Barn find NSX salvage title, advice please!

[Bryce]

Hello everyone! I found my dream car hiding in a shed where it has been for the last 3 years. This owner has had the car for nearly 20 years, he has put 5k miles total in that ownership.

1992 Black NSX 5-speed with 30k miles.

I ran a car fax, the car was in a rear quarter accident in 1999 enough to total it. So the car has a prior salvage, but now clean title.

If after I drive it, and inspect it closely, assuming everything works as it should is 35,ooo$ a good deal for this car?

 

[RSO 34]

Simple answer: no

 

[mrtexas]

Could be. Maintenance up to date? You intend on keeping it for a while? Salvage title with proper repair could be OK to drive. Resale will suffer however but must be bought for a low price.

 

[Bryce]

Simple answer: no

Can you elaborate please so I can understand?

What price would make it worth while?

 

[Bryce]

Could be. Maintenance up to date? You intend on keeping it for a while? Salvage title with proper repair could be OK to drive. Resale will suffer however but must be bought for a low price.

I would plan on keeping it for a few years, maybe longer. Maintenance I would imagine has suffered from the car sitting for so long. How bad is resale on salvage NSX's? I found it very hard to estimate a value on one with a salvage title.

 

[Bryce]

Vin: Jh4na115ont000216

 

[Jinks]

I just auctioned a pristine car with a salvage title and a fully built motor with a brand new supercharger and it sold for 36k. This is a crack pipe... Walk....

 

[Hass]

^ Yours also had minimum $10k in damages.

i would walk bc of the maintenances that are needed with “barn finds”. Water pump+hoses+ all rubbers and gaskets+ possibly brakes etc.

if it’s non salvage obviously yes

 

[Hass]

Vin: Jh4na115ont000216

That VIN is no good. Maybe it’s Jh4na1150mt000216?

 

[Jinks]

^ Yours also had minimum $10k in damages.

i would walk bc of the maintenances that are needed with “barn finds”. Water pump+hoses+ all rubbers and gaskets+ possibly brakes etc.

if it’s non salvage obviously yes

When my car was sold, it was well sorted. This car is not. but I can understand your point. This car I would run from. The hood doesn't even line up.

 

[Bryce]

That VIN is no good. Maybe it’s Jh4na1150mt000216?

Yup you are correct.

 

[DocL]

My cousin just sold his pristine 1991 with 36k one owner NSX for $47k. This one is worth mid $20s at most.

 

[Jinks]

My cousin just sold his pristine 1991 with 36k one owner NSX for $47k. This one is worth mid $20s at most.

It ain't my money...:biggrin:

 

[nis350]

good price for the buyer...

My cousin just sold his pristine 1991 with 36k one owner NSX for $47k. This one is worth mid $20s at most.

 

[Lude_2_NSX]

I wouldn't pay more than $30K. Likely alot of deferred maintenance that will need to be done. Belts, hoses, tires, anything rubber... If you are up for doing the work yourself, and plan to keep it for a long time, AND are ok with taking a risk on resale, it may be a a good project for you. But like I said, I wouldn't pay more than $30K. Expect to put $5K in it the first 6 months before really driving it anywhere...

 

[Honcho]

My cousin just sold his pristine 1991 with 36k one owner NSX for $47k. This one is worth mid $20s at most.

I wouldn't pay more than $30K. Likely alot of deferred maintenance that will need to be done. Belts, hoses, tires, anything rubber... If you are up for doing the work yourself, and plan to keep it for a long time, AND are ok with taking a risk on resale, it may be a a good project for you. But like I said, I wouldn't pay more than $30K. Expect to put $5K in it the first 6 months before really driving it anywhere...

Good advice here. No more than $25k and assume $5k to refresh all the rotted rubber bits (if you DIY). I'd also have someone who really knows NSX body work take a close look at the rear quarter repair to ensure this car can be safely driven before any money changes hands. If it's got a frame issue, that could cost another $25k to address.

 

[Sulley]

It's all been covered by others about hidden damage, required maintenance and your ability to do the work yourself.

Times must have changed. In the past, folks would have been much more concerned with the "washed" title.

 

[Old Guy]

A bit late to the party; but, the excellent current market analysis by RacerXwing puts the midpoint value for an na1 coupe with 30,000 miles at $57k. That is for a clean non salvage title. Assuming that the repairs were done satisfactorily, you would have to estimate / take the risk of the impact on selling price of a salvage title if you were thinking that you want to recover your costs in a couple of years.

http://www.nsxprime.com/forum/showthread.php/199875-Gen1-NSX-Current-Market-Analysis

Does the car currently run (non running would be a big no go issue for me unless I was looking for a restoration project)? If the oil is 20 years old, perhaps you don't want to risk running the engine! Is the paint and body (notwithstanding accident repair work) in good condition and what is the interior like? The seller apparently has made no effort to present the car to encourage sale. That would suggest a high probability that the maintenance is really out of date.

The asking price is at a significant discount to the current mid point value for a vehicle of this mileage. The asking price might make the car a good deal. That would depend on:
- the body repair being satisfactory
- general condition of the car (can't tell anything from the photo)
- what you think the price discount is for a salvage title
- what the costs are for the deferred maintenance.

So maybe yes, maybe no on the 'good deal'. As a minimum you need a competent PPI to establish the potential maintenance costs and you need to figure out what the 'market discount' is of a salvage title. Everybody knows that the salvage title or a history of major body repair has an impact on selling price and everybody probably has an opinion on the magnitude of that impact. You are going to have to suss that number out on your own. Some people wont even touch a car with a salvage title.