Originally Posted by
Black Nugget
Ninja Edit! I didn't even see the last comment when I hit 'quote'.
I really appreciate the advise on the Addison Avenue Financial. If things do look as if I'll be making a move towards and NSX I'll certainly look them up. You could of possibly just saved me a few percentage of interest, for that I'm a truly grateful! Especially with the fact that if I do move, it would be to the West Coast!
Another user on the board did tell me through private message that he contacted NFCU's Auto Loan Department and was able to pick up a 1994 Supra for $18,000 and a standard automotive interest rate for 60 months. Accord to the branch, that was not possible. I suspect that it might be similar to what you are saying, if they feel the vehicle is worth the amount they will loan the funds.
My last vehicle, a 2001 NSX-T sold for $52,500 - the total amount that I bought it for just 6 months prior. If my memory serves me correctly it took me approximately one month to sell it. However, it was a 2001 as opposed to a 1991, so banks were more willing to give an auto loan. Nonetheless, such an auto loan would have to go to someone with decent income and good credit. When it comes to a 1991 NSX, it would need to be similar situations - good credit and good income if not enough cash to cover the entire price of the vehicle.
Unlike a lot of other vehicles on the market, Honda/Acura released under 12k NSX's across the globe which truly helps it's resale value. My previous experience wasn't luck, it was the fact that this car doesn't depreciate. If you attempt to find a good condition 1991-1993 NSX you will find them going anywhere from $30-35k. That is low mileage and good condition with service records. The cheapest you will find is around the $27-28k, but that would be for much higher mileage in less the perfect condition.
Everyone in the World wants more money... if they can spend less and have more they would ask where you can sign up. While having a total outbound expense $600 less would be great, it wouldn't kill me to have that extra expense.
Glad to help out with the reference to Addison. I've been very pleased so far.
As for your last statement about it not killing you to spend $600+ a month on a car payment, dude, you don't own a house do you? I don't know a whole lot about you at all outside the forum, but I believe you're a little older than me if memory serves me correctly. What's your current housing situation if you don't mind my asking? I'm not trying to get too personal, but I'm not a mission of enlightenment for you.
It would be silly to park your $50,000 NSX in an apartment parking lot.. or in front of your parents house. It would make a lot more sense if you had a garage of your own, attached to a home that you own, to park the NSX in. If you're renting, leasing, or living with friends/family, I will fight you to my grave trying to talk you out of buying one!