What is so expensive about owning NSX?

[Michigan NSX]

Originally posted by DamonBoost:
Wanna sell it?...

Not for less than $35k. I have put a new audio system in it, tinted the windows, lowered the car, put on aftermarket wheels/tires, changed out the battery for an Optima one, upgraded the shift knob, painted details in the engine compartment, added Zanardi mats, etc...

You can see pictures here.

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'91 Black/Black

 

[DamonBoost]

Originally posted by nsxtasy:
Are you asking whether financing is available? (It's not very easy to find.) Or whether it's a good idea? (I don't think spending all your savings on a car that's mostly financed is a great idea - what are you going to do if you suddenly need a clutch for $2K or an A/C repair for $4K?)

If you're 24 years old, I think there are higher priorities for funds - building up some cash as a down payment to buy a place to live, to cite one rather obvious example. An expensive sports car - and the NSX is an expensive sports car, make no mistake - is not a necessity, and you ought to think about taking care of necessities before splurging on something that's a luxury item that has the potential to absorb much of your disposable income.

Your everywhere!! I see you post on HT too. Thanks for your help and concern. I am not like most mid 20's adults. So I am not going to give you the typical "stay out of my business, I am a grown man" responses that I see so many times on message boards. I really do appreciate the advice! I however have no intrest in buying a house. I am single and enjoy living in a nice loft apartment downtown. It fits my lifestyle. As for as my savings. It is not. It is the money I made off of my Integra. I didnt save it up just to buy this car. I spent close to $1200K a month on mods and the car payment on the Integra, and still lived decent lifestyle, not having to eat ramen noodles or anything. Now I want to spend around $400 a month on the car and use the other money for things that I will enjoy, such as traveling. I know this sounds crazy but I am buying the NSX to be more reliable and to save me money in the long run. My insurance only went up like 30 bucks so thats not really an issue.

 

[Michigan NSX]

Originally posted by DamonBoost:
... I spent close to $1200K a month on mods and the car payment on the Integra, ...

$1200K is equal to $1,200,000.00 (1.2 million). Thats a lot for any non formula 1 car. (I know you meant $1,200.00 but it just struck me as funny).

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'91 Black/Black

 

[nsxtasy]

Okay, just making sure you've thought things through.

You DO point out a very legitimate point about mods - the money you spend on mods rarely results in an increase in the market value of the car, and never does so on a dollar-for-dollar basis. That's why it does indeed make eminent sense to spend the same money to buy a higher-performance car and leave it stock; the money is mostly retained in the market value. Of course, you still need to allow for depreciation. Plus you need to take into account the value of the money (capital) that's tied up in the car; whether you're financing it (and paying someone else for their capital) or owning it (and NOT investing the money elsewhere), you still pay it, one way or the other.

Anyway, it sounds like you have thought all of this through, and you're just asking about whether financing is available. That's been asked before, and there are a few places that offer financing even on an NSX this old. One place is www.peoplefirst.com and some others are mentioned in this topic.

[This message has been edited by nsxtasy (edited 03 September 2002).]

 

[DamonBoost]

Originally posted by nsxtasy:
Okay, just making sure you've thought things through.

You DO point out a very legitimate point about mods - the money you spend on mods rarely results in an increase in the market value of the car, and never does so on a dollar-for-dollar basis. That's why it does indeed make eminent sense to spend the same money to buy a higher-performance car and leave it stock; the money is mostly retained in the market value. Of course, you still need to allow for depreciation. Plus you need to take into account the value of the money (capital) that's tied up in the car; whether you're financing it (and paying someone else for their capital) or owning it (and NOT investing the money elsewhere), you still pay it, one way or the other.

Anyway, it sounds like you have thought all of this through, and you're just asking about whether financing is available. Do a "search"; that's been asked before, and there are a few places that offer financing even on an NSX this old.

I even thought about taking the 10K and putting in the stock market. For a few years. Just buying me a $5K-$6K car. LOL! Do you have AIM by chance or any of you guys?

 

[nsxtasy]

Originally posted by DamonBoost:
I even thought about taking the 10K and putting in the stock market. For a few years. Just buying me a $5K-$6K car. LOL!

That's not a bad idea - but the stock market is much better as a long-term investment. For just a few years, there's little assurance that your funds will appreciate. They might - but they might not, and you have to accept that risk.

 

[wilsonp]

Originally posted by nsxtasy:
Are you asking whether financing is available? (It's not very easy to find.)

...

If you have excellent credit, PeopleFirst.com has no problem with almost any vehicle - it is more like a personal loan.

 

[DamonBoost]

So any of you guys have AOL Instant messenger?

 

[tchaic]

I am on aol- screen name [email protected]... IM me if I am online and we can talk NSX. I think the NSX is a great car for your situation. I am 27 and my last car was a 911 C2. So far the NSX has been way less of a headache and costs about 1/2 to maintain. I think the idea of whether or not maint. is high is subjective to what you have driven before. With regard to financing, I would look to join a credit union. My credit union loaned me 100% of the money for my 94 NSX on a 72 month term. With a car that doesn't depreciate much (ie a 91-93) the longer term is not particularly dangerous. I am sure their are credit unions in your town. I haven't "banked" with a bank in over 5 years. Credit Unions are awesome for people that like older (5+ yrs) exotic cars (Porsche, Nsx, Ferrari, etc..) My interest rate is 6.9% and my credit is B+ to A- (Good but not perfect). Good luck and enjoy the NSX- I love mine!

 

[khiroshima]

As far as maintenance is concerned, don't forget to budget $125+ every quarter to give to your friendly paintless dent repair guy.

If you are like me, I like to drive and inevitably, I find door dings that mysteriosuly weren't there when I last looked . . . EVEN when I park far from other cars. Kevin

 

[DamonBoost]

I am trying to be patient..... *sigh*

 

[medusa]

What is so expensive about owning NSX?

The women!

Oh, wait..I forgot about the insurance.

 

[nsxtasy]

I pay less in insurance on my NSX than I do on my Integra. And that's without even adjusting for the fact that I suspend most of the insurance coverage (and pay less) during the winter months.

 

[5inchfatlip]

The women??? I get all my attention from boys and ricers always chasing me....

I just spent $80 on an oil change...the previous owner always used it, so I stuck with it...

I felt better when I noticed I drive the car pretty hard every time its out..