Hmm - so I can pull out a HELOC and all the interest I am paying is tax deductible? Why doesn't everyone do this then? Apart from the obvious of getting your house foreclosed on... :tongue:
Jonny
What can I expect for $25K?
- Thread starter renegade13
- Start date
Hmm - so I can pull out a HELOC and all the interest I am paying is tax deductible? Why doesn't everyone do this then? Apart from the obvious of getting your house foreclosed on... :tongue:
Jonny
I am sure you could find a great deal for a NSX. There are 2 NSX's in my garage right now. one is my and the other is my GF. the reson we have 2 is because we were at the right place at the right time and got a 91 black on black for 19,500 and with 66k miles on it and the car was in great condition esaly could sell for 30k. But the chance of actually being at the right place and time like we were are slim to none. But it happened to us so it could happen to any one. The thing is that some people who have NSX are not on this forum and sell there cars based on KBB and that's why we got a deal on it. But you will not find a great deal on this forum cause people know what the car is worth and sell it for that amout. So dont think that some will post a NSX for sale on this forum for 20k and the car could sell for 30k because they know better plus I would go buy it the very second that they put it up for sale. :smile:
Well there you go. Ken's the man! The only thing I can add is sometimes car loans, especially from an incentivized dealership may offer you a better (subprime) rate that you could possibly get from a HELOC (which often is based off of prime rate. Read: it fluctuates). 5%, 2.5% even 0% fixed financing is possible if you can find the right lender. You’ll have to do the math on the interest write off vs. lower interest rate to see if you are worth it. Also, remember you have to have the equity in your house to even afford the car. So if you bought your house 2 years ago, unless you are in a super hot market, the chances are you won’t have $25K in equity to pull from. And like you mentioned, the whole putting all your eggs in one basket issue.
well, here is my $.02...you cant get a super clean NSX for 25k. Period. 25k will get you a combination of what everyone is saying, ie paintwork, broken ac, lack of service etc etc. Especially with this car, YOU GET WHAT YOU PAY FOR. I am a firm believer in that. If you run across someone that needs to "dump" the car, chances are they didnt care for it, obviously this isnt a fact, but if they are careless enough not to manage their finances, how can they manage their toys?? just how i see it.
In regards to financing, capital one may be pretty good however i suggest your local credit union. I financed part of mine for 24 months, my rate is 3.9%, i could have gotten up to 96 months (insane) at 6.25%. I thought that was pretty impressive.
In regards to financing, capital one may be pretty good however i suggest your local credit union. I financed part of mine for 24 months, my rate is 3.9%, i could have gotten up to 96 months (insane) at 6.25%. I thought that was pretty impressive.
OP,
I agree with most of the statements regarding the elusive $25K NSX...you'll definately find a car with accident history, high mileage, or both. I'm new to NSX ownership and I'm already finding it will be an expensive journey but well worth it.
I'm very fortunate because I found a mint condition, low mileage, absolutely babied and modified 1991 Berlina Black NSX for under $30K. My advice is keep saving and when you have all of the funds then you'll be prepared to drop serious cash and get the mint NSX you want.
Patience is a virtue...especially in NSX ownership.
Jetpilot
I agree with most of the statements regarding the elusive $25K NSX...you'll definately find a car with accident history, high mileage, or both. I'm new to NSX ownership and I'm already finding it will be an expensive journey but well worth it.
I'm very fortunate because I found a mint condition, low mileage, absolutely babied and modified 1991 Berlina Black NSX for under $30K. My advice is keep saving and when you have all of the funds then you'll be prepared to drop serious cash and get the mint NSX you want.
Patience is a virtue...especially in NSX ownership.
Jetpilot
My buddy sold his 93 with 90K for 25K. The car was in mint condition. Just take your time, one should come along. :smile:
FYI, in my case the guy wasn't looking to dump the car for any financial reasons. He wanted to do a career change and was looking to dump the NSX to jump start the change. Not all people looking to dump cars/goods are doing it because they are desperate for the money. Case in point, I bought some carbon fiber seats for about $1,200. I am selling them to a co-worker for about $600. They are brand spanking new, I hadn’t even taken them out of the box. Why? Because I just want to get rid of them them and get them out of my house. That's an incredible deal and if the guy I offered them to took a "you get what you pay for" mentality on them, he probably would have missed that opportunity. All I'm saying is that deals and opportunities can be had if you have time and patience. A brand new '08 model car will sell for more at the start of the year, then sell for thousands less at the end of the year even though it didn't move an inch. Or that same model car as soon as it is bought, loses a few thousand dollars in value as soon as it is driven off the lot. It's still the exact same car, the cost of the parts and labor is exactly the same, yet the value has dropped.
