NSX buying term?

[csmeance]

As you guys know, I've been actively trying to find an NSX for a bit, and the ones that I do find, something comes up to stop me from getting it. For example, I found this beautiful white 93 in the for sales here, the owner was VERY informative 100% honest and a good guy. Price was great too. Issue: Financial person tells me that I'll loose an easy 10K if I try to sell my stocks now, which is true, so I have to wait until they get back up near buying price.

Anyway moving on to the main point, is it feasible to own an NSX for say, 6 or 7 months and then be able to sell it quickly in the event the stock market dips way too much and I need the money for other things?

 

[RPM217]

As you guys know, I've been actively trying to find an NSX for a bit, and the ones that I do find, something comes up to stop me from getting it. For example, I found this beautiful white 93 in the for sales here, the owner was VERY informative 100% honest and a good guy. Price was great too. Issue: Financial person tells me that I'll loose an easy 10K if I try to sell my stocks now, which is true, so I have to wait until they get back up near buying price.

Anyway moving on to the main point, is it feasible to own an NSX for say, 6 or 7 months and then be able to sell it quickly in the event the stock market dips way too much and I need the money for other things?

If you're buying the NSX on margin, that's a very bad idea. A car such as the NSX is an extravagence, a good one, but not practical if you can't afford it. For that matter, you shouldn't buy any car that you can't afford, not just a NSX. There is no guarantee that your stocks will ever reach your purchase price.

 

[csmeance]

If you're buying the NSX on margin, that's a very bad idea. A car such as the NSX is an extravagence, a good one, but not practical if you can't afford it. For that matter, you shouldn't buy any car that you can't afford, not just a NSX. There is no guarantee that your stocks will ever reach your purchase price.

Its not that I can't afford the NSX, the issue is the loss I am taking on those stocks. What I meant to ask was, suppose those stocks go up and I take my money out and get the NSX. Then 6 months down the line the market dips and all of my other stocks tank, and I need the money for savings, emergencies, etc.

 

[CDX_NSX]

NSXs don't typically sell quickly. Price it low and someone will snap it up, but if you plan to get most of your money back, be prepared to wait for the right buyer.

A car like the NSX "should" be bought with excess funds. If you think that you may need to sell the car to raise cash soon after you buy it, it may be a good idea to wait until you can spend the money without worrying too much. It's just not as much fun owning an NSX if in exchange you end up worrying about your cashflow.

 

[RPM217]

Its not that I can't afford the NSX, the issue is the loss I am taking on those stocks. What I meant to ask was, suppose those stocks go up and I take my money out and get the NSX. Then 6 months down the line the market dips and all of my other stocks tank, and I need the money for savings, emergencies, etc.

If you're using your emergency monies for a NSX, well you know the answer to that. You should not even consider making such a purchase unless you have adequate "savings", your retirement account is properly funded, your kid's (if you have them) education is taken care of, and you have at least 6 months of your fixed expenses put aside. 'Nuff said!

 

[Cairo94507]

Please-if you have been on this forum for any time at all, you should know the answer to your question. Price controls the time for which it takes an NSX to sell. So if you think, and I hate this term, that you are going to "flip it" and make some money......I would go to Vegas instead. Better odds. But, good luck with your plan.

 

[csmeance]

Please-if you have been on this forum for any time at all, you should know the answer to your question. Price controls the time for which it takes an NSX to sell. So if you think, and I hate this term, that you are going to "flip it" and make some money......I would go to Vegas instead. Better odds. But, good luck with your plan.

nope, not flipping any cars. I buy cars to drive them and enjoy them, not to make money. I guess you guys are right, leave the money in stocks alone for now and setup a separate fund for the NSX so I can cherish it for many years. I appreciate the help guys

 

[RON98]

I'll loose an easy 10K if I try to sell my stocks now, which is true, so I have to wait until they get back up near buying price.

sell your stocks now. buy it in 2 month when sht is still hitting the fan.

you'll free up money while at the same time have the same if not more shares when prices are lower.

:biggrin:

 

[NSX GT]

You've got a long wait before the stocks go up. It hasn't bottomed out yet IMO and the worst is yet to come unfortunately. Gold is your best bet. No guarantee that the stock will be on the up swing when you need it. Good example, my friend set up a college fund 10 years ago, his daughter will be attending college next year. Her college fund is down by 40%. Citi bank stock went down 90% and now needs government assistance. Nothing is 100% safe out there, life is a gamble.

Wish you the best of luck on your decision.

 

[tosugrad]

Keep your money and re-asses your ability to own an NSX in 6-9 months. If you even THINK you may need the money in your NSX (or any car) to do other things, than you should skip the purchase.

 

[NSXGMS]

You're talking about moving money from a potentially appreciating semi-liquid asset to one that is categorically a depreciating, totally illiquid asset. In terms of financial strategy that would be ridiculous.

And remember, how long has the guy who has the NSX you want to buy had it for sale? As of now you're the only guy that is close to buying it. Imagine you're him trying to unload the car 7 or 8 months from now with even more mileage on it. You better pray someone like you comes along to buy it.

This is a great time to buy and a horrible time to sell. If you may need to sell in a hurry I wouldn't buy.

 

[Ties]

My hobby is trading stocks, first disclosure I am very short the market now. I do not think we have yet seen the worse. Flipping an NSX is a very bad idea, the one assumption everyone is missing is that if you need the money,that means things have gotten much worse(which I think it will) not exactly the enviroment in which to sell an exotic car. Check out what has happened to the used exotic market over the last three months. The NSX has not been hit as hard because it is still affordable but trust me values will continue to drop until the economy rebounds.

The bottom line is do not buy items you cannot afford if times get very tough. Cash is king.