How much did you pay for your Mirage?

[Mark]

Thanks everyone, I appreciate the input. I'm happy with the car as it will get my son and I around town comfortably and safely this upcoming winter. Beats walking/public transportation/uber and it fits my budget so I can't be too upset. I plan on making more than the minimum payment when possible in order to knock out the loan faster. However I'm glad its low enough that it gives me some flexibility.

There's nothing like being the first owner of a brand new car but it comes at a cost. You have to be willing to take the new owner depreciation hit but you do get the car in the best condition it will ever be. I would like to replace the mismatched wheel, get it rustproofed and aligned soon. Fortunately it drives in a straight line and doesn't seem to veer. Regardless it bugs me that the wheel isn't straight so I'll get it fixed too.

After following the Mirage for 5-6 years I finally got one! My next Mirage will have to have cruise control, not sure when I'll buy new.

Here is the breakdown of the Bill Of Sale which differs slightly than what is written on the contract but both come to the same sum of $5,991. Finance told me this was done intentionally.

Vehicle price: $5,250
Documentary fee: $195
Sales tax: $480
Title ($150) and registration ($151) fees: $301
Optional ERT fee: $25
GAP: $396
Transport: $95
Handling and preparation: $250
Total due: $6,991
Down payment: $1,000
Balance due (amount financed): $5,991

I think you did well. I hope you enjoy your Mirage! By the way - aftermarket cruise can be added to most any car. One member has driven his Mirage 300,000+ miles, & he had a Rostra cruise control added to his car.

[Mark]

I don't see how paying nearly double the msrp for a car doesn't seem too bad?
$15,000 msrp(which is fairly normal for a new G4 Mirage in Canada),
plus around $2k for taxes and fees,
and around $10,000 ($7500USD)interest!!!!

I guess this is a common occurrence when people only look at that easy monthly payment over 7 years instead of the overall cost.
I almost financed my utv and acknowledged the fact I'd be paying thousands in interest, but when I found out it would have cost me $10,000 above msrp I went a different route.

Take the math one step further - Let's say you takes over the 5 years left of payments on this used vehicle (2018 G4) -

$149.71 x 26 bi-weekly payments x 5 years = $19,462.30 CAD or $14,603.66 USD

[Fummins]

Take the math one step further - Let's say you takes over the 5 years left of payments on this used vehicle (2018 G4) -

$149.71 x 26 bi-weekly payments x 5 years = $19,462.30 CAD or $14,603.66 USD

Exactly, why buy a new one when you can have someone's used 2-3 year old car for the same price lol or even less if you don't finance it.

[gregsfc]

11/30/2020 - Purchased from Tim Short Mitsubishi; Clarksville, TN a new, Silver 2020 ES (manufactured Sep 2019); 5-speed with arm rest, tonneau cover and floor matts for $11,820 after $500 retired TN Army National guard veteran discount; plus $599 doc fee; plus tax/registration; minus 2017 Kia Soul trade with 65,000 miles @ $7,400. Nothing down; financed $5,700 OTD; $93/mo for 72 months. Capital One Auto Finance sent me an email two days after taking delivery to sign up to manage my acct, and so I made a $750 principal payment after only two-days accrued interest, which is very cool.

The good news about the deal is that the new car market is advantageous to consumers for some vehicles such as the Mirage, and therefore, I was able to purchase a brand-new, on-road highway vehicle for under $12K before dealer fees and gov't fees added. The $599 doc fee is pretty standard for TN.

The bad news is that the used car market is very tilted towards dealers right now. Wholesale trade values that dealers are paying for our cars are way down and retail prices that they sell to us are way up. So even though I got a great deal on the price of my new car; they stole my Kia. I got two other quotes on the Kia before walking into the dealership. They each quoted me about $7,100, which is exactly what Tim Short first quoted me before I haggled with them and eventually got $7,400. However, according to KBB, my Kia is worth $8,300 trade value; but right now that doesn't seem to matter, as it's hard to trade a used car without a dealer stealing it.

[7milesout]

$7,400 for a Kia Soul for trade-in is way beyond what I would have expected. But I have a very dim opinion of the Hyundai-Kia brand having been a design engineer for them for 7 horrible torturous years and seen the insane crap that they do (not on the Soul, but every vehicle I was exposed to).

[gregsfc]

Well we paid $13,100 sixteen months ago for the Soul before considering our trade, and if the market were better, it would have brought more. They are super popular round here. That price paid last year was the same quote that we got on a new 2019 ES Mirage back then; but we went with the used Soul, because my Spouse liked it, but then changed her mind later. I never liked the style or it's poor performance combined with average mpg; but a much nicer, more roomy and refined ride than the Mirage. Very good ride for a compact.

They each seem to accelerate about equally to 60 (both slow). The Mirage holds highway speeds better on hills in top gear, and at least it seems to have a tad of grunt on the low end, whereas the Soul had no soul, and I never could figure out how to find anything close to it's claimed peak 130 hp. With respect to the Miage's 78 horses, it seems to be all there and more in the RPM range in which drivers drive.

[Mark]

Well we paid $13,100 sixteen months ago for the Soul before considering our trade, and if the market were better, it would have brought more. They are super popular round here. That price paid last year was the same quote that we got on a new 2019 ES Mirage back then; but we went with the used Soul, because my Spouse liked it, but then changed her mind later. I never liked the style or it's poor performance combined with average mpg; but a much nicer, more roomy and refined ride than the Mirage. Very good ride for a compact.

They each seem to accelerate about equally to 60 (both slow). The Mirage holds highway speeds better on hills in top gear, and at least it seems to have a tad of grunt on the low end, whereas the Soul had no soul, and I never could figure out how to find anything close to it's claimed peak 130 hp. With respect to the Miage's 78 horses, it seems to be all there and more in the RPM range in which drivers drive.

43-44% depreciation of your Kia Soul in 16 months is a bit of a bummer, but it can be a hassle trying to sell it yourself for a bit more money.

I've always liked the looks of the Kia Soul, but I am drawn to vehicles that look different (have an identity of their own). I even test drove one. I really liked it, but the fuel economy was the turn off for me. I can accept lower fuel economy from my manual AWD Subaru Forester, because it doing things for me my Mirage can't do. I am not sure a Kia Soul would climb my winter ridge roads any better than my Mirage, nor would a Soul pull my trailer all that well.

My Mirage has been a nice compliment to my Forester. I use my Forester when needed & rack up the miles on my Mirage when I don't. I have a daughter & son-in-law that live in Finland. When they visit the States, I have a vehicle they can borrow. That was sort of my excuse for buying a second vehicle, too.

I hope your wife & you enjoy your new Mirage. After owning mine for 3 years now, I wouldn't hesitate to buy another one.

[gregsfc]

It's odd that I never consciously calculated my OTD price until yesterday by adding the trade-in vaue I received to the amount financed with nothing down. It comes out exactly at the same quote as I got sixteen months ago for a 2019 ES Mirage and also exactly what we paid OTD for the used Soul (also sixteen months ago) $13.1K. I guess this must be what we like to pay for a commuter car. Thanks for this site.

[Mark]

It's odd that I never consciously calculated my OTD price until yesterday by adding the trade-in vaue I received to the amount financed with nothing down. It comes out exactly at the same quote as I got sixteen months ago for a 2019 ES Mirage and also exactly what we paid OTD for the used Soul (also sixteen months ago) $13.1K. I guess this must be what we like to pay for a commuter car. Thanks for this site.

$13,100 (Soul purchase) + $13,100 (Mirage purchase) = $26,200 - $7,400 (Soul trade in) = $18,800

Paid $18,800 for your current commuter car (which is now a Mirage) in the past two years?

[Fummins]

That's nothing! You should see what the wife owes on her Sorento after trading in her car that she still owed money on lol. They said they gave her around $15,000 for a trade in. Once we got home and crunched the numbers......They gave her nothing for the car and just added the previous loan to the new one. What a bargain!!