Mirage Markup Insanity

[Mark]

Attachment 22511 Carvana is offering me more for my car then when I bought it new with 0 miles. Crazy. It would be really tempting if everything wasn't out of stock and overpriced.

I remember the Nissan dealer I was talking to laughing about the Mirage and saying it wont keep its value

Years ago, some people would chuckle or make funny comments about my little pop yellow 1990 Ford Fesitva (designed by Mazda, built by KIA, and sold by Ford). My most common response was - It can't depreciate any more than what I paid for it." When I sold it 14 years later, it still hadn't depreciated more than the $5,300 I paid for it brand new.

$5,300 for a brand new car sounds cheap today, but $5,300 in 1990 is equal to $11,271.40 today (after figuring in yearly inflation adjustments). In that respect, my 2017 Mirage was a cheaper purchase than a 1990 Festiva, & a 1990 Festiva L was a very basic car. It didn't even come with a radio, speakers, or an antenna.

People can think whatever they want about a Mirage. If I drive mine for 10-15 years, I am not aware of any other vehicle on the market that would have less overall depreciation. A highly discounted Spark would be close. Cars are money pits, & I like shallow ones!

[Fummins]

"WHITE BEAR WHITE BEAR WHITE BEAR WHITE BEAR WHITE BEAR WHITE BEAR WHITE BEAR WHITE BEAR WHITE BEAR WHITE BEAR WHITE BEAR WHITE BEAR WHITE BEAR WHITE BEAR WHITE BEAR WHITE BEAR WHITE BEAR WHITE BEAR WHITE BEAR WHITE BEAR WHITE BEAR WHITE BEAR WHITE BEAR WHITE BEAR WHITE BEAR WHITE BEAR WHITE BEAR WHITE BEAR!!!!"

Yes, we get it! They are good dealership that usually has good prices and usually has lots of inventory. But they are 1,716 miles away from me and most other forumers! And guess what? Their prices and inventory seem to be the same as everyone else's right now.

The video you linked to was posted back in early March...that was almost ten months ago. Things...have...changed. This is what White Bear has on their site right now...




Yes, they have EIGHT Mirages at a starting price of $16,500 and they have a bunch of them on order...like every other dealership. It doesn't really matter what kind of deal this person or that person got in Kentucky or Minnesota or Florida or Ohio back in 2016, back in 2019, or back in March.

IT IS ALMOST 2022. NOBODY IS SELLING NEW $10,000 MIRAGES ANYMORE. NOT EVEN WHITE BEAR.

So why keep pointing out 'the good old days'?

Attachment 22512

[Mark]

Attachment 22512

I was hoping some forum drama would pull you out the abyss!

Hope all is good!

[Cobrajet]

Apparently, I pushed a button there. Most of my posts are meant for anyone reading the thread. This is a thread about the insanity of today's prices. Sometimes, it pays to shop around, & WB is not the only good place to shop. They are nothing more than a good example for the Midwest.

My next door neighbor in Wisconsin also lives in Seattle, Washington. She makes the drive from Seattle to Wisconsin & back quite often. If a dealership is willing to save me $4,000+ on brand new car purchase (which is a huge percentage for a Mirage), I would surely consider a one-way ticket to them. I am not suggesting that's for everyone in the least.

Great deals don't exist anywhere these days, & I believe I stated that. Carvana's pricing of Mirages being sold are a prime example of the insanity that currently exists. They, however, are not the only example. Sadly, I don't see the economy turning around any time soon. Sorry for ticking you off.

Good luck with whatever you decide.

Lol, I was not trying to go full 'Karen' on you, brother!

If anyone had these cars for 2016 prices I would either fly out and make a road trip home or gladly pay the $1200 it would cost to have one shipped to my door rather than pay what my local dealerships are asking nowadays. But this simply isn't an option given the current market, which seemed to be the issue we weren't understanding each other on. You acted genuinely exasperated by the idea that I or anyone else would even consider buying a Mirage for today's fair market value given what they used to sell for months or years ago.

I know....they were CHEEEAP.

But the automotive market is much more challenging today...especially for people who are 'frugal'. Hope there are no hard feelings, and I hope none of us are put in a position where we have to replace our Mirages. It is just a terrible time to buy a car.

[Cobrajet]

Attachment 22511 Carvana is offering me more for my car then when I bought it new with 0 miles. Crazy. It would be really tempting if everything wasn't out of stock and overpriced.

I remember the Nissan dealer I was talking to laughing about the Mirage and saying it wont keep its value

Back in the summer of 2020, during the height of the "COOFdemic" and the ensuing self-imposed economic slowdown, I was in negotiations with a dealership about an hour away from me on a leftover Starlight Silver 2018 G4 5-speed. I was still making money, even though it seemed like nobody else was, and it looked like they really wanted to move some steel. It was advertised at one of those incredulous 'loss leader' prices with lots of fine print, and I quickly discovered they would not honor that price. Undetered, I thought it would still be worth pursing the car if I could get it for $10k OTD. We unsuccessfully ended our negotiations at $10,400...only $400 away from making a deal.

I should note that I had NO immediate use for this car. My plan was to put it under a cover and park it next to my house just in case I ever did need it. This is what Carvana would give me today for my as-new, unused, "spare car"...



Yes, if I had spent that extra $400 I would be able to sell the car today for nearly 50% more than I paid for it. But who could have predicted that buying an unneeded cheap car in the middle of a pandemic would turn out to be such a lucrative investment?

[davidricardo86]

Okay so we can all agree prices of new and used Mirages went up like crazy, but so did all other vehicles, correct?

And If the prices of all other cars went up too, doesn't that mean that the Mirage is STILL the cheapest, most fuel efficient non-hybrid new car you can buy?

If the main goal is to buy the cheapest new car on the market today, regardless of hyperinflation and ridiculous high prices, what other choice do you have?

With the Fed's holding interest rates near zero for the next couple of months, wouldn't borrowing money now be the wisest thing to do while the loans are cheap?

[Mark]

Lol, I was not trying to go full 'Karen' on you, brother!

If anyone had these cars for 2016 prices I would either fly out and make a road trip home or gladly pay the $1200 it would cost to have one shipped to my door rather than pay what my local dealerships are asking nowadays. But this simply isn't an option given the current market, which seemed to be the issue we weren't understanding each other on. You acted genuinely exasperated by the idea that I or anyone else would even consider buying a Mirage for today's fair market value given what they used to sell for months or years ago.

I know....they were CHEEEAP.

But the automotive market is much more challenging today...especially for people who are 'frugal'. Hope there are no hard feelings, and I hope none of us are put in a position where we have to replace our Mirages. It is just a terrible time to buy a car.

I really embrace the affordable, reliable, & economical traits of the Mirage. The affordable part has been attacked by the current auto market for sure. ​

I feel for anyone that needs to buy a car right now, too. I haven't reached the point where I have accepted that this is the new norm for car prices. In time, I may get there?

A Mirage is my beater car. I am only willing to pay so much for one. My Mirage is not my only car. If a Mirage is someone's primary vehicle, that changes things, too. I get that!

[Mark]

If the main goal is to buy the cheapest new car on the market today, regardless of hyperinflation and ridiculous high prices, what other choice do you have?

I could buy a brand new 2021 Mirage ES manual for less than $11,000 OTD earlier this year. $18,990 + closing costs for the same car slightly used today is not something I would consider. I would be looking at used crap!

I bought a brand new updated Mirage, because there were $7,500-9,500 (depending on which rebates/incentives one qualified for). It made me question why I was looking at used crap?

It depends on what you are willing to spend on a car like the Mirage?

[davidricardo86]

I could buy a brand new 2021 Mirage ES manual for less than $11,000 OTD earlier this year. $18,990 + closing costs for the same car slightly used today is not something I would consider. I would be looking at used crap!

I bought a brand new updated Mirage, because there were $7,500-9,500 (depending on which rebates/incentives one qualified for). It made me question why I was looking at used crap?

It depends on what you are willing to spend on a car like the Mirage?

But Mark used car prices are up like crazy too so how much are you actually saving by going that route? I've seen used Mirages going for more than new! I think used private party cars maybe where you can find the cheapest price but you will have to come up with the whole amount upfront. Some people are looking to finance and do not have say $5k, $10k or even $15k upfront.

I agree with your second statement about why buy used when a new Mirage was the better deal even back then. Right now prices may be high but at least the loans are cheap, interest rates are low and the Fed is printing money like it's going out of style. But they said they're going to taper that back in 2022. So maybe that means the prices of Mirages (and other cars) will come down some? Maybe, i don't know.

[Cobrajet]

But Mark used car prices are up like crazy too so how much are you actually saving by going that route? I've seen used Mirages going for more than new!

Truth! You aren't going to find a nice, tidy, 180,000 mile 2005 Camry for $3000 right now. They are more like $6000. EVERYTHING is expensive.