and here
and here for gel sheets

Subwoofer in the footwell

Fix a bent wheel for $99.

Install Aftermarket speakers
and how to remove your door panels

Aspirator Fan Fix

Remote Start wiring, way above my head

Window fix, where to buy from
and what to do with them once in hand

Replacing Struts in trunk and window, link to FAQ section

Annoying antenna fix for your stock stereo system

Good all around NSX website

Chart showing production numbers in the USA for the NSX 1991 to 1998

My understanding of the best NSX car wax based off of this article

Thanks to everyone for all the information. I can't really say I am part of the community until my car gets here, but it has already been a pleasure.

~ John-Michael

 

[nsxtasy]

After almost doing a deal on the 1991 model, I found out about the snap ring issues. WOW, that could have been a big mistake.

80 percent of the 1991 cars are unaffected by the snap ring problem. You have to check the transmission number to be sure, but if the VIN is less than about MT002500, it's highly unlikely that the car's transmission is in the snap ring range.

 

[johnny010]

Good info. It was the 20% that concerned me. The guy selling the 1991 wasn't able to find the tranny number even though I gave him details on where to find it. Given that it was going to be a sight unseen purchase, I stayed away.

 

[JadeFox]

Sounds like you went through quite a ride. Congrats on the purchase and I hope everything works out for you.

 

[Wick]

You are a very trusting individual...I hope all works out as you expect?

I get nervous about a $200 long distance buying transaction with a stranger... and have never had a bad expereince (knock on wood!). I'd be a basket case in your scenerio.

 

[Mariner]

huh?

You have to fax the title to Capital One when you make the transaction... not to mention a dozen other steps that would have been impossible to complete given your scenario. How are you already making payments to them when the title isn't even in the name of the person you paid?

 

[Sockeye]

Wack

 

[johnny010]

huh?

You have to fax the title to Capital One when you make the transaction... not to mention a dozen other steps that would have been impossible to complete given your scenario. How are you already making payments to them when the title isn't even in the name of the person you paid?

Capitol One has not asked me to fax any title to them. I have a copy of the title which is in the name of the previous owner's corporation. He provided that to me to show that he was buying it from the dealer. What steps would have been impossible to complete? I got online, requested a loan, was approved for the loan, a blank check was over-nighted to me. I then over-nighted the check to him, while also wiring $1500 to him to hold the car until he got the funds. In the meantime, the car was being shipped to him from the dealer in New Jersey.

Since then, one week, he confirmed on Friday that he has the car and will ship out to me once the shippers get there. I called the shippers and they were aware of the car but did not have a ship date to Houston yet. He expected sometime this week.

The seller at this small car dealer explained that the title will have to be put into his name and then mine (I think) before forwarding to me. I had this happen once before, the title came to me and I had to forward to my lien holder, which at the time was WellsFargo.

I think the delay may have been that the Acura dealer that bought the car from the guy that owns the Corporation had not put the title in their name yet before doing the 'over the phone' deal with the guy that I bough the car from. ????

Beats the heck out of me, as long as I get the car, I'll be happy.

--------
Edited

Make payments to whom? Capitol One? No, my first payment is due in about 20 days. I wrote the blank check to the small time dealer in NJ, he cahsed it, once he cashed it, Capitol One could tell I used the check so they setup my payment due dates online, and in the email requested that I setup my bank account information for EFT pmts, the option I selected for my recurring payments.

The entire loan process was pretty much done over the internet, with the exception of one phone call. That may be the reason they never required a copy of the title?

 

[annointed]

Wow, amazing. Check this out, I think that dealer that sold this car to the guy you bought it from is right down the street from me (wow, too many pronouns, lol).

Ironically, yesterday at my bank, I ran into an old aquaintence who works at said dealer, and told him I'd just picked up an NSX to add to my fleet. He proceeded to tell me about what I believe to be the car that you're referring to, the 911 turbo comment of its previous owner, etc. I kicked myself, as he told me it sold for $22 or $23k (apparently to the fellow you purchased the car from). I kept telling him that there's no way THAT car sold for THAT price, and that he is either mistaken, or that was the deal of the century. He was adament that it was a trade in, and it was just sold a few days earlier for that price, and that I apparently missed out on a good local deal on an NSX, bummer for me.

Funny what a small world it is. I was thinking if it is still in the area, I can have a look at it for you, but it sounds like the car is nearly in your hands at this point.

Mark

 

[johnny010]

Well, I can't belive it sold to the dealer for that amount either. I mean, really.

The original owner had a listing on google to sell the car for $37,500. Then, less than 200 miles later he traded it at the Acura dealer for $22,000???? Sounds doubtful to me. I guess possible, but hmmm???? When I called the original owner from the Google advertisement, he told me he bought a C6 Convertible Vette brand new ....don't think that Open Road Acura sells new Corvettes.......I was under the impression Acura just bought the car outright.


I think I still got a good deal. You know dealers though, they can have you walking out of a place giving you half what your car is worth and make you smile about it.

 

[annointed]

Did he mention where in NJ the car was from (ie, southern NJ, in Atlantic City area)? Not that it matters at this point, but its a pretty amazing coincidence if this is the car I was just found out about yesterday. My friend thought it was a '94, but he was sketchy on all aspects except the selling price. I really gave him a hard time about the 22-23k price, as it just sounded too good to be true, but he insisted that he was sure it sold for that amount, which clearly sounds too good to be true

At any rate, it sounds like a great, low-milage specimen of an NSX, and it probably would have been mine had I known about it a week or two sooner, lol

Mark

 

[johnny010]

Open Road Acura of Wayne, NJ.

Steve is the service manager there.

---------
Edit:
Pulled my paperwork, there are two Open Road Acura's in NJ, the one the service was checked at is in EAST BRUNSWICK.

 

[annointed]

Nope, different car, then. Talk about foot-in-mouth:redface: lol.

At any rate, it sounds like you got a first rate NSX, and that there is apparently more than one good deal in NJ on an NSX

Best of luck to you, and I hope you get the car quickly, and enjoy it to its fullest.

 

[Mariner]

Did you do a personal loan or an auto loan?

 

[johnny010]

Auto loan

"How it works
We’ll personalize your Blank Check® with your name and address at the top. All you need to do is make it payable to the seller or lender up to your approved maximum amount, sign it and you’re done (you don’t have to use the whole amount; it’s there only if you need it). Plus, there’s no pressure or obligation–you will not have a loan with us until you actually use your Blank Check®.

Gain the negotiating advantage
Arriving at the dealership with a Blank Check® in your wallet frees you from the worries of dealership financing and empowers you to focus on getting the lowest price for your car. Capital One pays the check within 24 hours. It’s as good as cash, giving you the upper hand during price negotiations.

Save time and money
With your loan already taken care of, you’ll spend time and energy at the dealership looking at cars, not financing terms. And if you’re refinancing or buying out your lease, the Blank Check® can help you quickly pay off an existing loan and save on monthly payments.

Feel secure with a fixed rate
Upon approval, your rate is locked in for 45 days, giving you more time to shop for the right vehicle or get the latest payoff quote from your existing lender. And once you’ve used your check, your rate stays the same for the entire life of your loan."

Source
---------
See, above it gives an example that you can show up at the dealership and make it payable for the amount, up to what you are authorized to spend. You do not have to have Capitol One's permission, or a copy of the title or anything. When filling out their online application, you don't even had to put the year/ make/ model of vehicle you want to buy. You just have to put in how much money you want to borrow, your personal information and then it goes off for the approval process.

In my case, the check had to be made out to a used car dealer to get the % rate I was quoted (which was lower than Wells Fargo, Bank of America, and a credit union). And just like I stated in my previous post, you do not have a loan with Capitol One until the check is cashed. It was truly the easiest financing I have ever gotten in my life.

 

[Mariner]

I used the Capital One Blank Check system to buy my NSX in September of 2004. You can get approved for the check/loan without giving any information about the car, yes.

But in order for the seller to be able to cash the check, You need to have notarized and faxed them a number of documents, including the title that lists them as the lienholder. They want to be able to repo the car if you don't make your payments, they aren't going to give you money to buy a car without being listed as the lienholder.


Your story sounds like you applied and were approved for a blank check, but there is no way you used it to buy a vehicle in the manner you described.

 

[johnny010]

You're starting to make me paranoid. The seller has confirmed he has deposited the check, the shipping company has said they are aware of my car, no one at Capital One has contact me, my online account has been setup by Capital One, their FAQ states that the account will not be setup UNTIL I use the check, there is nothing in the terms of agreement that states I need to fax them a copy of the title etc........

I am trying to call them now. Maybe the rules/regulations differ. from state to state.??

Can anyone else that has used Capital One confirm if this is the process you went through?

 

[johnny010]

GREAT, the Captial One Auto Loan office is currently closed. I did however check my account on the phone system and it does tell me the amount due and my due date.

I am now headed to the office to get my loan packet from them to see if I missed anything.

You did write that you purchased your NSX in 2004. It is now a year and a half later, maybe things changed.

The seller did mention that transferring the title over was going to take him two weeks, but he never mentioned anything about Capital One, or any hangups.

 

[johnny010]

Okay, whew, I just called the seller's personal cell phone.

Here is what he had to say: "The person on the forum is only partially right. I am a Capital One certified used dealer in their network. There are two types of Capital One checks. One is a green check and one is a blue check. A green check approved customer has to have the dealer fax/notarize etc. everything the guy on the forum is talking about. A blue check customer does not have to provide that information to the bank, and the reason for this is based on extremely high credit scores. A blue check certified customer is being 'trusted' based on his/her credit and does not have to go through the extra process. As for them being able to repo your vehicle if you default on the loan, the original application has your name, social security number, home address, and work address, along with prior addresses etc..." He went on to say that he guestimated I had an excellent credit score based on the fact that I was approved for a blue check.

He told me not to worry, there is nothing else for me to do, and everything is in order, and YES, he has already cahsed the check successfully. He explained if there was a problem with him cashing the check last week, he wouldn't have marked the vehicle sold on his website, nor called the shippers to pick up my car (which is logical, and what I thought).

JM

 

[apapada]

Okay, whew, I just called the seller's personal cell phone.

Here is what he had to say: "The person on the forum is only partially right. I am a Capital One certified used dealer in their network. There are two types of Capital One checks. One is a green check and one is a blue check. A green check approved customer has to have the dealer fax/notarize etc. everything the guy on the forum is talking about. A blue check customer does not have to provide that information to the bank, and the reason for this is based on extremely high credit scores. A blue check certified customer is being 'trusted' based on his/her credit and does not have to go through the extra process. As for them being able to repo your vehicle if you default on the loan, the original application has your name, social security number, home address, and work address, along with prior addresses etc..." He went on to say that he guestimated I had an excellent credit score based on the fact that I was approved for a blue check.

He told me not to worry, there is nothing else for me to do, and everything is in order, and YES, he has already cahsed the check successfully. He explained if there was a problem with him cashing the check last week, he wouldn't have marked the vehicle sold on his website, nor called the shippers to pick up my car (which is logical, and what I thought).

JM

just make sure to double-check with Capital One. It's the first time I'm hearing this. Not saying it's not true, just make sure to call Capital One and hear the same info from them. Then share your findings with the rest of us.

 

[Mariner]

wow, I guess my 800+ FICO score isn't good enough for this special priveledge?


If you bought it from a dealer, I can see that they would do most of the steps themselves. But no way is Capital One giving out thier cash without collateral (i.e. being the lienholder on the vehicle purchased).

Story is still fishy.

 

[johnny010]

K, morning. Just got off the phone with Capital One.

Either the guy had no idea what I was talking about, or he just isn't talkative at 8am. I explained to him what has been questioned of my buying experience, and what I have been told by the seller. I asked if there is such a thing as a green check and a blue check. HE SAID YES. I told him that one party is telling me no way this happened without documents faxed/signed etc to them, and the other party is telling me because I had a 'blue check' these extra steps weren't necessary. I explained I had been approved for a blue check, and wanted to know if the dealer was right in what he told me. His response was, "Yes, that is exactly right."

Then I asked if he could confirm if the check had been used/cashed, and his response was "If I can see how much your payment due is, that confirms the check was used."

That was the extent of the call. I spoke with the title department.

 

[johnny010]

So I wasn't settled with my response from the guy at Capital One this morning so I called back and spoke with Pam in the Customer Service department.

This time, instead of asking leading questions, I just asked what happens after I send off a check to a used car dealer out of state. Her response was that the dealer would cash the check, and then the dealer would be required to put the title into Capital One's name. She said the dealer would be able to cash the check BEFORE sending them the paperwork they require. She did confirm that all dealers have paperwork to fill-out, and that this particular dealer has already gotten them everything except the title (something he did not tell me last night). She confirmed that I had a blue check (although this doesn't seem to have any bearing on what Capital One requires, it may just make a difference on what is/is not required up front?).

I asked her the hypothetical question, "What if the dealer never gets the title to you?" She went on to say they would give it a few weeks, then call to advise me that I would need to get into contact with the dealer. I asked what if the dealer doesn't comply, and she said they would then contact the dealer directly.

---------------

Following this, I called she shipper. He knew who I was as soon as I mentioned the car/destination city. He told me he doesn't have a ship date (last time we talked was on Friday - today is Monday). He said he is trying to get it scheduled this week (same answer he gave me on Friday). Stated that if he is able to get it out before Thursday of this week, he will call me. He said if I haven't heard from him by Thursday, give him a call back to follow up. He explained that he plans on getting it here in two days instead of the normal four days. Since my main concern was 'What if I'm not available?' he asked if I had someone that could sign for the car in my absence.

So at this point, it seems everything is in order, and I am no longer worried.

 

[Mariner]

good luck

 

[johnny010]

GREAT NEWS......called the shipper this morning and he had a ship number for me, quoted my cell phone number to me, and said it is coming in an enclosed transport, and the extra tires/wheels will be inside the transport. Cool, I got enclosed transport from just out side Chicago IL to Houston TX.........................bout time I got a break.

Said the car will be here Saturday. Look for an update then, with pictures.