Used Mirages overpriced?

One of my family members was debating the purchase of a Mirage for a simple commuter car by far it's much better to purchase new in our area New York used Mirages seem to be overpriced even if you use the typical car search engine it's indicated asking prices are high one example a new 17 Mirage ES can be had for around 10-11k but I see 2015's used with similar options for 9500.

As everyone knows trading a Mirage is a bad idea recently I heard someone traded a 14 DE Manual with 62k one owner, never hit, taken care of, proper services accepted $2900.

When we do distant searches the prices become better in the south or west.

I do not know if my family member will take the plunge but one thing I do know if it's decided it will be a new Mirage.

Buy new when it comes to low cost economy cars. A lot of cars in this category never get serviced properly. Talking general population not the very small amount on this forum who actually care about their cars.

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Originally Posted by DottandDolores

.....it's indicated asking prices are high one example a new 17 Mirage ES can be had for around 10-11k but I see 2015's used with similar options for 9500.

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What a used car dealership is asking versus what they will take are two different things. You can use your trade-in example as a rough guide to figure out what they actually gave for that used '15 ES. They may be asking $9,500, but with a little work I'd bet you could get that car for somewhere in the $7,000-$7,500 range.

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Originally Posted by DottandDolores

I do not know if my family member will take the plunge but one thing I do know if it's decided it will be a new Mirage.

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This is a good position to hold. With patience, a great deal will come along as opposed to needing a new set of wheels. One can wait for a bargain.

It reminds me of the phrase good, fast or cheap - you can't have all three.

The Mirage kinda breaks that rule. No, it's not fast, but you can get affordable, reliable transportation quickly as it is.

It's good, as in reliable.
It's fast, as in readily available.
There's little debating it's cheap...

Keep an eye on the market, and good luck! :)

Do you know what the fair market value is? Cant say its over or underpriced if you dont know the fair market value.

I personally never buy used anymore because people price items too high. They always start with "well I paid X amount!" Really annoying that people have no concept of depreciation and value.

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Originally Posted by Marklovski

Do you know what the fair market value is? Cant say its over or underpriced if you dont know the fair market value.

I personally never buy used anymore because people price items too high. They always start with "well I paid X amount!" Really annoying that people have no concept of depreciation and value.

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Completely agree. It's always, "Well, I bought it just six months ago and it only has 14,000 miles on it."

Yeah, but you overpaid in the first place and the car depreciated 25% the minute you drove it off the lot!