Now is the time to buy an NSX!

[Jetpilot3]

I can't believe all of the NSX deals out there on +02 models! Don't get me wrong I'm happy to have bought my Imola but the recent decline in re-sale value is startling to say the least...perhaps I should have waited?

Many great examples of late model NSX's with low-medium mileage here:

Silverstone 03 $52k:
http://www.nsxprime.com/forums/showthread.php?t=114783

Red/Tan 02 $45k:
http://www.nsxprime.com/forums/showthread.php?t=114576

Yellow/Yellow 03 $50k:
http://www.nsxprime.com/forums/showthread.php?t=107152

Imola Orange/Orange 02 $52k:
http://www.nsxprime.com/forums/showthread.php?t=113792

And these are just here on Prime I haven't even started on about www.autotrader.com

 

[ffffanman]

yes, If I didn't have mine and also armed with all the info i now have on the car, and all the money I have now........ It would be great.
Yellow or Orange for me.
Trev

 

[Ponyboy]

I know...I know. Been thinking about dipping into savings and getting a second NSX. It's tempting.

But there are a ton of good deals on all kinds of cars right now.

 

[pgilliam1]

The purchasing costs of these cars going down has got to be the only bright spot in this recession. Picked mine up a month ago and still smiling. Had no intention of buying it but made the mistake of test driving it. Sold my BMW the next week.

 

[warrenw]

I would have to agree that the prices and choices have never been better.
If I could find that '01 GPW with black interior, I would oh, be so tempted.

For a Canadian, the prices today are not as good as a year ago to import a car from the US. Somehow the US dollar continues to have strength. I am hoping that this summer when OIL prices rise again, the Canadian / US dollar will return to near par rates, and then there may be even more cars available, just because it's summer.

For an example: This very sweet car:
Imola Orange/Orange 02 $52k:
http://www.nsxprime.com/forums/showthread.php?t=113792
Today, this car would cost CDN$73,000 to import into Canada. Exchange, Duty 6.2% and 5%GST
but
With a par dollar, CDN$58,000.

On the flip side, with the high US dollar, my present NSX has gained Canadian value because there are very few low cost NSXs coming into Canada from the US.

So it is all good.

 

[goldNSX]

Not willing to be pessimistic but at first there are cars put up for sale that would not have been sold under other circumstances, at second the market 'overflow' will lower prices. The second step is not fully in effect by now IMO. :wink:

 

[7SINS]

From my research and closing bids on ebay, na1's haven't been hit nearly as hard. They are still roaming in the high 20's low 30's with the occasional mid-20s auto 91 sale.

The exotic car market has taken a beaten. You can find an 06 Aston Martin Vantage for less then 80k with sub 2000 miles and a warranty. I remember looking at them at the dealership, they wanted 120k for a used 07 a few months ago.

 

[Mark S]

Not willing to be pessimistic but at first there are cars put up for sale that would not have been sold under other circumstances, at second the market 'overflow' will lower prices. The second step is not fully in effect by now IMO. :wink:

If I understand your post correctly you are 100% correct, you ain't seen nothin yet. The 1'st half of 09 will be a blood bath and sellers that don't go with the market will be sitting on their pride and joy a very LOOOOOOOOOOOONG time. Even if they go with the market a very LOOOOOOONG time or not at all. Buyers with CASH will cherry pick :biggrin: . It will happen to ALL makes and models.

 

[goldNSX]

If I understand your post correctly you are 100% correct, you ain't seen nothin yet. The 1'st half of 09 will be a blood bath and sellers that don't go with the market will be sitting on their pride and joy a very LOOOOOOOOOOOONG time. Even if they go with the market a very LOOOOOOONG time or not at all. Buyers with CASH will cherry pick :biggrin: . It will happen to ALL makes and models.

+1, especially 'expensive' (to buy or maintain) cars or 'toy-cars' will suffer heavily...

 

[dxd]

+1, especially 'expensive' (to buy or maintain) cars or 'toy-cars' will suffer heavily...

Agreed. The phrase "Cash is King" will never be more obvious than in the coming 6 - 12 months. I am in the REO business and I can tell you first hand that the picture is getting uglier by the week. There will be amazing opportunities in Real Estate coming up soon as well as the stock market. Luxury cars will always get slaughtered in a deep recession. The only reason I purchased mine was due to the color and low miles. Gallardos will likely be selling in the $80,000 range within the next 12 months. Might think about about picking up another NSX or a Gallardo in the spring/summer when the economy will be feeling the full effects of the crisis at hand....

 

[goldNSX]

Just wondering: How much is the percentage of financed cars (credit or leasing or...) in comparison to paid cash in the US? It's about 50% over here.

dxd: What is REO business?

 

[Mark S]

Just wondering: How much is the percentage of financed cars (credit or leasing or...) in comparison to paid cash in the US? It's about 50% over here.

This is nothing more than a guess so take it for that. In the US auto's 80% financed/leased, 20% cash. WE are a nation of credit and it just came back to bite us in the ass. Per good ole rev Wright "the chickens have come home to roost".

 

[dxd]

Just wondering: How much is the percentage of financed cars (credit or leasing or...) in comparison to paid cash in the US? It's about 50% over here.

dxd: What is REO business?

"REO" stands for "Real Estate Owned" which is a bank foreclosure. I sell REO's in San Diego County for a large US bank.

 

[goldNSX]

There's a higher proportion of 02+ cars for sale than 91-01 on autotrader.com.

dxd: Thanks for the explanation.

 

[ImolaOrange03]

"REO" stands for "Real Estate Owned" which is a bank foreclosure. I sell REO's in San Diego County for a large US bank.

I'd sell my car if I was in the market to buy a foreclosure home. But other than that, I'm keeping it.

 

[Jetpilot3]

ditto.

 

[MAJOR STONER]

My local dealer has a blue 1999 w/55K miles for $36,000.

 

[ISONSX]

I know...I know. Been thinking about dipping into savings and getting a second NSX. It's tempting.

But there are a ton of good deals on all kinds of cars right now.

Shawn,
I've had passing thoughts about selling mine and moving to a 360 or Gallardo if you are truely interested in a 2nd. I'll catch up with you soon.

 

[oscar_driver]

and I thought i got a good deal on my 97 .. crap .. a bit more and could be rolling on a 02-05 ... arghhhhh
OScar

PS: Still i couldn't be happy with my NSX

 

[93B18]

I agree. If you look across the board, items like these are luxury and are taking big hits. At this time cash is king and everybody's tucking it under their bed until market confidence returns.

Gallardos on the market in the 80s, 996 TTs in the 40s, MB SLs, 430/360s, you name it. People needing to liquidate will desperately need to lower their prices to sell. Wait till 09.

 

[goldNSX]

If all people are waiting for things becoming cheaper then the economic depression is on it's way.

 

[Energy1]

"Gallardos will likely be selling in the $80,000 range within the next 12 months"
Some already are, higher mileage, un popular color, questionable maintenance, early production, you get what you pay for ....

 

[ISONSX]

"Gallardos will likely be selling in the $80,000 range within the next 12 months"
Some already are, higher mileage, un popular color, questionable maintenance, early production, you get what you pay for ....

True. When I was buying the wife a new-to-us 2007 Escalade a month ago from a buddy that was the sales manager at the local high end dealer (Mercedes & Porsche), they had a 2005 silver Gallardo e-gear that they sold for low 70s. I can remember the exact amount but I want ot say $73K was thier high bid and they bid it out to something like 40 different places. Told me everyone told them this issue was the e-gear and associated problems with that. The car was very clean but not my color (yellow, like my NSX, is my preferred color for Gallardos).

 

[Ag NSX]

My local dealer has a blue 1999 w/55K miles for $36,000.

Can you PM the name and location of the dealer? I'm in the market for an NSX again!

 

[1992NSX]

There is a lot of truth to all of this. I bought my 92 Black NSX with 58k miles in mint condition about a year ago for $35k. I went to trade it yesterday for a 2006 CL65amg, and they offered me $21k to trade. I left disappointed. I thought I could get around $28k.