Thats what we did for both our Mirages, got bank loans for both. The only negative IMO is the way dealerships treat you after they find out theyre not making any $ on the back end. Longer wait times with salesmen, more bickering over added amenities, etc. Thats the only thing I can think of.
I typically buy 2-4 year old vehicles with relatively low mileage. Let someone else take the big depreciate hit. I wouldn't rule out a slightly used 2017-18, but what I found is the price for a new one isn't all that much different sometimes. Especially if Mitsubishi is offering huge discounts and wants to move them.
It has to be the right car for you, however. I like driving manuals & manuals are all I have ever bought. That limits one's options, especially in today's market. Mitsubishi dealerships aren't on every corner in my area. If I had driven around to multiple dealerships, I would have become frustrated.
I will be honest. The Mirage didn't "WOW" mean during the test drive. It's not that type of car. For me, it's a car that sort of grow on you. When you work on it (change oil and things), you appreciate the simplicity of it. When you drive it all week and can't get $20 in the gas tank, you really start to appreciate this car.
The warranty is nice, but I am encouraged by members who have owned these cars longer than me. Steve in particular. He has 250,000+ miles on his Mirage. He's received 50 free oil changes from the dealership he purchased it from so far. That dealership has dropped the Mitsubishi brand, but they are still honoring the deal. They use conventional oil (I would stick with recommended 0W-20 synthetic), & his car isn't burning any oil nor does it have any leaks. Steve rips on his "cheap plastic car", but it is serving him quite well!
$11,000-13,000 OTD may seem like a lot of money to someone that typically buys clunkers, but you would have a car that should last you a relatively long time. The same could be said of a slightly used Honda Fit or Toyota Yaris. A 130 hp Honda Fit isn't the same as a 78 hp Mirage. That's a 52 hp difference! Yet, the Mirage will get the job done. I sort like the charm of Mirage's power train, but it may not be for everyone. I totally get that!
I am glad we are being helpful! I hope you continue to explore the Mirage some more!
Personally, I just discuss OTD price. The OTD price is everything. You don't pay one dime more. If they are adding junk to the deal, their OTD price will suck! I don't allow financing to be a part of discussion. I would already know what my credit union can do for me before shopping for a car. I still have the email stuck in a folder. I was quote 2.49% for 60 months on a purchase of a new Mirage. I already knew up front what it was going to cost me if refinanced it a few months later as used, too! I was quoted 2.74% to finance a used Mirage, and when I refinanced it as a used car 3 months later it was at that rate. Ally gave me 4% rate for 60 months, & it cost me $30 dollars to pay them off and switch back to my credit union. I will admit my loan officer is a former student (small town service). She even suggested take the rebates and refinance with us later. General manager of White Bear Mitsubishi said the same after 3 months you can pay it off without penalty.
My brother wanted to replace his 2004 GMC pickup with a new discounted 2018 pickup this past spring. He wanted to pay cash. Financing the vehicle with GMC saved him another $5,000-6,000 on the deal. He'll pay off the loan on his 2018 GMC pickup with his third payment this summer.
My dad wanted to trade in his GMC Terrain for the new model that came out a year or two ago. He wanted to pay $12,000 cash with his trade. They wanted over something like $20,000 to boot. He tried to walk out three times on them. The first time, they miscalculated what his Terrain's trade value. The second time they overlook a rebate he was eligible for. The third time they told he could have it for $12,000 and his trade, but he would have to finance with GMC to get that deal. He financed the $12,000 and sent them a check for $12,000 with his first payment. My dad complained about that, because it delayed getting his title. He saved himself thousands of dollars, however. My dad & I shop differently. He's never used a cell phone let alone a computer. Either way the customer calls the shots!
Last edited by Mark; 06-21-2019 at 06:26 PM.
Adding to this discussion a bit more. The paperwork for my Mirage wasn't done right either, but the OTD price we agreed upon was right. In my case, they typed the wrong vin # on the paper work. We are at my kitchen table 4 hours from their office. I financed the $10,000 with them on line to get another $500 rebate. My OTD price was $10,153.70. I wrote the check for $153.73, & he gave me the keys. What else was he going to do? I hadn't signed anything prior to the delivery of the car. They sent me the proper paperwork in the mail with an envelope to mail it back. They moved numbers around some on the new paperwork, but the OTD price remained the same. MY check had already been written & the deal was already done!
[QUOTE=RyanGreener;89050] I normal
Last edited by Fummins; 02-14-2021 at 01:18 AM.
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View my fuel log 2014 Mirage SE wussie cvt edition. 1.2 automatic: 37.7 mpg (US) ... 16.0 km/L ... 6.2 L/100 km ... 45.3 mpg (Imp)
Yeah, we've only had one big warranty
Last edited by Fummins; 02-14-2021 at 01:18 AM.
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View my fuel log 2014 Mirage SE wussie cvt edition. 1.2 automatic: 37.7 mpg (US) ... 16.0 km/L ... 6.2 L/100 km ... 45.3 mpg (Imp)
Dealerships are interesting places, that's for sure. There is a multitude of reasons for why they are the way they are, thankfully my friend is the service manager at a dealership so if I'm ever too lazy to wrench on my car I just take it over there and he makes sure its a job well done.
Fummins (06-21-2019)