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Fair Market price on a 2002 with 28k miles?
- Thread starter jvmax
- Start date
It's my personal belief that you should consider paying a little more for the right car, especially when there are not that many made (colour and year). I'd say $50K a great deal, $55K a fair price to + in today's seriously soft market. At this point in time, I believe an NSX car should not be considered collector/investor quality, rather buy at a reasonable price to have in your garage and sell at break even or slight loss. I paid + price for my car and glad I did after 18 months or searching. Having said all this, there is so much to price based on visual inspection, PPI, prior ownership confidence etc...Good luck in your search. Some say the search is half the fun, for me it was a royal pain in the a$$.
55K $ was the number that came to mind immediately. It's low miles but not low, low miles. 58-60K $ springs to mind for 20K miles and under '02+.
55k is a good price. All up to date maintenance is the biggest plus. When I bought my nsx it had all up to date maintenance, but it didn't come with the original window sticker, owners manual, basically all the goodies that came with the car from the dealership.I have spent the last 8 months trying to hunt down some of these items. I would love to have reciepts of maintenance and original owner documents, all I have is carfax to go by. I can imagine Some of the pleasures of owning this car, is having these in hard copy and looking over them and enjoying them.
B4 anyone flames you they will say its worth what someone will pay. My oppinion, its worth around 52k Imo, maybe 53k
I have a yellow 02 with twice those miles, every receipt from every service, a record of each time I've put gas in the car, window sticker, all keys, etc. and while my car's not for sale, at north of 55k, I'd sell mine!!!! At south of 55, NFW. My car's a "keeper". If you can afford to pay the asking price, the PPI proves positive, by a qualified "inspector", and you're willing to pay that price, than that's what it's worth!!! It's a balancing act between a car that's no longer being made, and prime low mileage examples becoming more scarce. The fair market value in my opinion should be somewhere between 48-55k, depending on how quickly the seller wants to move the car.
If it were me Id do $55k and happily wait. I def wouldnt do 49k. 49k would be a fire sale and when Im buying, I NEVER seem to find those so I make sure I *definitely* dont provide them 
TB/WP up to date is a very big deal. 02+ is a very big deal. 28k miles is 3k per year roughly... Thats very low. 22k vs 28k doesnt make a giant difference.
If that car is as represented, wait for the right buyer unless you are horribly desperate to sell. If the latter, check dealers and auctions.
I have a couple of Ferrari friends recently get tired of "bad market" low ballers and just go to a dealer and actually get MORE than people were offering.
The NSX is rare and is mainly a collectors car on the high end at this point (on the lowest of the low end, its still a "dreamer" car, but NOT on the high end and never was). There are NEVER a ton of buyers on the high end. The real buyers for an 02+ have actual money and while some may be out of the market now, many are not.
Its never going to be quick selling a newer NSX, and I think it always pays to hold out for a serious buyer rather than someone looking to take advantage of you because you are selling in a "down market".
TB/WP up to date is a very big deal. 02+ is a very big deal. 28k miles is 3k per year roughly... Thats very low. 22k vs 28k doesnt make a giant difference.
If that car is as represented, wait for the right buyer unless you are horribly desperate to sell. If the latter, check dealers and auctions.
I have a couple of Ferrari friends recently get tired of "bad market" low ballers and just go to a dealer and actually get MORE than people were offering.
The NSX is rare and is mainly a collectors car on the high end at this point (on the lowest of the low end, its still a "dreamer" car, but NOT on the high end and never was). There are NEVER a ton of buyers on the high end. The real buyers for an 02+ have actual money and while some may be out of the market now, many are not.
Its never going to be quick selling a newer NSX, and I think it always pays to hold out for a serious buyer rather than someone looking to take advantage of you because you are selling in a "down market".
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what is honda's recommendation about when to replace TB/WP? Is it 70-80k miles? seems like more and more NSX's have the TB/WP replaced much earlier than 70k miles. Mine was replaced at around 32k miles when I bought it, I think. Is there a reson why?
Yellow's come up for sale all of the time. When I was searching for my Imola I came across a ton of yellow listings for 2002-2005 cars.
Don't be in a rush to buy if its the only one around....but anything less than $54k would be a deal.
I purchased my 2005 Rio Yellow/Black in October 2009 with 16,000 miles (now at 20,000) for $56,000. The car was as close to mint as you will ever find and I am the third owner. My preference was for a white, Imola or blue. After seeing and buying the yellow, I've never regretted the color choice, it is stunning but also practical. With as many distracted drivers out there (texting, phones, etc.)
I believe there is an advantage to having a highly visible vehicle (perhaps not so much if you are speeding).
As far as being an investment it's a bit iffy but you never know.A lot of the components are in place. And most "investments" carry a risk. The car that I sold to buy my NSX I bought for $1500 in 1976 not as an investment but as a fun car to own and drive (1959 Porsche Cabriolet). Finding any examples under $100,000 now is nearly impossible. So you never know.
BTW I would not part with my NSX for the $56,000 I paid for it!
I believe there is an advantage to having a highly visible vehicle (perhaps not so much if you are speeding).
As far as being an investment it's a bit iffy but you never know.A lot of the components are in place. And most "investments" carry a risk. The car that I sold to buy my NSX I bought for $1500 in 1976 not as an investment but as a fun car to own and drive (1959 Porsche Cabriolet). Finding any examples under $100,000 now is nearly impossible. So you never know.
BTW I would not part with my NSX for the $56,000 I paid for it!
I agree 100% with NSXFTW!
What people are asking for 2002-05 cars and what they are really worth is two different things in my opinion.
If you go to Kelly Blue Book, you will see they list these cars in the $60 to $75k range. This is very misleading for a good, honest seller as they believe they are sitting on a gold mine. After seeing this, they list their cars for $65k plus but they sit, and sit and sit.
As an example, there is a 05 7k miles red NSX that has been on about every seller's website (Cars.com, Autotrader, Craigslist, Ebay, etc.) for well over one year. Sure it is super low miles (7k), but they are asking $74k. The flooring fee on this car has got to be killing them as it is normally 2% to 3% monthly! While they could have realistically sold the car 12-18 months ago for $60k, they must be so upside down in flooring fees now that I am not sure $74k would be a break-even for them anymore. If they own the car outright, imagine what they could have done with that money over the past year. There are a lot of very attractive investments out these due to the economy!
To make things more difficult for the seller's of these "$60 to $75k" cars is financing is almost impossible to locate nowadays; especially for a 6 to 9 years old vehicle. I have called on many of these low mile 02-05 NSXs and informed the seller I have cash. Doesn't seem to interest them as many honestly believe that if they hold out, they will eventually get the big money for their car. There is a NSX out there I would be interested in but the seller wants $70k+. Gorgeous car, super low miles, but I don't think it will ever happen! I mean that is big, big money in these times!
As a former owner of a Kawasaki, Can-Am, Artic Cat Dealership, I can assure you that the longer a car sits, the more it costs the dealer to unload it. Stubborn dealers who think they have something special on their lot quite frequently take a bath on them since they ask for "all the money." This is something I saw over and over in the business and could never understand.
My opinion...and my opinion only, $52k is the absolute max on this car!
For some unknown reason, it seems to me like sellers of 1991-01 NSX's list their cars for reasonable prices and these cars seem to move much quicker.
What people are asking for 2002-05 cars and what they are really worth is two different things in my opinion.
If you go to Kelly Blue Book, you will see they list these cars in the $60 to $75k range. This is very misleading for a good, honest seller as they believe they are sitting on a gold mine. After seeing this, they list their cars for $65k plus but they sit, and sit and sit.
As an example, there is a 05 7k miles red NSX that has been on about every seller's website (Cars.com, Autotrader, Craigslist, Ebay, etc.) for well over one year. Sure it is super low miles (7k), but they are asking $74k. The flooring fee on this car has got to be killing them as it is normally 2% to 3% monthly! While they could have realistically sold the car 12-18 months ago for $60k, they must be so upside down in flooring fees now that I am not sure $74k would be a break-even for them anymore. If they own the car outright, imagine what they could have done with that money over the past year. There are a lot of very attractive investments out these due to the economy!
To make things more difficult for the seller's of these "$60 to $75k" cars is financing is almost impossible to locate nowadays; especially for a 6 to 9 years old vehicle. I have called on many of these low mile 02-05 NSXs and informed the seller I have cash. Doesn't seem to interest them as many honestly believe that if they hold out, they will eventually get the big money for their car. There is a NSX out there I would be interested in but the seller wants $70k+. Gorgeous car, super low miles, but I don't think it will ever happen! I mean that is big, big money in these times!
As a former owner of a Kawasaki, Can-Am, Artic Cat Dealership, I can assure you that the longer a car sits, the more it costs the dealer to unload it. Stubborn dealers who think they have something special on their lot quite frequently take a bath on them since they ask for "all the money." This is something I saw over and over in the business and could never understand.
My opinion...and my opinion only, $52k is the absolute max on this car!
For some unknown reason, it seems to me like sellers of 1991-01 NSX's list their cars for reasonable prices and these cars seem to move much quicker.
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yes, i figured $50-$55k at the max. Most buyers of exotic / collector cars over 10 years old pay cash as these tend to be weekend cars. Like the old saying goes, if you cant pay for a toy in cash then you cant afford it. I think the 2002-2005 years tend to bring out the collectors more as this is the last gen NSX. Also these type of cars tend to take up to 6 months to sell, I had a 1997 Porsche 911 that took me 6 months to sell but I did get my asking price as I found the right buyer.
What they are listed on Autotrader for and what they actually sell for is way different.
Here are a couple of recent sales:
2002 - 35k miles, 49k (listed for 56)
2003 - 20k miles, 55k (listed for 57)
2004 - 36k miles, 53k (listed for 60)
Depends on your location... getting a car to CA, where demand is higher for these kinds of cars (since the car is useable year round), cost a lot of $$.
Here are a couple of recent sales:
2002 - 35k miles, 49k (listed for 56)
2003 - 20k miles, 55k (listed for 57)
2004 - 36k miles, 53k (listed for 60)
Depends on your location... getting a car to CA, where demand is higher for these kinds of cars (since the car is useable year round), cost a lot of $$.
I agree that it depends upon the car/color/mods and condition. On some
2002's expect to pay $50K while others may press as high as $60K.
2002's expect to pay $50K while others may press as high as $60K.
Rob4092xx: Let me first say what's big money to you is pocket change to others. Ever watch those auction shows on TV? People pay outrageous sums of money for cars and happy to spend it.
I'm not saying $80k is chump change but if you have $60k to spend on a car, then $80k is not a far stretch. If you are counting pennies to buy a $60k car perhaps you should not be buying one in the first place. Cars are always an emotional purchase so if I was retired and wanted a specific car - I would just buy what I want as you only live once.
Almost ever car I buy these days is cash only or I don't buy it. Sucks to pay interest!
To the OP: I would say your car is worth $55-58k depending on how well you market the car. I've seen great cars sell for less money because the seller did not take good pictures and I've seen lesser cars sell for more too. It does not matter what 100 people say your car is worth - all it takes is that 1 person to write the check. If you are patient you will get your money no matter what you ask is my experience.
I sold my 2002 e46 m3 (had over $100k in there at one point) a few years ago for $42k....dealers were trying to offer me $17k in trade... LOL All those people that told me I was dreaming was speechless
rick
I'm not saying $80k is chump change but if you have $60k to spend on a car, then $80k is not a far stretch. If you are counting pennies to buy a $60k car perhaps you should not be buying one in the first place. Cars are always an emotional purchase so if I was retired and wanted a specific car - I would just buy what I want as you only live once.
Almost ever car I buy these days is cash only or I don't buy it. Sucks to pay interest!
To the OP: I would say your car is worth $55-58k depending on how well you market the car. I've seen great cars sell for less money because the seller did not take good pictures and I've seen lesser cars sell for more too. It does not matter what 100 people say your car is worth - all it takes is that 1 person to write the check. If you are patient you will get your money no matter what you ask is my experience.
I sold my 2002 e46 m3 (had over $100k in there at one point) a few years ago for $42k....dealers were trying to offer me $17k in trade... LOL All those people that told me I was dreaming was speechless
rick
Which 04. Mine was for 60k but i paid more than 53k for it....
Yours is supercharged.
I feel like I overpaid a bit. I have an 03 that I bought in the early fall of 2010. I paid 53K but mine had 41K miles on it.
If it makes you feel any better, my 02 has over 56k miles on it, and I wouldn't "let it go" for 53K:biggrin:
