Should one avoid purchasing a car when many previous owners?

[mcano]

Hello Everyone,

I have been looking for the past few months at 93 – 96 vintage NSX’s to buy and I have read several CarFax reports. I have noticed that the vast majority of these cars have had multiple owners. One 94 had five owners. Another interesting observation is that some of the CarFaxs revealed a much quicker turnover rate with the most recent owners, i.e., one year stints, pus or minus. Granted, since I’m looking at cars that are between 10 and 13 years old, one would expect 2 and possibly 3 owners. Perhaps, since I tend to hang onto my cars for an average of 9 years, I’m out of step with the normal ownership trends. Also, the NSX is not your normal car, which I’m sure figures into the turnover formula.

Now, I know that there are many other factors that come into play in determining the condition of a car before having a PPI performed including, but not limited to, mileage, geographical location for weather purposes, urban and rural driving conditions, use as a weekend or daily driver, obvious appearance, obvious mechanical condition, maintenance records, perceived conscientiousness (pride of ownership) or financial ability of the seller to properly maintain their car, and the reason why the car is for sale. For cars that are being sold by NSX PRIME members, I also look at all of their posts to see if they have brought up problems they are experiencing with their car and are seeking advice. I’m sure there are more factors, since I’m new at this, but I think I have covered the major ones.

Anyway, with the above said, here are my questions:

1. How much concern should one have when looking at a car with many owners, let’s say 4 or more?

2. What concerns should one have with cars that have a high turnover rate in recent years?

I have already formed some of my own opinions to my questions, but I would like to hear yours.

Thanks,

Mario

PS: I did not run a search on this topic, so I hope it has not been discussed before, or at least not recently.

 

[NsXMas]

interesting question. Not sure there is a right answer.

As these cars get older, the number of owners inevitably go up. It all depends on demand/supply. How many original owners are left? How many have been owned by 1, 2, 3 or more owners?

 

[The Kid]

In certain states, i.e NJ...every time the car gets resold thru a dealership, it counts as another owner. So 3 owners cars, look like 6 owner cars. Research and investigate and find one you fell comfortable with. Dont settle. I searched for 1.5 years before I bought mine.

 

[Hugh]

Having the car's service history documented is infinitely more important than how many owners it had.

 

[The Kid]

CARFAX defines an owner as an individual or business that possesses and uses a vehicle. Not all title transactions represent changes in ownership. To provide estimated number of owners, CARFAX proprietary technology analyzes all the events in a vehicle history. Estimated ownership is available for vehicles manufactured after 1994 and titled solely in the US including Puerto Rico. Dealers sometimes opt to take ownership of a vehicle and are required to in the following states: Maine, Massachusetts, New Jersey, Ohio, Oklahoma and South Dakota. Please consider this as you review a vehicle's estimated ownership history.

 

[Mirroredshades]

It does raise a flag with a lot of owners but I wouldn't let that be a deciding factor. My car had 5 owners when I bought it and the car was flawless with 40k miles. I saw a single owner one with 130k the other day that looked pretty worn out.

Another factor with the NSX is that alot of people buy them because it is a dream car that they only use on weekends. It is usually a second or third car and after a couple of years it might seem ridiculous to have a $40k car sitting in the garage getting 3k a year. I think that's why most sell it quickly.

Somebody else mentioned the service records. When I bought mine, the previous owner had just dropped $3k on the timing belt and etc. I think he dumped it because he knew the clutch was nearly shot and he couldn't face the $5k bill for a new clutch. Be aware of the upcoming needs such as timing belt, clutch and etc.

 

[Jay444]

If a car is being 'turned over' very quickly...I would be extra cautious in looking for potential problems etc. Other than that, I don't think the # of owners matter too much...more important is the cars' service history, and having a thorough, independent inspection done.

 

[mcano]

Thanks people!

The fact that in certain states interim owners, such as car dealers/brokers, are required by law to register the car is a helpful piece of information. I'll make sure that I look at the states where the car has been registered to determine how many pertinent owners really exist.

I have come to understand and agree that the thoroughness of maintenance records and how far back the records go is one of the most important pieces of information needed to determine a car's condition. It appears that the sellers on this site general offer better records than other venues because they generally exude a higher level of pride of ownership. I have found that used car dealerships and E-bay brokers are the worst providers of maintenance records.

I still have a concern when a car is turned over a lot by the most recent owners, particularly if maintenance records are absent. I guess if the car passes the PPI, I would be less apprehensive. I do plan on setting aside at least $3,000 for unplanned maintenance issues, and I do understand completely that the vintage of the car I’m looking for (95/96) will have maintenance issues. My wife and I and our kids are Honda owners, and although our cars last a long time, parts do wear out.

Thanks for you opinions. I'll be sure to post when I find the right car.

Mario

 

[TomCat]

I ALWAYS ask "why are you selling"?