Who has sold or thinking of selling?

[RYU]

I know this isn't going to be popular topic but it would be helpful to know who sold or thinking of selling and for whatever reason?

Unfortunately these prior owners may no longer visit here so perhaps you can post if you know of former owners.

Didn't Jason and his buddy sell theirs? His username escapes me. I know of another gent who's considering selling.

This post isn't meant to be a negative reflection on the car.. if anything you'll have some natural attrition.

 

[amgeater]

I almost did 2 weeks ago, I am positive on the car 18K -5K on my inception fees.. 13K not bad... I was getting 30k off a McLren 570 but the miles just kick the deal to the left...

 

[Heavymetals]

I was told by my HONDA contact that the majority of NSX's are leased, not privately owned.

 

[DJ Iceman]

I was told by my HONDA contact that the majority of NSX's are leased, not privately owned.

It seems that wouldn't bode well for future sales, given that there will be a glut of (presumably) low-mileage 2017's hitting the market three years from when they were first driven off the lot.

 

[Heavymetals]

It seems that wouldn't bode well for future sales, given that there will be a glut of (presumably) low-mileage 2017's hitting the market three years from when they were first driven off the lot.

Three years? Some NSX's were leased for 6 months.

 

[DJ Iceman]

Oh, I didn't realize that. I was thinking of more standard lease deals.

 

[Heavymetals]

Oh, I didn't realize that. I was thinking of more standard lease deals.

From what I saw when I was looking, there were "used" NSX's with very low mileage available.

When I checked, they were lease returns, I guess some people just had to have the "first one on the block" even for a short time.

I am sure those leases were over $3k a month, and with a big down payment.

 

[docjohn]

that will be the most important factor in value ...lease churn...custom order only going forward....

 

[natman316]

that will be the most important factor in value ...lease churn...custom order only going forward....

Not sure about this. I was talking to a dealer and he said there are a couple 18s coming in. He also mentioned hes not sure when the incentive will start for those...sounds like hes pretty sure there will start to be incentives for 18s soon. I also see 18s started to be listed as inventory

 

[Heavymetals]

Not sure about this. I was talking to a dealer and he said there are a couple 18s coming in. He also mentioned hes not sure when the incentive will start for those...sounds like hes pretty sure there will start to be incentives for 18s soon. I also see 18s started to be listed as inventory

Those may have been ordered.

HONDA can't prevent leases, so that is still going to happen.

I was told no more flooring.

 

[dshinke21]

Three years? Some NSX's were leased for 6 months.

That is just not true. Low mileage 2017's you see that are 1 owner cars are what were called exposure vehicles. Acura allowed dealerships to purchase and title 2017 NSX's and take them around to different event's and shows to get some more people behind the wheel and driving the car because this is a vehicle that you must drive to truly understand and appreciate. As a part of this program Acura played dealerships a bit of money to incentive's this and allowed the cars to be sold or leased when they were done. Some exposure units had as little as 200 miles on them and some had as many as 2,500.

Minimum lease that Acura allows on the NSX is 24 months. Only way that could have potentially happened is if an outside leasing company had purchased the car and was leasing it out.

All the 2018's that are showing up on websites are cars that have been ordered and sold. Dealers are doing it for the exposure to show they had a 2018.

 

[bngl3rt]

All the 2018's that are showing up on websites are cars that have been ordered and sold. Dealers are doing it for the exposure to show they had a 2018.

That is an interesting tidbit. I guess there is no legal requirement for dealers to have truth in advertising about what is actually still for sale or not.

 

[Heavymetals]

I don't care what you call it.

They were considered used cars and they were short leases.

 

[dshinke21]

That is an interesting tidbit. I guess there is no legal requirement for dealers to have truth in advertising about what is actually still for sale or not.

I looked into this a bit personally as I had a number of people asking me questions when the very first 2018 showed up for sale at a dealership in Chicago. Mostly potential clients or past customers saying "Hey I thought you told me this wouldn't happen". I called them and talked with them for a bit. It was a sold car that they put on the website simply for the exposure. Every dealership I have called since then, which would be 3-4 that has showed a 2018 on the website has told the same story.

I called each dealer twice. Once posing as a customer and once as a dealer and got the same answer both times.

I don't care what you call it.

They were considered used cars and they were short leases.

If you want to look at it that way then it would be more accurate to look at them as cars that were purchased and then sold as a retired or used demonstrator. By considering them as a 6 month lease that means the car would be sold as a CPO car whereas this is entirely different. These retired NSX exposure cars are unique in that you can save money when you buy them as they have miles but they have the benefits of a new car in that you may purchase or lease. You can not lease a traditional Pre-owned car through Acura.

 

[Blackhorse06]

It seems that wouldn't bode well for future sales, given that there will be a glut of (presumably) low-mileage 2017's hitting the market three years from when they were first driven off the lot.

This is what I am waiting for.

 

[RYU]

I looked into this a bit personally as I had a number of people asking me questions when the very first 2018 showed up for sale at a dealership in Chicago. Mostly potential clients or past customers saying "Hey I thought you told me this wouldn't happen". I called them and talked with them for a bit. It was a sold car that they put on the website simply for the exposure. Every dealership I have called since then, which would be 3-4 that has showed a 2018 on the website has told the same story.

I called each dealer twice. Once posing as a customer and once as a dealer and got the same answer both times.



If you want to look at it that way then it would be more accurate to look at them as cars that were purchased and then sold as a retired or used demonstrator. By considering them as a 6 month lease that means the car would be sold as a CPO car whereas this is entirely different. These retired NSX exposure cars are unique in that you can save money when you buy them as they have miles but they have the benefits of a new car in that you may purchase or lease. You can not lease a traditional Pre-owned car through Acura.

That's news to me. thank you

 

[Heavymetals]

My car was 6 months old when I bought it, had 600 miles on the odometer.

Considered a used car.

Was a lease turn in.

 

[dshinke21]

That's news to me. thank you

If it's done it would be done through an outside leasing company and not through Acura Financial. There is a system in place that some CPO cars can be leased but the restrictions on the cars and hassle when it comes to paperwork means almost no dealers are set up to do it.

My car was 6 months old when I bought it, had 600 miles on the odometer.

Considered a used car.

Was a lease turn in.

Very odd. Guy must have taken a huge loss as he payed for at least his full 24 months of the lease. Is that what the dealer told you happened? Still kind of sounds like an exposure car to me. Sometimes telling a client that may make them hesitant to buy as they know exposure cars were driven pretty hard. When was the car purchased if you don't mind my asking?

 

[Heavymetals]

I looked for months before I found the deal I got.
I made an offer and they told me to get lost.
Three weeks later they called me asking if I was still serious and they took my offer.
There isn't a line of people buying $200k sports car hybrids.
On top of that, a lot of people won't qualify for the financing on a used one.
I bought the car in August of 2017.

I have no idea of the lease arrangement the guy had and it is presumptuous to assume it was for 24 months.
I don't think he bought the car and then traded it in, although that might have been the case as I was told by three different people the guy had two and decided the one I bought was the one he didn't want.
One salesman told me the guy had leased two and turned this one in which made more sense to me.
If you got the money, you get what you want and to hell with what it costs.

 

[dshinke21]

I looked for months before I found the deal I got.
I made an offer and they told me to get lost.
Three weeks later they called me asking if I was still serious and they took my offer.
There isn't a line of people buying $200k sports car hybrids.
On top of that, a lot of people won't qualify for the financing on a used one.
I bought the car in August of 2017.

August of 2017 would mean it is possible that the car was an exposure car. Definitely an interesting situation to say the least. Hope the car is treating you well!

 

[Heavymetals]

If it was, it sure wasn't exposed to any hard driving or the elements.


Even with the dealers blowing out the 2017's I could not have got a new one set up like this one for the price I paid.

However, the down payment was HUGE.

 

[DocL]

If it was, it sure wasn't exposed to any hard driving or the elements.


Even with the dealers blowing out the 2017's I could not have got a new one set up like this one for the price I paid.

However, the down payment was HUGE.

Just run a carfax on it. You'll be able to see how it was first titled. If in fact it was leased it will be listed as so.

 

[Heavymetals]

I did and it was.
First thing I did before I purchased.

 

[Cal_92]

Very odd. Guy must have taken a huge loss as he payed for at least his full 24 months of the lease. Is that what the dealer told you happened? Still kind of sounds like an exposure car to me. Sometimes telling a client that may make them hesitant to buy as they know exposure cars were driven pretty hard. When was the car purchased if you don't mind my asking?

Instead of paying his full 24 months of the lease, the most likely scenario is that the car was bought out from AFS. The purchasing dealer gives you a buy offer, then you get the payoff quote for the lease from AFS. (Buy offer) - (payoff quote) = (additional money from leasee). If this is negative, leasee gets money back, else he gives that positive amount out-of-pocket to the purchasing dealer. Depending on the buy offer or the payoff quote (leasee may have put lots of $$$ for cap cost reduction), this amount can be significantly lower than paying the remaining payments of the lease.

As for exposure cars (or any low mileage used ones) being driven hard, a quick check of the brake pads and tires can show a lot.

 

[dshinke21]

Instead of paying his full 24 months of the lease, the most likely scenario is that the car was bought out from AFS. The purchasing dealer gives you a buy offer, then you get the payoff quote for the lease from AFS. (Buy offer) - (payoff quote) = (additional money from leasee). If this is negative, leasee gets money back, else he gives that positive amount out-of-pocket to the purchasing dealer. Depending on the buy offer or the payoff quote (leasee may have put lots of $$$ for cap cost reduction), this amount can be significantly lower than paying the remaining payments of the lease.

As for exposure cars (or any low mileage used ones) being driven hard, a quick check of the brake pads and tires can show a lot.

My thought process stems from the idea that market values on these cars in February of 2017 when they guy would have leased it were still very high, they guy most likely payed sticker or close to it. When you compare that to the market value of the car 6 months later in August the values had already started to take their dip. I'm guessing the trade in value he received was significantly lower than the price he payed for the car and he most likely lost a decent amount of money on the deal. Working with Acura leases on a daily basis I have never had a single customer that has had positive equity in their lease. No matter their situation. It is almost never financially smart to get out of a lease after 6 months unless there are very special circumstances surrounding the deal.

Not to say it doesn't happen fairly regularly. Guys take a loss on cars like this all the time. Sometimes it hurts and sometimes it doesn't. I had a customer trade in his 6 month old Valencia Red NSX with 2300 miles for our Casino White NSX as he liked the spec better. Lost about $30k on the car but he loves the white one and was happy with the transaction.