How much do you have to make year/salary to own NSX?
-
Protip: Profile posts are public! Use Conversations to message other members privately. Everyone can see the content of a profile post.
How much do you have to make year/salary to own NSX?
- Thread starter DC5 Kid
- Start date
- Joined
- 10 April 2001
- Messages
- 662
http://www.nsxprime.com/ubb/Forum9/HTML/000212.html
http://www.nsxprime.com/ubb/Forum9/HTML/000243.html
[This message has been edited by Forums Nazi (edited 11 December 2001).]
http://www.nsxprime.com/ubb/Forum9/HTML/000243.html
[This message has been edited by Forums Nazi (edited 11 December 2001).]
I guess it would depend on the NSX, wouldn't it?
You could get one for $25K or a new one for $80K-ish.
It also depends on your other expenses too.
-Jim
------------------
1992 NSX Red/Blk 5 spd #0330
1991 NSX Blk/Blk Auto #3070 (Sold)
1974 Vette 454 4 spd Wht/Blk
Looking for 76-79 Honda Accords
You could get one for $25K or a new one for $80K-ish.
It also depends on your other expenses too.
-Jim
------------------
1992 NSX Red/Blk 5 spd #0330
1991 NSX Blk/Blk Auto #3070 (Sold)
1974 Vette 454 4 spd Wht/Blk
Looking for 76-79 Honda Accords
I am Systems Manager...currently at 21 yrs old I own RSX Type S..i guess it's not bad to own RSX Type S at 21. So what you guys nSX OWners monthly payments are like?
[This message has been edited by DC5 Kid (edited 11 December 2001).]
[This message has been edited by DC5 Kid (edited 11 December 2001).]
The question you are asking is really open ended with so many variables that are not constant. Some people on the board probably bought their car new and payed everything up front. Some might've financed it or leased it. The same can be said for a person buying it used, in which the price is also a variable factor. There is also interest rates and credit ratings when it comes to financing or leaseing a car. The down payment comes into play as well. I think you need be more specific in what you are asking. Something like, "If I was to finance a new NSX with $XX,000 down for XX months and taking into account current interest rates and personally having an excellent credit rating, what would be a good monthly payment."
here's my info:
Age 21
Insurance (Full coverage) 80/month.
No payments. Paid cash.
Age 21
Insurance (Full coverage) 80/month.
No payments. Paid cash.
RyRy is correct.
For example how much salary do you need to support a wife and kids, own $500k home, a 56ft boat, summer home outside of Rome, $5k vacations and drive an NSX versus being single, living at home or renting with no other financial commitments (not to say this is what you are doing)?
So since you're close to the same age as my son you're forcing me to answer like a father. I hate it when that happens...
At your age the worst thing you can do is get into a financing commitment that doesn't build financial wealth. I've seen many people spend and never save. They wonder why I can afford the things I do now and they can't. Go see a financial planner and work out a plan where you can "own" an NSX some day along with meeting the financial needs you're going to have some day.
Or just save 10% of what you make for the future, try to put a few bucks away for a fun vacation every year, if you don't own a home then sock away as much as you can then if anything is left maybe put it towards owning an NSX by saving it too.
BTW a few young owners here did exactly this and paid for their cars with hard cold cash. Very impressive young adults.
If you have to ask, you can't afford it.
These guys are just giving you a hard time, the answer is: $48,312.22 per year
Cost of being a smart alec: Priceless
Obviously more specific information would be required to answer your question. It is amazing to me what some people will spend the majority of their income on.
When I was 16 I worked delivering pizza and there was another guy who worked with me. One day he came in with a new IROC! He spent over 18K on it and made about 15K per year. Ninety percent of his income went toward the car payment and his insurance. He sold the car in a few months and took a huge loss. It was quite obvious to everyone except him that he couldn't afford the car. Try and use your best judgement and you should be OK.
Good Luck!
[This message has been edited by Carguy! (edited 11 December 2001).]
Cost of being a smart alec: Priceless
Obviously more specific information would be required to answer your question. It is amazing to me what some people will spend the majority of their income on.
When I was 16 I worked delivering pizza and there was another guy who worked with me. One day he came in with a new IROC! He spent over 18K on it and made about 15K per year. Ninety percent of his income went toward the car payment and his insurance. He sold the car in a few months and took a huge loss. It was quite obvious to everyone except him that he couldn't afford the car. Try and use your best judgement and you should be OK.
Good Luck!
[This message has been edited by Carguy! (edited 11 December 2001).]
I'm 18 and own a web business.
Insurance: $470/month (ouch!)
Payments: $817/month (I'd like to have it paid off soon, though)
Then again, I still live at home and my only expenses aside from business are said car and my current recording project.
Insurance: $470/month (ouch!)
Payments: $817/month (I'd like to have it paid off soon, though)
Then again, I still live at home and my only expenses aside from business are said car and my current recording project.
Paid Cash $40K for a 94 Blk/Tan With 40K Miles, I didn't want to have a payment for a weekend driver 2nd car. If you decide to buy one make sure you can afford it, you don't want to end up "car poor"
Ok I realize this is very very general BUT...
I read somewhere that the average price of a car a person buys is about half their yearly salary.
So if you make $100k, and live within your salary range expenses, you could "comfortably" probably afford a $50k car. Based on this, if you make $70k, you can afford a 91-94 NSX, $100k=95-97 NSX, and I guess you shouldn't be buying new unless you make $150k.
I'm curious to see how this formula works out for the group here. For me, the formula says I couldn't afford mine at the time I bought it.
I read somewhere that the average price of a car a person buys is about half their yearly salary.
So if you make $100k, and live within your salary range expenses, you could "comfortably" probably afford a $50k car. Based on this, if you make $70k, you can afford a 91-94 NSX, $100k=95-97 NSX, and I guess you shouldn't be buying new unless you make $150k.
I'm curious to see how this formula works out for the group here. For me, the formula says I couldn't afford mine at the time I bought it.
That last statement is not true.
I make about $200K per year and drive a $14K Honda Civic.
My cousin makes $10/hr ($20K) and drive a $35K BMW 325Ci.
It depends on too many factors.
I did once read somewhere that the average NSX owner earns in the neighbourhood of $200K.
I make about $200K per year and drive a $14K Honda Civic.
My cousin makes $10/hr ($20K) and drive a $35K BMW 325Ci.
It depends on too many factors.
I did once read somewhere that the average NSX owner earns in the neighbourhood of $200K.
I'll hope that is backwards-compatible.............
- Joined
- 4 September 2000
- Messages
- 213
This discussion illustrates something I've pondered for some time now -- and it really boils down to just how focused a person is on getting into an NSX (or any other car they dream about).
If you consider a car to be a necessary evil, then you buy a civic and put the rest of your money away to compound. If you consider a car to be a fun distraction to drive on the weekends, you put your money away and let it compound until you can buy the car with cash.
However, at least for me, buying a cool car has never been a rational decision; it ranks just under food and right above shelter on my needs list. I can't imagine being a dyed-in-the wool car guy and waiting until I was sixty so that I could "afford" the object of my desire. I once read about a guy who wanted a Porsche so much that he applied for numerous credit cards, cash advanced them all, then used the proceeds to buy the car. Now that's what I call focus! (Foolish, yes, but focused).
My formula is a simple one; take your income, subtract food expense, buy the car of your dreams, and let the rest take care of itself.
In the meantime, get a good education, get a job that you love and that pays well, and never let intelligence get in the way of a sports car purchase.
If you consider a car to be a necessary evil, then you buy a civic and put the rest of your money away to compound. If you consider a car to be a fun distraction to drive on the weekends, you put your money away and let it compound until you can buy the car with cash.
However, at least for me, buying a cool car has never been a rational decision; it ranks just under food and right above shelter on my needs list. I can't imagine being a dyed-in-the wool car guy and waiting until I was sixty so that I could "afford" the object of my desire. I once read about a guy who wanted a Porsche so much that he applied for numerous credit cards, cash advanced them all, then used the proceeds to buy the car. Now that's what I call focus! (Foolish, yes, but focused).
My formula is a simple one; take your income, subtract food expense, buy the car of your dreams, and let the rest take care of itself.
Whether or not you can afford an NSX alldepends on what money is saved after rent, food, bills, etc per month. You can have a $100K a year salary, but if you only save like 1000 bucks a month, then you can only afford so much on payments. Likewise you can have a 50K a year salary, but if you still are able to save 1000 bucks a month, you can afford the same as the person with the 100K a year salary.
Note: You know, if you just buy the NSX and live in it, imagine how much you would save on rent every month! Maybe about 400-800 bucks a month? Thats some serious money!
Note: You know, if you just buy the NSX and live in it, imagine how much you would save on rent every month! Maybe about 400-800 bucks a month? Thats some serious money!
Hear Hear !!! DEH ! Great post. I agree about the intelligence part. My wifes first words when I told her I was buying an NSX were "but it's not a practical car". My response was "huh ??"
Tell her it can hold 2 sets of golf clubs and groceries for a week. What else do you need? BTW how many other sports cars can carry 2 sets of golf clubs in the trunk?
Note: You know, if you just buy the NSX and live in it, imagine how much you would save on rent every month! Maybe about 400-800 bucks a month? Thats some serious money!
I think someone trying this would tend to smell pretty bad after a while. It would lower the resale value of the car as well.
I think someone trying this would tend to smell pretty bad after a while. It would lower the resale value of the car as well.
I'm 17, just got my driver's license. Bought the NSX with drug money(mostly weed) that I earned through out 4 years of high school. Just started to sell coke, shooting for a 360 Modena early next year. It's good money. My pager number is (510)642-6786. Give me a beep when u got the need.
------------------
G Dummy
------------------
G Dummy
damn..how did you guys get such loan payments...my supra payment is 620 a month for a four year loan (thats all they would give me for that old of a car) and my insurance is about 120 a month. Who do you guys go through for insurance?
I really don't think you need to make a lot of money to own a NSX. $30,000 is not much more than a $24000 RSX. I pay about $250.00 a month for my 94 NSX. I just think you have to know what your doing car wise. If I wanted a NSX I wouldn't buy a RSX. I would buy a cheap car that I didn't have to make payments on. Then I would save the money I would be paying for car payments. When I had enough to be able to afford the payments on a NSX I would buy it. One year of $300. car payments is $3600. I have seen 91 NSX's selling for $27000. before. Just common sense, don't go buy the most expensive car you can afford. When you buy brand new cars you do nothing but LOSE money. You won't be able to save any money for the car you really want this way.
Similar threads
