To buy or not to buy, that is the question

[splitz]

I'm looking at a 1995 with 63,000 miles on it. It is in pretty good shape, but there are 3 small "dings" in the hood and 1 in the right front fender, the front air dam's paint is weathered in one spot, the leather needs to be replaced (it is not horible, but has more wear than my tastes), and the rims have curb rash (which I would change anyway).

He wants $31,000, but I dunno KBB says a fair is around 28,500 and good is 30,500. I'm just really hesitant to drop that kinda cash on a 10 year old car.

 

[gtr]

That is a really good price. Has the car been salvage or is in poor condition. KBB is not accurate due to the formula they used for depreciation that doesn't apply to exotics.

Just make sure it runs great with maintance recordes. Timing belt/water pump valve adjust, frequent oil change and etc..

 

[MJK]

Unless I am completely misunderstanding the condition of the car, that is a steal! If you pass on it, I want the address to show up with a check. I am not kidding.

 

[splitz]

That is a really good price. Has the car been salvage or is in poor condition. KBB is not accurate due to the formula they used for depreciation that doesn't apply to exotics.

Just make sure it runs great with maintance recordes. Timing belt/water pump valve adjust, frequent oil change and etc..

It's got partial records, but the timing belt has not been done yet. I've got him down to 30,500

Thanks for your inputs...I guess I was just looking for a little more courage!

 

[Shumdit]

I agree it sounds like a great deal. I would have the car checked at a dealer and have the check ready!

 

[NSXFreak00]

are you sure thats not salvage title?

that price is VERY LOW...

hell there are 91s out there for the same price and maybe even higher mileage

 

[khappucino]

I'm looking at a 1995 with 63,000 miles on it. It is in pretty good shape, but there are 3 small "dings" in the hood and 1 in the right front fender, the front air dam's paint is weathered in one spot, the leather needs to be replaced (it is not horible, but has more wear than my tastes), and the rims have curb rash (which I would change anyway).

He wants $31,000, but I dunno KBB says a fair is around 28,500 and good is 30,500. I'm just really hesitant to drop that kinda cash on a 10 year old car.

That is a GOOD price for a 95, assuming other than what you have stated nothing else is wrong, hell i paid almost that much for my 91 =) (it was in retarded good shape)

 

[jimmycinla]

Cheap.
Don't buy it unless you get it checked out by Acura or NSX specialist and a body shop to look for previous damage.

 

[Mojorator]

I paid A LOT more than that for a 96 with More miles (68K)...

If everything checks out, DO IT!

P.S. For shytes and giggles, I called a local dealer to get an "ESTIMATED" trade-in value for the car and the Used Car manager quoted me $33K :biggrin: on the spot OVER THE PHONE....pretty crazy if you ask me... :wink:


Mike

 

[splitz]

Well, I should say that he was asking for $35,000, but I pulled out the Kelly Blue book prices and he folded. I checked it for damage...mis matched lines, over spray, components that were "too new" and it all looked good.

Thanks for the input!!!!

 

[ghost]

...speaking of kelly blue book...(Its a long post so bear with me.....)


It bothers me, how so many people, just simply think that KBB is god's word on cars....and that the car should be sold at that...

I dont mean to be critical, but i would laugh in someone's face if they pull the kbb specially on an nsx.....

You dont believe how often that happens and how naive some people are..

I have a 91 nsx in mint condition with around 50k....and according to nsxprime price guide it should be around 33k or so (I have it priced at 29k)...It is one of the cheapest priced 91 nsx (with around 50k mi or less) on autotrader in the nation.

Yet i get some people who call me up... and say " ........BUT KBB for this car is 18k !!!!??" (even after they went through the classifieds, and saw how much a similar car of similar condition, year and miles are going for).

Believe me, some of those people are that stupid...and its not just a ploy by them for price negotiation..they sincerely believe that the car should be sold at that...

Kbb is also off on many other cars.....like for some used camrys, kbb can be underpiced by almost 35% !!! At the same time they are overpriced by almost 30% on how much some used jeeps are going for in the market....

Not to leave NADA out of this topic. A few years back i owned a Mercedes-Benz S500, according to NADA the value of the car was $55,000, but the actual market value or what they were going for was around $36,000. NADA was off by almost $20,000 !!!!!!!

So the moral of this story, dont just rely on KBB or NADA, look at the classifieds and see what the True Market value of the car is, before you begin the buying or selling process.....

Finally, and back to the main issue of this topic....when a car is underpriced by thousands....something is usually up , whether its a scam, a hidden collision history, or mechanical problems etc....

On the other hand it could be a legit deal, with the car being perfectly OK. It maybe that the seller needs money quickly, in a divorce, doesnt really care how much car sells for, or not confident in his price and the buyer negotiates down the seller several thousands on the price (like in this case with splitz), or didnt know the exact value of their car when they priced it, or maybe they looked at the value from KBB !!!

 

[splitz]

or didnt know the exact value of their car when they priced it, or maybe they looked at the value from KBB !!!

I think that is the case with this guy. When I asked him about the price, he immediately told me he was trying to get close to the "Retail" KBB value, and I convinced him that no way get that so SHHHHH...

OR

I'm getting hosed...either way I'll have some great stories to tell

 

[MCM]

30,500 is a very solid price.
Include the cost for the paint & body work, int. work (seats), timing belt,
tires and rims and you could have close to 40k in it.
Still a good deal, but you should be aware of what your getting into.
How many owners? Did you run a Car fax? Is the sale contingent on
being checked out by a tech? recent Smog check?
Not being a dark cloud, just pointing out a few thing you did & didnt mention. :biggrin:
Buy it & post some pic's!

 

[splitz]

Well I decided to jump in head first! I did run the carfax, and I am now the 4th owner of the car. The first things I wana get done is the paint and leather, so yeah I'll probably sink another 5k into it before all is said and done.

Thanks everyone!

 

[jimmycinla]

Well I decided to jump in head first! I did run the carfax, and I am now the 4th owner of the car. The first things I wana get done is the paint and leather, so yeah I'll probably sink another 5k into it before all is said and done.

Thanks everyone!

Nice!
Good deal.
IMO I'd do the 60k service b4 Paint 'n Leather.

Enjoy!

-jc-

 

[gtr]

Any pics for us :biggrin:

 

[splitz]

Any pics for us :biggrin:

I'm claying/sealing/waxing it today, so if it turns out the way I hope I'll post some pics this week.

 

[Tony Montoya]

How can we know true market value when all we know is the asking prices and not the selling prices? The people that know the true prices work for the tax dept. That info should be public.