Value of our cars

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17 June 2009
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What is the real $ value in your guys oppinions. I ask because i got my car for around the fifty's. I called a credit union for a better rate and she valued a 2002 nsx with 50k miles at $62,000!! So, is it the economy is turning around or people are just giving their cars away. Ive seen 02's going for about what i paid but 62k? Loan officer cant even comprehend my debt/equity on how i can afford this amazing car.....I have even more pride and appreciation in owning this car and its always going up.... In part because of not only this machine but the people who own them.
 
I don't know what it's worth but I've seen lots of 2002s going a lot less than that. In my opinion - and I have no idea where that banker is going to find the information on the sales price but you could scan all the usual suspects - NADA, Kelley, Edmunds and none will be the same I assure you, but what's the mileage. We need a lot more info on the car than the year. I think up front that 62 is high - and if anyone falmes me for my opinion - forget about it cause it's my opinion. Finally it's worth what someone will pay you for it.
 
Originally Posted by tbromley View Post
Finally it's worth what someone will pay you for it.

Exactly....price is no object if you want something bad enough. There's not an unlimited supply of our cars.....just sit back and wait.
 
I'm happy with the fact that our cars are worth more, it makes more sense to keep a car if its value is increasing. I also strongly believe that it is up to us, prime members to actually set the value of the NSX since we are the largest group of owners that buy and sell.

I have been watching the market for the past few years and I observed a slight increase myself. I august 2009 there was 5-6 2002+ listed. The average 2002 / 2003 with 35k - 45k miles and no or minimal mods was listed for $49 000 and propably sold for $45 000

What are similar cars listed for now? I would say $53k to $55k or more.
my .02
 
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This just makes me have to wait longer for getting an 02+ now :(
 
there are some uniquenesses about the 02+ nsx

1) there were only around a 1000 made (in the us)
2) a very high percentage of these were purchased as leases, as acura was subsidizing the purchase of the car (sticker of 88k) by offering a too good to be true lease dead.
3) as a high percentage of these cars were originally leased, the people leasing them bought them and used them, daily driver, driven in rain weather etc, and put miles on them. compare this to the 91-93 cars where a significant percentage were bought and stored or at most were weekend cars.
4) the acura leases were 3 years but the owners could extend them and go month to month for an additional period of time.

What does all of the above mean/
- up until late 2009 monthly you were seeing a steady supply of 02+ nsxs coming off lease and being sold. There are now no 04/05 nsxs leased and thus very few coming up for sale.

also, it is harder to find a 02+ that has extremely low miles, original tires, non accident, all keys paperwork etc, as the cars that were driven, suffered bumps and bruises and then were sold or turned in, where the window stickers, extra keys, etc are often lost.

so, my prediction is that over time finding one of the 1000 02+ nsxs that has not been used as a daily driver, not been in any accident, has all original paint, and all keys, documentation is going to take some amount of patience.

on the flip side it should mean that you can find a good 02+ driver if the above are not that important to you.
 
Im lucky enough to be fifth owner, all private ppls, no leases and dven have all 3 keys and the read one. I never realized this tell it was posted. Ro nust got a sti , 07 and it only had 1 owner and be still only got one key.
 
Much of what Socal has mentioned is correct.

Production Numbers for 2002-2005:
2002 - 246
2003 - 171
2004 - 197
2005 - 248
Total 862

I'm of the firm belief that these cars will become collectors in 10+ years. The cars that may be one owner or complete in nature (no accidents, original everything) will command high premiums. You simply are trying to buy from a very small pool and something like the equivalent of 1 months production run of any other car!

Ben had done a summary based on rareness in a post that was neat to read that pin pointed NSX's of low production numbers and color combinations. Those will become highly desirable too.

I can't wait.
 
I wouldn't read much in to the valuation provided by your credit union. I just picked up a 91 with almost 80k miles on it for mid 20s, which is pretty much in line with prices I have seen both here on Prime and elsewhere. My credit union valued it at 32,500.

Credit Unions are great. They are member owned so they bend over backwards to make loans easy. That includes generous valuations that make zero-down loans possible. But it also means you can get upside-down on your loan the day you sign the papers. Be sure you have enough insurance to cover the loan.
 
The marketplace determines value not a clerk. As an example, I have a waterfront property in WA state estimated value $259K and it has not sold in a year.
 
Steve is correct - the marketplace determines the price of everything. Right now, the economy is still in the pits - we just (08 debacle) had the "50 year flood" disaster - we are at the BOTTOM, and I suspect, we are only going up from here. Our NSX's are cheap now - but will have virtually zero depreciation from this point forward. Not too many automobiles that can say the same.

Drive, enjoy, and the future values are heading higher. .02. Jay
 
I ran a NADA report on my '04 the other day and it's up $4,000.00 from when I purchased it three years ago. With that said, I understand it couldn't be sold for the same price but it's nice to own a car that isn't depreciating... :cool:
 
It is true that the value of our nsx's have decreased significantly, I purchased a 97 spa yellow no accidents clean title clean carfax with 40k original miles from brooklyn ny for 34grand, the owner showed me that he payed 48grand a year before he sold it to me. Before purchasing this one I was interested in a black 94 with 25k the owner wouldn't budge at 38grand. He said he payed 50grand 2 years ago, he was pissed. You have to understand that the exotic car market is the same as high end expensive homes.
 
indeed...

Speaking to my insurance agent/adjunct & someone w/ the state/county tax office, yes- '02-'05 NSX'es have risen somewhat in their values as of late as-per their indexes. (I often touch base w/ both of them, over the years)

Why? I have no idea. I'm just stating what I came across. Interesting, nonetheless.
 
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