Short for Nick Specific. When your friend makes a purchase, normally a car, in very bad condition. The condition of the purchased item makes it just barely worthy of being in a trash can.
"did you see her car she just bought? It doesn't even have doors. That's a Nick Spec car."
Nick Davis is a pretty neat person but gets butthurt a lot. Nick is a really good friend and will always be there for you. He is a dad of 12 kids that are not even his. He also steals bagels so watch out.