3 cheapest new cars in Canada, 2014: Mirage, Spark, Versa

[Canoehead]

Of course now the Nissan Micra is the runaway leader on sticker price.

[aydu]

Nissan = 3yr warranty vs 5 yr with Mirage - bumper to bumper.
Similar difference with the powertrain protection..

Big difference to me.

[Canoehead]

Agreed. Also fuel efficiency, total cost of ownership, and 0% financing. The Mirage is a better value if those are taken into account, but on sticker price alone the Micra is $2000 cheaper than anything else.

[aydu]

I haven't studied the Mica. How does it stack up featurewise compared to the Mirage?

I was initially drawn tothe Mirage due to it's long list of standard features, and available options. I admit I got spoiled with goodies after owning a Hyundai Azera.

Only things I gave up buying the Mirage were the moonroof, memory seats, leather, and heated cooled seats.

The Mirage gave me push button start, proximity key (big deal once you're used to it), back-up camera, auto climate control, cruise, and navigation. I could have 2 loaded Mirages for the price of the Azera. Made the car a no brainer, especially when counting the gas mileage and easy of parking.

[MetroMPG]

FYI, only 4% of Micra production slated for Canada is the $9998 car without A/C and automatic. Financing rates on the base Micra are also quite a bit steeper than the up-level trims. In other words, they're strongly nudging shoppers into the higher trims.

The mid-range Micra that most people will buy (with 4-spd automatic and A.C. + extras) is $13,698 CAD. Still cheaper than a Mirage equipped with A.C. & CVT at $15,398 -- the differential drops from $2500 (base) to $1700. And the Mirage's lower operating costs make up that difference in ~5 years for the average driver.

Still, $9998 is marketing gold, and they're going to get a LOT of attention because of it. But it really only makes sense as a cash purchase, and most people won't be doing that.

[Canoehead]

But it really only makes sense as a cash purchase, and most people won't be doing that.

Even as a cash purchase, I don't see the value.

$10k price, plus delivery, taxes etc is approximately $13k Cash.

The Mirage at $16k all-in price with 0% for 6 years means I could take the cash and buy a GIC at 3% which earns about $1500 (for a net benefit over the Micra of $750, say, since the Micra buyer could save over the next 6 years by making payments to his/her own savings account).

The Mirage uses about 1.5L/100km less fuel (conservative estimate based on Micra's stated 6.6/8.6 city hwy numbers), so over 6 years going 20k km/year or 120k km, the Micra would cost 1800L of fuel more. Assuming fuel is $1.25/L, that makes it $2400 more expensive over 6 years.

So, after 6 years, the cash purchase of the Nissan costs more than the Micra, assuming fuel stays the same price and interest rates remain low. Driving longer than 6 years, more than 120k km, or an increase in fuel prices all favour the Mirage. The Mirage will still have powertrain warranty at this point as well.

[cookiemonster]

With Mitusibishi Canada's new $2,500 rebate, everything's clearly in the Mirage's favor now

[MetroMPG]

$2500??? Really? Must go look more at this...

Holy cow!

http://www.mitsubishi-motors.ca/en/promos/sales-event/