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Thread: Are used Mirage prices falling? Yes!

  1. #1

    Are used Mirage prices falling? Yes!



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    I've been tracking used Mirage prices and anecdotally I can confirm used Mirage prices are indeed in a freefall now. I also came across a source that backs me up.

    Unlike what we saw in 2020-2021, when interest rates were low and money was cheap and being pumped into the system so freely, we saw the value of our Mirages go through the roof and it was almost too good to be true. For the first time, we all saw the price of a Mirage exceed $20k USD! Wow, Mark finally had to stop telling us about his amazing deal he got at White Bear back in 2017. Shout out to Mark.

    Today, not so much. Carvana is going bust, CarMax slowed down buying. A lot has changed, interest rates on car loans are now upwards of 6%, credit cards creeping up to 20%, housing 7%, etc. Money is now more expensive to borrow. People are being laid off, Amazon just announced 18k employees are about to be laid-off. Damn!

    Because of this trend, I've noticed the Mirages I've been window shopping for have fallen in price in recent weeks. I'm talking about -$1000 discounts. It appears like dealerships are starting to sit on some inventory for longer than they'd want to so now they're resorting to deep price cuts. I've noticed prices are starting to come down.

    If you have the cash and are looking for a deal on a Mirage, I think your opportunity is coming! This recession will present many opportunities but also many losses. Unfortunately, some people will lose their jobs, and will default on their auto loans, putting cheap Mirages back into the market for potential buyers. The loan company will want to recoup as much as they can from the upcoming loan defaults. People will not be able to afford their $700-$1,000 monthly payments if they lose their jobs (those that took out massive auto loans, not necessarily the Mirage).

    One good recent example is this 2021 Mitsubishi Mirage G4. I've watched this Mirage come down in price by the thousands! These are starting to come back down to reality before the recent hype and mania. This clean, one owner, 14k mile, 5 speed manual, rust-free Cali car, now costs $13k USD. This is a great price for what it is but i think even better deals are coming, if the economy worsens.

    At which point you may not be worried about buying a Mirage, but rather how to stay alive.

    Has anyone else noticed this?

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    Source: Bloomberg, The Maverick of Wall Street


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    Last edited by davidricardo86; 01-06-2023 at 09:19 AM.

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    I can't speak for all parts of the country or for all Mitsubishi dealerships, but a Mirage was still quite cheap to purchase brand new through all of 2020 & into the early part of 2021 (April was sort of the cut off point).

    Erik (who goes by MrFixIt on this forum) paid $10,400 OTD for the 2021 ES manual (yellow) that he bought for his wife (mid February of 2021). He has a number of You Tube clips about his two Mirages (2018 CVT & 2021 Manual). I might add that his OTD price included White Bear delivering his wife's brand new car to his home in North Carolina on a flat bed truck. He introduces his wife's new Mirage below -

    https://www.youtube.com/watch?v=FTKrYAVx9eQ&t=230s

    I am way over the top in sharing my good deal from White Bear with others, but I am not the only one who got one from White Bear. Erik purchased his 2nd Mirage 4 years after me, & in some ways his deal was even better. I do believe he qualified for a couple rebates (loyalty & military) at the time (which I did not), & that made a big difference, too.

    Like some others, I used to follow White Bear's pricing of the Mirage for years. I could have bought a 2021 ES manual for under $11,000 OTD as late as March/April of 2021. I would have qualified for the larger loyalty rebate in that case, & that would have put the car under that OTD price without any negotiations. From past experience, WB would have delivered that car to my home 4 hours away, too!

    My biggest knock on Mitsubishi is someone living in North Carolina shouldn't have to make a good deal on a Mirage in Minnesota. If Wisconsin has a good Mitsubishi dealership, I am still not aware of one after purchasing mine over 5 years ago. If Mitsubishi vehicles become Nissan products eventually, I buy a Nissan instead. That's not happening, however. Nissan is not a brand that I would be interested in these days.

    Jump ahead to 2023, a new Mirage has become a vehicle that I wouldn't buy at any price. If a brand new ES CVT was $10,000 brand new, I still wouldn't be interested. I am not going to buy something I don't like.

    Thus, I would be looking at the 2017-22 Mirage ES manual & 2017 SE manual if I needed to buy a car today. Just looking briefly for a best deal (500 mile radius search) a 2018 ES manual (under 30,000 miles) is listed at $13,900. That's about the same price my local Mitsubishi dealer wanted for a new one. I test drove a 2018 ES manual in October of 2017 & ordered my 2017 ES manual from WB the next day. That was on a Tuesday, and White Bear found my car in my first color choice within a few hours later at another dealership. They drove my new car to my home that same week on Saturday. A 5-year old Mirage for $13,900 doesn't seem like a good deal to me. Others may feel otherwise in today's market, & I get that.

    Carvana has a 2017 ES manual like mine (under 10,000 miles) for $15,590. I get it's low mileage, but I could have bought two brand new 2017 Mirages for less than that if I had qualified for the rebates. If you qualified for all the rebates and financed with Ally, an ES manual would have been $7,500 @ WB. I stared at those prices for months before they got the best of me. I honestly feel Carvana & CarMax are stuck with a large inventory of cars, they overpaid for.

    If I had to pay $13,000-$15,000 for a used Mirage ES manual, I would buy a Honda Fit instead. For that amount of money, I just feel it's a better value (130 hp/6-speed manual) even if it costs me a couple thousand more.

    I don't share these things, because I like ripping on a Mirage. I really like my Mirage a lot. Buying it at a good price is a big part of that equation, however. If a car like a Honda Fit is priced close to a Mirage, I buy the Fit. It's just a better car. I would be looking at used Scion models & the Yaris, too.

    Simple items have become expensive. I paid 99 cents for a dozen eggs at my local Kwik Trip for years (maybe a decade or more). I bought a dozen a few days ago for $4.99 from the same store. In just a short period of time, eggs have become 5 times more expensive. I know this is a small item, but I am just a single guy buying for myself. Imagine feeding your family, & I am just looking at eggs. I have stopped buying some things even though I could still afford them. I like eggs, but I don't see myself eating them as much now. At some point, even eggs become less appealing to me.

  3. #3
    I haven't noticed anything being cheaper over here. https://www.kijiji.ca/b-cars-trucks/...iceAsc&dc=true

    The only thing I've seen go down has been gas. It dropped below $1.18/Liter($3.28/gallon) for a week around Christmas time but it's back up to $1.30+ now.
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        click to view fuel log View my fuel log 2014 Mirage SE wussie cvt edition. 1.2 automatic: 37.7 mpg (US) ... 16.0 km/L ... 6.2 L/100 km ... 45.3 mpg (Imp)


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    Quote Originally Posted by Mark View Post
    Simple items have become expensive. I paid 99 cents for a dozen eggs at my local Kwik Trip for years (maybe a decade or more). I bought a dozen a few days ago for $4.99 from the same store. In just a short period of time, eggs have become 5 times more expensive. I know this is a small item, but I am just a single guy buying for myself. Imagine feeding your family, & I am just looking at eggs. I have stopped buying some things even though I could still afford them. I like eggs, but I don't see myself eating them as much now. At some point, even eggs become less appealing to me.
    Edit to the end of my last post - I just saw an article on the Avian bird flu wiping out millions of chickens. I will cut the egg farmers some slack. I wasn't really bashing them in the first place. I grew up on a dairy farm, and most farmers I knew growing up weren't rich.

    Both of my grandparents were farmers growing up. I don't think either one ever owned a new car. I remember my one grandpa owning/driving a couple AMC Ramblers when I was young. All of those cars were planted on the farm when he was done with them. One of my cousins is still selling scrap metal off the farm at times. I could go out to the woods & take a look at my mom's first car years ago, because it was planted there, too.

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    Senior Member Wallythacker's Avatar
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    I called the car prices coming down steeply last fall but I've known it's going to happen for two years now. All for the reasons mentioned. Traditionally interest rates have been in the 5% + range since people started loaning money. The .99% on everything from cars to 3 year mortgages are artificial and another form of money printing to keep the velocity of money high enough to prevent the economy from stalling. Game over dude, game over.
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    Senior Member Dirk Diggler's Avatar
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    Quote Originally Posted by Mark View Post
    I can't speak for all parts of the country or for all Mitsubishi dealerships, but a Mirage was still quite cheap to purchase brand new through all of 2020 & into the early part of 2021 (April was sort of the cut off point).

    Erik (who goes by MrFixIt on this forum) paid $10,400 OTD for the 2021 ES manual (yellow) that he bought for his wife (mid February of 2021). He has a number of You Tube clips about his two Mirages (2018 CVT & 2021 Manual). I might add that his OTD price included White Bear delivering his wife's brand new car to his home in North Carolina on a flat bed truck. He introduces his wife's new Mirage below -

    https://www.youtube.com/watch?v=FTKrYAVx9eQ&t=230s

    I am way over the top in sharing my good deal from White Bear with others, but I am not the only one who got one from White Bear. Erik purchased his 2nd Mirage 4 years after me, & in some ways his deal was even better. I do believe he qualified for a couple rebates (loyalty & military) at the time (which I did not), & that made a big difference, too.

    Like some others, I used to follow White Bear's pricing of the Mirage for years. I could have bought a 2021 ES manual for under $11,000 OTD as late as March/April of 2021. I would have qualified for the larger loyalty rebate in that case, & that would have put the car under that OTD price without any negotiations. From past experience, WB would have delivered that car to my home 4 hours away, too!

    My biggest knock on Mitsubishi is someone living in North Carolina shouldn't have to make a good deal on a Mirage in Minnesota. If Wisconsin has a good Mitsubishi dealership, I am still not aware of one after purchasing mine over 5 years ago. If Mitsubishi vehicles become Nissan products eventually, I buy a Nissan instead. That's not happening, however. Nissan is not a brand that I would be interested in these days.

    Jump ahead to 2023, a new Mirage has become a vehicle that I wouldn't buy at any price. If a brand new ES CVT was $10,000 brand new, I still wouldn't be interested. I am not going to buy something I don't like.

    Thus, I would be looking at the 2017-22 Mirage ES manual & 2017 SE manual if I needed to buy a car today. Just looking briefly for a best deal (500 mile radius search) a 2018 ES manual (under 30,000 miles) is listed at $13,900. That's about the same price my local Mitsubishi dealer wanted for a new one. I test drove a 2018 ES manual in October of 2017 & ordered my 2017 ES manual from WB the next day. That was on a Tuesday, and White Bear found my car in my first color choice within a few hours later at another dealership. They drove my new car to my home that same week on Saturday. A 5-year old Mirage for $13,900 doesn't seem like a good deal to me. Others may feel otherwise in today's market, & I get that.

    Carvana has a 2017 ES manual like mine (under 10,000 miles) for $15,590. I get it's low mileage, but I could have bought two brand new 2017 Mirages for less than that if I had qualified for the rebates. If you qualified for all the rebates and financed with Ally, an ES manual would have been $7,500 @ WB. I stared at those prices for months before they got the best of me. I honestly feel Carvana & CarMax are stuck with a large inventory of cars, they overpaid for.

    If I had to pay $13,000-$15,000 for a used Mirage ES manual, I would buy a Honda Fit instead. For that amount of money, I just feel it's a better value (130 hp/6-speed manual) even if it costs me a couple thousand more.

    I don't share these things, because I like ripping on a Mirage. I really like my Mirage a lot. Buying it at a good price is a big part of that equation, however. If a car like a Honda Fit is priced close to a Mirage, I buy the Fit. It's just a better car. I would be looking at used Scion models & the Yaris, too.

    Simple items have become expensive. I paid 99 cents for a dozen eggs at my local Kwik Trip for years (maybe a decade or more). I bought a dozen a few days ago for $4.99 from the same store. In just a short period of time, eggs have become 5 times more expensive. I know this is a small item, but I am just a single guy buying for myself. Imagine feeding your family, & I am just looking at eggs. I have stopped buying some things even though I could still afford them. I like eggs, but I don't see myself eating them as much now. At some point, even eggs become less appealing to me.
    Maybe the recession will force Americans to start losing weight. 40% of the US is obese. Half my wife's classroom is filled with obese children. Pathetic. Gen X'ers were never this fat, baby boomers even less so, and the greatest generation even much less so! I guarantee you if my Grandpappy was alive today, and in his 30s, peeking into a classroom, he'd be shocked by what he saw. My heart goes out to people that struggle with their weight though, the ones that at least try and keep the weight off, most don't. When I was driving Uber in my Mirage I'd cringe whenever somebody over 300lbs got in the back seat of my Mirage. I could just feel my shocks getting destroyed.

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    Quote Originally Posted by Dirk Diggler View Post
    Maybe the recession will force Americans to start losing weight. 40% of the US is obese. Half my wife's classroom is filled with obese children. Pathetic. Gen X'ers were never this fat, baby boomers even less so, and the greatest generation even much less so! I guarantee you if my Grandpappy was alive today, and in his 30s, peeking into a classroom, he'd be shocked by what he saw. My heart goes out to people that struggle with their weight though, the ones that at least try and keep the weight off, most don't. When I was driving Uber in my Mirage I'd cringe whenever somebody over 300lbs got in the back seat of my Mirage. I could just feel my shocks getting destroyed.
    That's one part diet and one part technology most likely. Kids seem less active in sports. I just started up 18 new student drivers these past couple weeks and not one of them is in sports. That's very different from the past. Makes my life easier scheduling them, but kids seem more interested in their smart phones, social media, & video games.

    I say all this while staring at my Chromebook!

    I just saw an article stating a connection between sugar soda/pop & baldness. If anyone has that concern, too!

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    Senior Member Dirk Diggler's Avatar
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    Quote Originally Posted by Mark View Post
    That's one part diet and one part technology most likely. Kids seem less active in sports. I just started up 18 new student drivers these past couple weeks and not one of them is in sports. That's very different from the past. Makes my life easier scheduling them, but kids seem more interested in their smart phones, social media, & video games.

    I say all this while staring at my Chromebook!

    I just saw an article stating a connection between sugar soda/pop & baldness. If anyone has that concern, too!
    I completely agree and would tack on "appropriate portion size meals". Look at pictures of hamburger and fries from McDonalds from when you were a teenager vs now. It's like David and Goliath size lol. Portions have gotten out of control. It reflects poorly on us IMO. When I was in Amsterdam overwhelmingly people there were in at least decent shape and thin. Your daughter's husband was probably shocked the 1st time he hit America lol. I really doubt half of Finland is morbidly obese. We can do better. Let's bring back fat-shaming! My hippie dippie friends would wince at hearing me say that but dealing with massive amounts of bariatric patients is getting ridiculous. Ever try finding a good vein on a intravenous drug addict who also happens to be obese? Yes, they exhist, contrary to film and television lol. Silver lining to inflation? Who knows lol!

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    Quote Originally Posted by Dirk Diggler View Post
    I completely agree and would tack on "appropriate portion size meals". Look at pictures of hamburger and fries from McDonalds from when you were a teenager vs now. It's like David and Goliath size lol. Portions have gotten out of control. It reflects poorly on us IMO. When I was in Amsterdam overwhelmingly people there were in at least decent shape and thin. Your daughter's husband was probably shocked the 1st time he hit America lol. I really doubt half of Finland is morbidly obese. We can do better. Let's bring back fat-shaming! My hippie dippie friends would wince at hearing me say that but dealing with massive amounts of bariatric patients is getting ridiculous. Ever try finding a good vein on a intravenous drug addict who also happens to be obese? Yes, they exhist, contrary to film and television lol. Silver lining to inflation? Who knows lol!
    I think it was Bill Maher that asked the question - How many fat 90 year old people do you know?

    I could drop a few pounds myself!

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    Senior Member Dirk Diggler's Avatar
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    Quote Originally Posted by Mark View Post
    I think it was Bill Maher that asked the question - How many fat 90 year old people do you know?

    I could drop a few pounds myself!
    He's one of my heros. I saw his stand up live in Atlanta. He killed. One of the last common sense pragmatist IMO. He eats his own. I respect that.

    I had to drop 30lbs for my health and joints about 10 years ago. It's a lot easier to keep it under 2k calories a day than people think. Just 3 small meals day. If you get agitated from snacking urges, just drink a bottle of water and give it 15 mins. The urge will disappear like magic. After a month or so, your brain will reset its dietary schedule, then the urges get and stay weak, i swear on my life lol. Everybody's metabolism is different of course but it'll work for most, all ages of men. I'm running around all day though, so that helps some even though stress exercise isn't real exercise, it's just work.



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