Fummins (01-03-2023)
My first Mirage literally saved my butt. I had 0 credit and driving rusted out Geo Metro cars and a rotten 4x4 truck. New years eve 2016/2017 the truck trans went out. I see all my Geo members buying the new Mirage and raving about them. I considered the $400 a month in gas I was dumping in my truck would cover a car payment, but had 2 repos and zero credit. All I needed was a chance.
Mitsubishi got me financed for my very first new car! I paid very high interest, but I knew it's reliability and fuel savings would be worth it. After paying off the 2017 and never late or missing a payment, I was immediately approved for a new car with low interest.
I could have literally bought any new car or truck I wanted, but I am a smart man and already knew what I wanted and got what I wanted in my garage right now.
Fummins (01-03-2023)
Nice silver G4 BE! Congratulations!
Johnny Mullet (01-02-2023)
During our first two years of marriage & before our first daughter was born, we paid off all of our student loans. We bought very affordable vehicles (Plymouth Colt Wagon/Ford Festiva) & paid them off. We also saved 20% of our first house down payment. My wife was a couple years older than me, & she had some money saved up that helped make all this happen, too.
Some may have looked down on someone who drove a $5,300 Pop Yellow Ford Festiva that didn't even come with a radio back then, but I didn't care. My wife quit teaching & stayed home for 8 years to raise our daughters (until my youngest started school). I really think they benefited from that (both graduated co-valedictorians of their graduating class). I somehow taught, coached, and earned two graduate degrees (without doing any loans) during that time. We did that all even though we cut our income in half when she became an at home mom those 8 years. Not having car payments made some of this all easier. We started out with brand new cars, but they were very affordable back then. Cars are not investments! Throw money elsewhere if you can!
I may be stuck in the past, but I think vehicle prices are out of whack today. Quote -
"The average new car sold in November cost $48,681 – a record high. The price was $422 higher than in October and $2,250 higher than one year ago. According to Kelley Blue Book calculations, the average buyer has paid more than the manufacturer's suggested retail price (MSRP) every month since July 2021." Dec 12, 2022
I'm enjoying my $10,000 OTD Mirage more than ever!
Dirk Diggler (01-03-2023)
No, everything is distorted. The QE money printing machine never stopped, the net effect of that is everything is awash with fiat currency. Money is just like bacteria in geometric growth. We're at/have been tipping point for some time now. I think there's a major correction coming. If the idiots at the Fed try to front run it with even more QE and printing we'll implode hard. The rate rises are a good start. We should see car prices contract, hard, in the next year. Houses are taking a big hit now. Will we correct back to $10,000 OTD Mirages? Maybe. Will we see a return of Mits financing @4.99APR. I think so if they want to keep sales up. We'll see.
Zero, 2014 ES Plus 5MT, written off but not forgotten.
Zero II, 2014 SE, 5MT, climate She's HOME now!
Shelby AKA "Cute", 2017 ES 5MT, A/C.
Mirage owners look at the world differently than everyone else, but in a better way
We're driving the Beetle of the 21st century, the greatest small car now available!
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View my fuel log 2017 Mirage ES PLus 1.2 manual: 39.0 mpg (US) ... 16.6 km/L ... 6.0 L/100 km ... 46.8 mpg (Imp)