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Thread: I wish I could buy a mirage, maybe I can?

  1. #1
    Uber Mirage alex16's Avatar
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    I wish I could buy a mirage, maybe I can?

    Long story: cliff notes below***

    I am 27 years old and I live in central Pennsylvania. I have terrible credit and a equally low paying job (14.10/hr currently). My wife and I separated for a short bit (its a long story) and are back together, while we were apart she bought a 2014 lancer cvt even with her bad credit. I have bad credit as well, several debts owed, I've never financed a car or anything major in my life, my score is around 600 last I checked. 612 Verified now credit score. My wife and I have a 8 month old daughter so reliability is a issue now with my older vehicles. I currently own a very poor condition 1999 Civic EX coupe automatic and a rusted out 1991 Jeep cherokee 4.0 5 speed 4x4. The civic has been previously wrecked (not by me) twice in the front, different color fenders/bumper, 227k miles on a very old timing belt, front main seal dumping oil, no carpet, lots of dings and dents. I think I can get 700 for it as is, maybe 500 trade in? The mountains and the snow make keeping my cherokee a good choice, its 4x4 can make my 8% mountain grade in the thick snow when I see fwd cars slow to a stop spinning trying to make it (my civic has trouble with studded snow tires). I am a long time ecomodder fan/user, I love high mpg and I enjoy small cars, I grew up in a 1991 civic hatchback as a kid. A mirage listed on here for 9,000 is 150 miles away from me in new york, should I go for it or a new one I found 30 miles away. I really have my heart set on a 5 speed ES.


    ******cliff notes
    612 credit score 1400 month income 2 years at same job in january 28th 2 debts against my credit history.Trade in value 500 to 700.

    Option A (I prefer white)
    http://www.tommasanomitsubishi.com/t..._EUIDE_EXCHG_1

    option B

    http://www.cars.com/vehicledetail/de...8/overview/#10


    Last edited by alex16; 12-24-2014 at 12:59 AM. Reason: forgot trade in factor.

        __________________________________________

        click to view fuel log View my fuel log 2014 Mirage ES 1.2 manual: 44.8 mpg (US) ... 19.1 km/L ... 5.2 L/100 km ... 53.9 mpg (Imp)


  2. #2
    Hey Alex16 - welcome!

    As much as I love these little Mitsus, I'd be reluctant to recommend taking on even more debt if finances are tight.

    Seems to me for half the price of a used Mirage you should be able to find something reliable that's almost as efficient but won't strain the budget quite as much. Something like a 6-8 year old Yaris/Echo/Corolla or unmolested Civic. Manual transmission, of course, for max efficiency and enjoyment!

    Who knows - maybe it comes down to what monthly payment you can afford, and maybe the Mitsu dealer's payments will be better than what you can get from a bank or used dealer for an older used car.

    I have good credit and no debt, but I won't be considering a Mirage for at least a few more years (and second hand at that)!

        __________________________________________

        click to view fuel log View my fuel log 2014 Mirage ES 1.2 manual: 63.2 mpg (US) ... 26.9 km/L ... 3.7 L/100 km ... 75.9 mpg (Imp)


  3. #3
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    In your position I would take out a loan on a used car for $3-5k, but only if you can absolutely make payments on time every month. You need to rebuild your credit before you take out a large loan. Your interest rates will be too high to make purchasing a new car worth it.

  4. #4
    Uber Mirage alex16's Avatar
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    I do get raises every 6 months of about .55 each time (I'm getting one mid January) so finances will be a little better as time goes on. Holidays offer up a lot of overtime opportunity as well, I am applying for a truck driver position that offers 17.50hr base rate in January as well.

    I've tried taking a loan out twice for used cars, first was a 2004 Accord 5 speed 4 door, they were asking 7,000 w/100k miles all said and done with 21% interest it was like 12,000, I was approved for that but the car looked like it was not taken care off, vauecraft battery, stp oil filter, no name tires. I applied for a 1998 Cherokee classic automatic 4.0 104k miles for 3500 and the denied me, even with 1,000 down. It is harder to get a loan on a older used car than it is for a new/brand new car. These "Buy here pay here" car lots are really the only ones that will approve me, but I'll get approved for a 1995 Civic 150k miles for 5,000, it doesn't make sense. If you have good credit a used car can be easily approved for through a bank. In order to be approved for a civic (4 door 5 speed) it would need to be 2008 or newer (maybe 2009 when we get to 2015) with less than 60,000 miles, at least this is the criteria they gave my wife at the dealer, she settled on a new lancer after looking at the used car options and lack of warranty coverage.

        __________________________________________

        click to view fuel log View my fuel log 2014 Mirage ES 1.2 manual: 44.8 mpg (US) ... 19.1 km/L ... 5.2 L/100 km ... 53.9 mpg (Imp)


  5. #5
    Uber Mirage alex16's Avatar
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    I got a call from the new york dealership, they are trying to finance me as we speak with 1,000 down... which hopefully I can sell my civic asap for around 900. If I can get the 1,000 down and a 60 month loan I'll be at 133 a month car note 140 month car insurance, about as affordable as I can get with a 2014 car.

        __________________________________________

        click to view fuel log View my fuel log 2014 Mirage ES 1.2 manual: 44.8 mpg (US) ... 19.1 km/L ... 5.2 L/100 km ... 53.9 mpg (Imp)


  6. #6
    Yeah, I figured they wouldn't make it easy with a used car. And 21% interest is just nuts.

    Keep us posted!

        __________________________________________

        click to view fuel log View my fuel log 2014 Mirage ES 1.2 manual: 63.2 mpg (US) ... 26.9 km/L ... 3.7 L/100 km ... 75.9 mpg (Imp)


  7. #7
    Uber Mirage alex16's Avatar
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    http://reading.craigslist.org/cto/4818466074.html

    I hope I can get it sold, I will miss it but the automatic transmission and lack of back doors ruins it for me.

        __________________________________________

        click to view fuel log View my fuel log 2014 Mirage ES 1.2 manual: 44.8 mpg (US) ... 19.1 km/L ... 5.2 L/100 km ... 53.9 mpg (Imp)


  8. #8
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    Id stick with what you have until you can get a bit more to put down.

    Here where I am, $14 an hour is pretty decent.

  9. #9
    Uber Mirage alex16's Avatar
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    I wish my jeep wasn't in such bad condition, I only paid 100 bucks for it last year, but I've put in about 1,000 in parts. It still needs floor pans everywhere, I just drive it with my feet on the frame currently. With the cold winter its averaging around 13 to 14mpg, around 10 to 11mpg in 4x4, its the only thing that can get me to work up the 2 mile 8% grade mountain, there is another way but it changes my 4 mile commute to about 15 miles.



    I can get my daughter into the civic but it's going to be almost impossible when we switch to the larger 22-80lb car seat without a back door.

        __________________________________________

        click to view fuel log View my fuel log 2014 Mirage ES 1.2 manual: 44.8 mpg (US) ... 19.1 km/L ... 5.2 L/100 km ... 53.9 mpg (Imp)


  10. #10
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    Wow! I've seen some bad Cherokee before ... that floor is bad! How's the rear frame ... where the trailer hitch attaches and the gas tank filler passes through the frame? I'm a bit partial to Cherokees, so I hate to see them junked. I think they're the best Jeep made and, rust aside, yours should last forever.

    I think they are worth throwing floors at.

    How much do you drive? I could justify switching to a focus from a Jeep cherokee because the gas savings made the payment. That's the only way I could think of it making sense.



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