How many people paid Cash vs Financed? NA1 vs NA2

[doc_tai]

cash on 91

 

[Eisbaer]

I think this thread is useless and inaccurate.. what's the point?

 

[Patricio]

I agree, but that isn't what I said... the median household (not average) has $71K in liquid assets and earns $44K/year. That means that Joe Median could buy almost any NSX outright, if he wants to blow his wad on a car. I also means that he is unlikely to obtain financing on that $80K car since he has a low income. What that tells me is that most American's can buy the car with cash, but not finance it. Of course, NSX owners are probably in a much higher socioeconomic class than Joe Median, but that's what the numbers say for the masses.

If that is a fact, then show the data that qualifies it, and please don't use the bogus "savings" numbers our gov't prints. I find it very hard to believe that most American's live paycheck-to-paycheck, but that doesn't mean they don't, I just find it very hard to believe. I welcome the data that shows me otherwise.

Anyhoooooo... I think there is truth to both of our perspectives. My observation is that the ownership crowd is getting younger, but I have a very short time frame that I'm basing that off of. The simple fact that I fall back on is that young people have much more purchasing power than we did 10 years ago (real wages have outstripped inflation), and the car's value has declined at a faster clip than that wage increase. The information age has been extremely dis-inflationary and made many young entrepreneurs, and their colleagues, very wealthy. Young people have more real wealth than they ever have had in the past and the NSX is less expensive than it has ever been (inflation adjusted).

All that aside, I agree with what you say about financing being more difficult. I just don't believe that holds back NSX ownership to the extent that you do... I could be wrong. :smile:

Ok I see what your saying I guess where only disagreeing on the extent of the difficulty of financing.

But your first example of someone making 44k yr does not factor in even minimal living expenses. no one on this earth makes 44k/yr and has even half of it left at the end of the year.

I guess what I'm trying to show is that anyone regardless of age has to be mature enough to make the proper career / saving / credit / responsibility , decisions, that could automatically qualified as mature individual before becoming a NSX owner. There are no immature ricers capable of financing a 30k OLD car. They would have to mature to above average financial stability first. Therefore not endangering the quality of NSX owners as mentiond constantly on Prime.

 

[nsxman2001]

Has this topic come up just a few weeks ago? Oh well, Paid Cash and drove away with the 93 NSX. Now, I'm paying more cash on the mods.:tongue:

did the same thing but my car is a 96

 

[redshift]

But your first example of someone making 44k yr does not factor in even minimal living expenses. no one on this earth makes 44k/yr and has even half of it left at the end of the year.

Those are the numbers that lady liberty puts out into the public. The numbers say that people making $44k/yr ALSO have $70K in cash or equivalents in the bank. It doesn't say anything about age, but cost-of-living is obviously netted out in the relationship since we're talking median values. I do agree that $44K seems like poverty in my area (which in itself sounds pretty pompous), but America gets by better than any other country in the world with just that.

... [New owners are] not endangering the quality of NSX owners as mentiond constantly on Prime.

I couldn't agree more!

 

[96 NSX-T]

Paid cash for my '96 in '03.

 

[synergyaw]

paid cash for na1 few month ago.