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Thread: Mirage awarded "Best Value / Lowest Total Cost of Ownership" Canada, US. - Vincentric

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    Quote Originally Posted by MetroMPG View Post
    Canoehead - I wonder if the "depreciation" is an accounting issue rather than actual value. If I'm not mistaken, business use of an auto permits you to claim 30% depreciation per year as a tax-deductible business expense.

    That doesn't explain how it could be equal to the Camry though.
    Good point. I hadn't thought of that, and am of course not a fleet manager/business person. I only looked at it as the idea of using a car for 3 years and then selling it. I would happily buy a 3 year old Mirage for a $9000 discount! That would be a steal of a deal. I hope many fleets and rental agencies adopt this car, as that would make for a ready supply of used ones, greater parts availability, and keep the price reasonable. Used Honda Fits seem to be outrageously priced around here, as there are so few available (a 2007 Fit with 100k+ km can cost almost as much as a new Mirage).


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        click to view fuel log View my fuel log 2014 Mirage SE 1.2 manual: 45.0 mpg (US) ... 19.1 km/L ... 5.2 L/100 km ... 54.1 mpg (Imp)


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    Quote Originally Posted by MetroMPG View Post
    The Mirage just won an award in Canada for "Best Fleet Value 2014" in its segment.

    Not surprisingly, the car's excellent fuel economy contributed, as well as its "lowest in class depreciation."

    The award specifies the base level car. (Presumably with the CVT, but it didn't say.)

    Source: Vincentric 2014 Canada Fleet Winner - Micro class

    Full range of winners:
    VINCENTRIC BEST FLEET VALUE IN CANADA AWARDS - 2014 Award Winners
    Sadly the Vincentric links are dead. Where else can we find info about this award?

        __________________________________________

        click to view fuel log View my fuel log 2015 Mirage ES 1.2 manual: 49.9 mpg (US) ... 21.2 km/L ... 4.7 L/100 km ... 59.9 mpg (Imp)


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        click to view fuel log View my fuel log 2013 Space Star Cleartec Intense 1.0 manual: 54.4 mpg (US) ... 23.1 km/L ... 4.3 L/100 km ... 65.4 mpg (Imp)


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    That's funny - Vincentric places the Mirage in it's Micro segment. I'm surprised they consider it smaller than subcompact.

    Vincentric: 2014 Mitsubishi Mirage ES 5D Hatchback
    Quote Originally Posted by Vincentric

    Micro

    2014 Mitsubishi Mirage ES 5D Hatchback

    The Mitsubishi Mirage conquered the competition in this year's newly added micro segment, winning the Vincentric Best Fleet Value in Canada award for the first time. The Mirage delivered the lowest total cost of ownership in every one of the 24 lifecycle scenarios measured. Contributing to its win was top notch fuel economy and the lowest depreciation in its class.

        __________________________________________

        click to view fuel log View my fuel log 2015 Mirage ES 1.2 manual: 49.9 mpg (US) ... 21.2 km/L ... 4.7 L/100 km ... 59.9 mpg (Imp)


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    Senior Member Wallythacker's Avatar
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    The depreciation is likely IRS or CRA allowable amounts. Cause, really, where do I sign up to buy 3 year old Mirages with 90k on them for $1000? I'll take a dozen, thanks
    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!

        __________________________________________

        click to view fuel log 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)


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    Senior Member Wallythacker's Avatar
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    Quote Originally Posted by Canoehead View Post
    Good point. I hadn't thought of that, and am of course not a fleet manager/business person. I only looked at it as the idea of using a car for 3 years and then selling it. I would happily buy a 3 year old Mirage for a $9000 discount! That would be a steal of a deal. I hope many fleets and rental agencies adopt this car, as that would make for a ready supply of used ones, greater parts availability, and keep the price reasonable. Used Honda Fits seem to be outrageously priced around here, as there are so few available (a 2007 Fit with 100k+ km can cost almost as much as a new Mirage).
    Enterprise had Mirages available in 2015. Then they were gone, Now I don't think any Canadian rental house has any Mits available. Shame. It's where I learned I love the Mirage and I learned that if abused it would shake and rattle like mad @30kms on the clock. Also learned if you drive highway with the hatch cracked you will get carbon monoxide poisoning. I learned this the hard way.
    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!

        __________________________________________

        click to view fuel log 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)


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    Administrator MetroMPG's Avatar
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    2017 again -- double winners!

    Mirage is back, winning 2 slots with the hatchback and the sedan:

    Name:  vincentric2017.jpg
Views: 186
Size:  75.8 KB

    http://www.vincentric.com/Home/Best-...a-Winners-List

    It's funny: last year, those slots went to the Mirage's 2 closest competitors, the Nissan Micra and the Chevy Spark.

    The year before, the Smart ForTwo won.

    I don't understand how the leaderboard can change so dramatically from year to year, unless the manufacturers' purchase incentives are changing.

        __________________________________________

        click to view fuel log View my fuel log 2014 Mirage base ES 1.2 manual: 54.0 mpg (US) ... 23.0 km/L ... 4.4 L/100 km ... 64.9 mpg (Imp)


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    2018 G4 wins U.S. "Best Value" award



    Mitsubishi Mirage G4 Earns Vincentric Best Value Award for the Subcompact Segment



    “Our analysis showed that the 2019 Mirage G4 provides better value than all other subcompact passenger cars,” explains David Wurster, Vincentric President. “Key to the award-winning performance of the G4 was having the lowest total cost-of-ownership in its class, helped by its low fuel costs.”
    Source: https://thenewswheel.com/mitsubishi-...mpact-segment/

        __________________________________________

        click to view fuel log View my fuel log 2014 Mirage base ES 1.2 manual: 54.0 mpg (US) ... 23.0 km/L ... 4.4 L/100 km ... 64.9 mpg (Imp)


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    Senior Member fc321's Avatar
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    Yeah,

    The big problem is when people search youtube for "mitsubishi mirage review" and watch the video of that one ding-bat saying "Worst car ever made".

    That video probably causes many people to disregard the Mirage. But the real reviews are the people on this same forum that own and drive the car for years. Not some car-reviewer snob that drove the car for 15 minutes.

    But the Mirage mostly makes sense for somebody that wants to buy it new and drive it for 10 years. If you like to trade up every 3 years then the Mirage is not a good idea because of the fast depreciation.
    2015 Mirage DE 5 speed Manual (no bluetooth) nickname: "Agile Grey Rat"

        __________________________________________

        click to view fuel log View my fuel log 2015 Mirage DE 1.2 manual: 44.9 mpg (US) ... 19.1 km/L ... 5.2 L/100 km ... 53.9 mpg (Imp)


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    Quote Originally Posted by fc321 View Post
    But the Mirage mostly makes sense for somebody that wants to buy it new and drive it for 10 years. If you like to trade up every 3 years then the Mirage is not a good idea because of the fast depreciation.
    I don't think the Mirage suffers from depreciation, but cars are money pits.

    I bought my Mirage in 2017.

    The average light vehicle sold for $34,968 that year.
    I paid $9299.

    The average vehicle would lose approximately $3,847 (11%) @ signing.
    My loss would be $1,023 (11%)

    One year later, the average car's loss would be approximately $8742 (25%).
    One year later my total loss would $2325 (25%)

    Three years later, the average car's loss would total $16,086 (46%)
    Three years later, my total loss would be $4278 (46%)

    With this example, someone would have lost what I paid for a new Mirage in a little over one year. After three years someone with a $35,000 new vehicle would have lost almost 3.76 times more money than what I would have lost.

    The average $35,000 car in 2017 lost about $3847 @ the time of purchase (driving it off the dealer lot).

    The average-priced Ford F150 depreciates $14,349 during the first year of ownership.

    Even if the percentage of depreciation was higher for a Mirage, it's a cheap car to begin with.


    Last edited by Mark; 02-20-2019 at 02:41 AM.

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