Good news for ecomodders: used Mitsu Mirages are selling cheap

[MetroMPG]

Good news if you've been eying the 3-cylinder Mirage as a potential future fuel sipper to drive & modify.

In terms of resale value, apparently they're the worst of the lot for 2014:

...the more practical Mitsubishi Mirage performed the worst, holding only 54.5 percent of its original MSRP

Source: NADA Used Car Guide
http://www.prnewswire.com/news-relea...300014562.html

(FYI, the new Corvette Stingray holds the most of its value at 84.7%.)

Rounding out the "bottom 5"...

• Fiat 500L Pop 1.4L I4 Turbo – 55.3% of value retained from MSRP
• Kia Cadenza Premium 3.3L V6 – 56.5% of value retained from MSRP
• Chevrolet Impala LS 2.5L I4 – 59.9% of value retained from MSRP
• Kia Forte Sedan EX 2.0L I4 – 61.8% of value retained from MSRP

But that must be dealer auction pricing, not retail. Otherwise we'd be seeing used base Mirages in the States for $6-7k, and that's certainly not happening. The lowest used Mirage prices we're currenty seeing are in the $8500-$10k range.

Also FYI:

See my base 5-speed Mirage review notes:
http://ecomodder.com/forum/showthrea...cyl-29176.html

See Tim's top spec CVT Mirage review notes:
http://ecomodder.com/forum/showthrea...eek-29685.html

.

[Cobb]

I wouldnt mind an Impala. Those are flexfuel too I believe.

Yeah, wholesale auction prices.

[War_Wagon]

There were two Mirages parked beside two CR-Zs at the auction this week, I should have taken a picture. I'll see if I can find out what they are going for in the wholesale world these days.

[Miller88]

Can't wait until they drop to $5k or $6k

[user removed]

Or maybe when one gets whacked in a superficial spot, but enough to send it to my favorite salvage disposal spot.

regards
mech

[MetroMPG]

Originally Posted by War_Wagon

There were two Mirages parked beside two CR-Zs at the auction this week, I should have taken a picture. I'll see if I can find out what they are going for in the wholesale world these days.

Oh that would be most excellent.

I know Mitsu Canada sold a couple hundred into rental fleets about a year ago, which would explain their appearance at the auctions now.

Also: used CRZ prices seem to be really low. I've seen a few retail ads that shocked me. (Under $10k)

Yeah, wholesale auction prices.

I read an explanation for the NADA depreciation values: the price differential is between MSRP and the average trade-in values by dealerships.

Which means the Mirage numbers are probably not actually the bottom of the bucket in reality, because most dealers are discounting the cars off MSRP. And the lower the initial MSRP (Mirage is 2nd cheapest new car in the US, tied for cheapest in Canada), the more discounts will affect NADA's formula.

Can't wait until they drop to $5k or $6k

I'd guess we won't be seeing retail prices like that for 2-3 years (for the base model).

[Fat Charlie]

Looks like Mitsubishi picked the wrong gas prices to introduce a high mpg mini car at.

[dirtydave]

Yayyy! Im going to buy one someday soon.

[Daox]

Originally Posted by Fat Charlie

Looks like Mitsubishi picked the wrong gas prices to introduce a high mpg mini car at.

We'll see quite soon as its the 2nd today. Sales figures will be out shortly. However, for 2014 they sold roughly double what they anticipated, so I'm sure they're happy.

[Fat Charlie]

Yeah, I forgot that they weren't looking for huge sales. That's a plus, it means they can keep it going for a long time!