Cheap used Mirages you've seen for sale?

[Fummins]

Holy cheap Mirage, Batman!!

$1250 for 190,000 km = 118k miles.



Very economical, good mechanical condition, runs well, new OEM hubcaps included.

Looks like a base, no A/C special.

Too bad it's so far away!

https://www.kijiji.ca/v-view-details...dId=1444667191

Damn I'd drive that. If someone wants to drive it out here I'll give them a case of cheap beer and $1000. Might have to tape a generator on the roof and bungee cord a window ac unit in the back window for the summer but that's totally doable.

[Dirk Diggler]

Seriously this is pretty standard procedure for your buy here pay here lots. Your down payment on the car is normally what they paid at the auction for it. They force you to buy a warranty because if the car isn't running you aren't making the payments. Once they have 90 days worth of payments they sell your title to a finance company. By this time they have made back the cost of the car, the sales commission and have a chunk of change thats clear before selling the title at a "loss" so that they don't have to deal with the customer issues. Only about 30 percent of these cars are ever paid off they are normally abandoned/repoed/traded in or totaled before then. I don't miss selling cars at places like this at all.

Carvana is doing the same thing to people right now at much higher rates. The pink mirage I posted last night is a 2015 from New York, has rust damage, 80k on it and she is paying about 16k for it total. Bunch of savages in this town.

Even with rust damage, you think it could hit 175k miles?

[Fummins]

Seriously this is pretty standard procedure for your buy here pay here lots. Your down payment on the car is normally what they paid at the auction for it. They force you to buy a warranty because if the car isn't running you aren't making the payments. Once they have 90 days worth of payments they sell your title to a finance company. By this time they have made back the cost of the car, the sales commission and have a chunk of change thats clear before selling the title at a "loss" so that they don't have to deal with the customer issues. Only about 30 percent of these cars are ever paid off they are normally abandoned/repoed/traded in or totaled before then. I don't miss selling cars at places like this at all.

Carvana is doing the same thing to people right now at much higher rates. The pink mirage I posted last night is a 2015 from New York, has rust damage, 80k on it and she is paying about 16k for it total. Bunch of savages in this town.

Everyone likely knows someone who got sucked into buying a car and ending up paying way more than it's worth. My sister and her boyfriend got roach financing for a couple pos cars years ago. An 04 Grand am and an 01 Tiburon. After they bought them asked my opinion and I said stupid idea for the financing and the choice of cars if they want something relable. The grand am was trashed within a year, needed intake and head gaskets and he hit the ditch a few times. He ended up claiming bankruptcy because he's a retard. In the end the finance company decided the car wasn't even worth repo'ing.
The tiburon needed a clutch transmission shortly after buying it(surprisingly was covered under the roach warranty!)then she was dumb and turned left on a red getting t-boned. Insurance gave her a cheque for what the car was worth, which covered the remainder of the loan.

[Mark]

I'll never understand how its the norm to put as many road blocks as possible to people trying to get their lives together, trying to do right by society. Car loans is a great example, "Oh you have bad credit, oh your an ex-con for possesion of marijuanna, oh your struggling financial? Lets charge you triple to get a vehicle to get to your job." Man, its expensive being poor. Vicious circle of poverty.

It does defy logic sometimes. High credit score = low risk for creditors. Creditors are out to make money. Improving society isn't probably a big concern for them.

[Mark]

Holy cheap Mirage, Batman!!
$1250 for 190,000 km = 118k miles.
Very economical, good mechanical condition, runs well, new OEM hubcaps included.
Looks like a base, no A/C special.
Too bad it's so far away!

If that car was in my neighborhood, I would definitely look at it! In American dollars, that's about $960. Even if the car needed some work like new brakes, shocks, or whatever, it would be an incredible deal. Talk about a cheap daily driver! Pay cash & put liability insurance on it. Cheap transportation!

It may be a case of where someone bought it (cheap) used, they put some serious miles on it, and feel it should be way less than what they paid for it. Just a theory on my part?

$1000-1500 doesn't buy much of a car these days, but this one may be an exception to that thought!

[MetroMPG]

No argument here. If it was closer, I definitely would have gone to look at it today with cash in my pocket.

[Loren]

At anything under $2k, even if it needs an engine, it's worth buying.

[Dirk Diggler]

At anything under $2k, even if it needs an engine, it's worth buying.

Damn right.

[Scratchpaddy]

At anything under $2k, even if it needs an engine, it's worth buying.

When a piston cracked in my last car (a Chevy Cruze) and it needed a new engine, I put it on Cragislist for $1,500 with full disclosure of the problem. About 15 minutes later, I had the cash and no more broken car.

I'd be amazed if the black Mirage is still for sale.

[Cobrajet]

It does defy logic sometimes. High credit score = low risk for creditors. Creditors are out to make money. Improving society isn't probably a big concern for them.

Banks are not in the 'Mother Teresa' business, giving alms to the poor. You are right, it is all about risk. Sometimes it is a Hard-Luck Charlie situation, but in the vast majority of cases such people wound up in jail and/or with bad credit scores for a reason.

They are irresponsible. They make poor choices.

Back in the day, a regular bank wouldn't finance them at ANY interest rate. The fact that they are being offered any credit right out of jail with a 505 credit score and a job they started two weeks ago is something I believe they might want to be...thankful for?

"If you wanna dance, you gotta pay the band. If you wanna borrow, you gotta pay the man." ---Rocky Balboa