Conventional knowledge says that the Nissan Versa is the cheapest new car in America. Starting at $18,330, it’s a tough price to beat. But that’s under normal circumstances. Under abnormal circumstances that are in play right now, you can buy a dirt-cheap hydrogen car or spend as little as $14,000 and get yourself a brand new Mitsubishi.
Those abnormal circumstances involve the dying gasps of the Mitsubishi Mirage. The 2024 model year was the last for both the hatchback and the Mirage G4 sedan. After a decade on sale, the cheap subcompact will no longer be exported to the US, though it remains in production for other markets.
Despite the Mirage’s American demise, there is still a sizable amount of stock available across the country. There are around 3,000 of these cars on sale right now. Some of them are now devastatingly cheap as dealers look to run out the last remaining examples.
For whatever reason, the cheapest examples of the Mirage G4 sedan are all found down in Florida. Performance Mitsubishi gets awfully low, with a 2024 Mirage for just $13,997, and that’s ignoring the military discount that won’t apply to most customers. Meanwhile, there’s another over at Bomnin Mitsubishi for $14,200. Miami Lakes Automall still has a 2023 model on the lot, and it’s going for just $14,769 if you prefer a slightly older one for some reason. Either way, all of these cars have a few thousand bucks in cash on the hood to try and get these cars moving off the lot.
You can get the hatchback cheap, too. Palm Beach Mitsubishi has a 2024 Mirage ES for just $12,621, a full $5,699 discount on the sticker price of $18,320. They’ve got a 1.3 star rating on Cars.com, though, so one suspects that price might be a little too good to be true. If you’d rather go somewhere else, North Miami Mitsubishi has a hatch in yellow for $13,910, while RC Hill has a white one for $14,895.
Outside of Florida, pricing is less aggressive, but there are still deals to be had. Down in Georgia, Mitsubishi of Augusta has a Mirage G4 ES for $16,495, a touch cheaper than the $19,115 MSRP. Leskovar Mitsubishi has a similar deal up in Washington, as does J&S Mitsubishi in New Jersey.
For your money, you’re getting a car with a 1.2-liter, 3-cylinder engine, good for 78 horsepower and 74 pound-feet of torque. It’s not much, but for a car that weighs 2,084 pounds, it’ll get you moving down the road. On the plus side, it’ll do 35 mpg in the city and 41 mpg on the highway, which should keep your fuel bills low like your repayments.
It’s true that the Mirage is a cheap car, hardly overburdened with comforts and equipment. Still, you’re not getting an entirely ancient vehicle. Android Auto and Apple CarPlay have been standard across the range since the 2021 model year. You’re also getting power mirrors, power windows, keyless entry, and a parking camera. The former are mostly because it’s become cheaper to go that way due to economies of scale; the latter because it was mandated by federal authorities. Regardless, it’s all in there.
Despite its age, the Mirage’s last official model year was surprisingly successful. While sales had slowed to just 13,219 units in 2023, Mitsubishi sold a full 29,766 units in 2024. Right now, though, Car Edge notes that there are 3,418 examples on sale, with just 705 sold in the last 45 days. That equals around 218 days of supply, meaning you’ll be seeing Mirages on dealer lots well into the summer unless something drastically changes.
It’s funny to think, though, that the Mirage was actually up for sale for just $14,295 as recently as 2021. That was before inflation came in and kicked over all our toys, of course. It’s nice to see that, despite the base-price increase a few years back, you can still score a new one for cheap.
If you didn’t want a Mirage last year, you probably still don’t want one now. They’re cheaper than most new cars and come with a 10 year/100,000 mile powertrain warranty, but they’re unfashionable and offer little in the way of thrills or charm. [Ed Note: I disagree about the charm. I think these cheap little econoboxes are charming as hell, and I’m not alone! -DT]. They’re still a better buy than the Toyota Mirai, which retails for around $17,000, but that’s mostly because you can drive one across the country.
Image credits: Mitsubishi, Cars.com via screenshot
I assume they are not selling in Florida because everyone seems to drive leased BMW’s down there.
Honestly, if I could get a Ralliart with a manual I’d be at least test driving one. Sadly they are all CVTs…..
My grandfather recently bought a mustard yellow hatch, for 14 grand. It’s automatic and a base model. He lives in Florida so I have yet to drive it, but I’ll be interested in seeing it when he visits.
Dude, America starts at Alaska and ends in Tierra del Fuego.
Adjust your geography accordingly.
Three cylinders plus a CVT. What’s not to love? At least there’s no turbo to fail in old age. IIRC I saw an article on one of these that ran nearly 300,000 miles as a delivery vehicle and most internal parts of the engine still looked pretty good.
Had a mirage as a rental.
It’s a bit more relaxing to drive if you wear earplugs, as not only is the engine loud, but there is so little insulation, cars simply passing you on the freeway are pretty raucous, too.
That said, it’s the most fun I’ve had in a rental.
Huge windows, easy to park, so small it feels like you’re in the road.
It’s up there for me with the Fiesta, Polo, and Fit, but it gets points for feeling the most raw and insane.
I had a rental once and I hated it. Felt like I was driving a roller skate and everytime a truck passed me on the highway the car shook violently from the wind. Shame because I owned a Fiesta ST at the time and I was excited to try this.
As someone who has had substantial seat time in all the small cars people mention as alternatives to the Mirage, along with some competition (in price, if not in size), I agree with folks’ observations: the Mirage is loud, plastic, agricultural, not engaging to drive, you name it. It was/is also a small and cheap new car, and I will miss it for that reason alone, even though I’m in the fortunate position of not needing a car that checks those boxes.
I would also argue that it compares favorably to the competition:
The Fit is magic – bigger on the inside, fun, and friendly. Easily the best car of the bunch. Unfortunately, very much subject to Honda tax – for new Mirage money, you’re looking at something with >=80k miles on the clock, and that is a pretty well-loved used car.
This is also true of the Yaris – Mirage money buys you an XP130, not one of the later Mazda2 based ones, and the transmission in those is the only time I would’ve preferred a CVT. The engine is gutless and even at high revs, it’ll scream without doing much of anything in terms of acceleration. The Yaris is also comically unstable in a crosswind.
Going down in size, the Chevy Spark that died a year before the Mirage is a much more refined experience (and my current daily). It also barely has room for four people, and those four people need to not mind getting friendly with each other.
The Fiat 500, with roughly the same footprint as the Spark, has even less interior space – the back seat is only usable by double amputees. You’re also looking at a less used, but still used car with Italian reliability…
…Yeah a new Mirage is unironically a good buy. No, it doesn’t have resale value; doesn’t matter if you drive your cars until the wheels fall off. And they will not fall off sooner than off a 10-year-old Yaris.
[Lastly, and this is something that irrationally pisses me off (I think Torch can relate) – for the love of all that is holy, can we please stop pretending that, even in the automotive arms race that American highways have become, a small hatchback with 70 hp is somehow “unsafe”? It can hit highway speeds on an on-ramp (and if it doesn’t, does it matter, when the grandpa in front of you comes to a complete stop at the yield sign, despite having three times the power), and maintain them. I love high-powered cars. You do not need one to “keep up with traffic”.]
Agreed. I drove a 1990 Pontiac Sunbird with 96 HP (that figure, of course, was from when it was new 35 years ago) eight hours from western Kentucky to Detroit, Michigan last September for RADwood 2024. If I can do that, there’s no reason a Mitsubishi Mirage roughly the same horsepower but with the addition of a slew of airbags is “unsafe.”
Albeit, I rented a 2018 Mitsubishi Mirage from Enterprise for an hour drive home once and found its NVH and refinement levels remarkably similar to the aforementioned Sunbird.
Unsafe isn’t a single definition. A motorcycle with antilock brakes and traction control is a lot safer than one without, but it is still far less safe than driving a new Mirage.
Sure the Mirage is safer than just about anything from the 90s but given the massive weight of the average new vehicle it still is in the bottom of the current safety chart.
True, but I think (or at least I was) we are discussing acceleration and ability to merge onto the expressway and not get ran over (literally) by Karens in Tahoes, not really crash-worthiness.
Nothing wrong with a Mirage, especially now that there are incentives to push the price to a more rational 15k or so. No, a 9 year old Corolla is not necessarily a better buy. If you’re in the market for something like a Mirage, you’re just looking for dirt cheap transportation with a warranty. You’re going to be willing to overlook the lack of quality. I’ve been in this buying segment before, and I think it sucks that when the Mirage is gone, many will be stuck with the Versa as their only choice (until that’s gone too). The hatch versatility is a big deal at this price point.
But it’s a Mirage….
Spending money on this car is flushing money down the toilet. Sure you’ll have a new car with a warranty but it’ll be relatively worthless once paid off.
Eh, if it still runs and drives and hasn’t rusted out, it’s still useful to the owner. This is a car people will keep until the wheels fall off.
You’re scheming on a thing that’s SABOTAGE!
Ah crap this made more sense when your comment was just “But it’s a mirage…”
True, but for many better cars they lose the full MSRP of this Mitsubishi the minute they are driven off the lot.
It’s hard to complain about something at this price point. Even with a residual value of $0 several years on it’s still a good buy for many.
who cares cars are transportation and not investment property. if a family can drive it reliably for many years because it not an ab-used car and get to work, school and the store, who cares piece of mind is worth a lot to some people.
We test drove a Mirage when my stepson was buying a car. I can say that the Mirage definitely does not rule. In fact I found it to be just short of scary when it was on the highway or near another car. YMMV tho, I guess.
Beyond echoing the comments below that you should avoid buying a car from within the state of Florida, the best way to look at the prices of a car such as this is the monthly payment, not the sales price.
Take an average-at-best credit rating, minimal down payment, and estimate a monthly payment. These new cars will likely be a decent amount less than a 7-year-old Honda Fit with 60k miles. Especially given the interest rate. Yes, the Honda is a much better car, but if you are just looking for the lowest $/mile, these are likely a better deal.
The one huge caveat is the interest rate the dealer is willing to give at that price.
The good news is even if the advertised price is tied to financing through the dealer, you can refinance later with a less predatory lender.
That’s a good point and true for those who have access to less predatory lenders. However, that might not be very common for cars at this price.
Yeah I would be curious to know how many cars like this are purchased by lower income folks as primary transportation vs bought by relatively affluent parents as low-risk cars for their kids to drive.
Anecdotally, I see mostly younger women driving Mirages, but I suppose they could fall into either camp.
I was going to recommend this, most manufacturer financing only requires 60-90 days before you refi (or you pay back the incentive!). Every state is different, but there’s a surge of community credit unions nationwide and hopefully most buyer can roll it over to them quickly…or if the manufacturer financing is truly a good deal, stick with that.
I agree with DT – the Mirage is charming as hell. So is the Yaris, the Mazda2, the Versa, etc.
It’s an entire class of vehicles where the decision making and compromising is on full display.
And it’s a real reminder of how much excess we purchase, for one reason or another.
I spent a good long time looking over, under, in, and all around the last Mirage I had as a press car. It’s easy to deride it – the platform is a bit on the old side, some of the features feel kind of lashed-atop the architecture, but the features ARE THERE, nonetheless.
I love that it’s a triple. Triples are charming. Yes, obviously you have to plan when you’re driving a low powered car – that’s not a flaw, it’s just a reality, and it’s no reason to ding the car.
The Mirage isn’t a ton of fun in the slow car fast sense, but I think that’s mostly down to tires and wheels. It’s pretty roomy for its footprint, and it’s very efficient. It has the obvious hallmarks of a car built for a different market and brought here to be a low cost option (and object of scorn).
Honestly, it’s a great car in what’s probably my favorite segment. I’m sure there’s going to be the critique “but will it be reliable?”
Well, it’s a new car, with a 10 year, 100K mile warranty. So that’s pretty good versus the crapshoot of used. Sometimes, people need a car they don’t have to worry as much about and this is the right choice for a variety of reasons.
There’s a massive value to having a fixed cost form of transportation. Crummy, but predictable. If you don’t have the cash on hand to deal with a used car powertrain failure, sometimes buying a cheap new car is the right choice.
It’s especially the right choice for people who have a tendency to be convinced into “segment creep”, where a cash strapped individual purchases something used that exceeds their needs over something new that meets their needs. Often under the guise of that the used, nicer car was a better value because the used car brings more features and capability for the same price. The number of people I know that refuse to drive a small economy car and instead go for a similar payment on an 8 year old SUV is staggering. And a few years later I have to hear about how their 11 year old SUV shit the bed and they can’t afford to fix it while still making payments.
Dudes who buy well-used German cars because they “look cool” and then pass out at said German cars’ repair bills would like a word.
Haha. I think we all see that a lot (and some of us experience that a lot) but that’s no surprise. I don’t think a lot of people are given the advice “dude, don’t buy a Corolla, you can get a 12 year old S5 for the same price!!!”. Or at least you wouldn’t give that advice to your mom.
I do however, see a lot of people genuinely believing that it’s a smart decision to buy a 7 year old Grand Cherokee instead of something like a Civic.
Well said. Not everyone has the overconfidence to think they will find the perfect used car. It’s interesting how so many people think that any used car they buy will be perfect and never have any problems. not everyone’s that lucky.
so so well written thanks!
After reading this I looked at inventory for the hell of it. Surprisingly (or not) one step above the base trim to LE adds rain sensing wipers and moving up to SE will add heated seats. (There are no SEs within 100 miles, or at least not hatchbacks – even I wouldn’t sink to the level of the sedan – and I’d have to go through a tunnel for the closest dealer without a BHPH vibe.) I’d probably find myself willing to spend more for something nicer or less for a trustworthy used car, but there is a place for these things.
I hope there is not a lot of hate against this car. I know some people would rather murder a busload of children than buy a new car. This is enough car for a lot of people that need reliable transportation. Many do not have the cash to buy a used car and gamble that it will be reliable and not break them by breaking down. They do not have the skill or space to repair it and still get to work. Please do not hate on people who are not gearheads who need decent transportation and are not as lucky as you are.
Oof, $12-15k buys a damn nice lightly-used Toyota or Honda. A lot nicer.
Is it still easier to get financing on a new car than a used car?
Yes. And the interest rate on a new car is lower.
and that is one reason someome may choose a new cheap small car vs a bigger used car. thanks.
Lightly used, but a decade old 🙂
These cars (like the Versa) are really for people who want a warranty, really good financing terms, and can roll negative equity into them. It’s a sad combination, but I’m also thankful it exists.
There are so many free enterprise concepts that I call “one step away from welfare” — from entry-level Walmart jobs to the Mitsubishi Mirage. I hate that they have to exist, but I don’t criticize them, either. At least someone can get their kids to school and drive to work without major breakdown fears.
Well said. I have been in those situations (but not the negative equity part) In 1999 we bought a new Hyundai accent for $10k and our cousin and husband bought a used malibu for $10k at the same time. We had it for 11 years and it was fantastic. They had nothing but trouble and expensive repairs.
I understand that these cars help lots of people become mobile, but I will not miss the Mitsubishi Mirage. Had one as a rental. It was the most miserable thing I’ve ever driven with a year that started with 20**.
By the time I had the misery of renting it, it had only 20k miles? In the mornings, it had valve clatter until the industrial sounding 3 banger made oil pressure. Accelerating to 70mph on the freeway was an adventure in not dying. The AC couldn’t keep the car adequately cool in the AZ Summer, so I was sweaty at all times. Oh, and it might have gotten 30mpg?
The only nice thing I could say about this steaming pile is that Carplay connected quickly.
Goodbye Mirage.
Consumer advice: Buy a Honda Fit (any year is good). Or a Yaris.
Are there actually cars for sale under 15k? Maybe they aren’t really there, perhaps it’s some kind of optical illusion. I wonder if there’s a word for that?
Opticar illusion.
NEVER, Never, never trust the advertised price of a car from a dealer in Florida. They all lie!
Also, I would be suspicious of old stock from a dealer in Florida. I’m envisioning these cheap and unpopular models being left on the low ground while they move the more profitable ones up out of the storm surge.
NEVER, Never, never buy a flood car! You can’t replace enough bad parts to make it reliable again.
Truth. And you know that there’s some mildew (and possibly saltwater) in nooks and crannies that you’ll never get cleaned out, even if you reupholster the whole thing.
When I was much younger I had a car at the dealership for service when the town flooded. They called and said my car got a little water in it but offered to fix it up for me and since I was young and stupid I agreed. They kept the car for a couple of weeks and what I got back…smelled like it had been scrubbed and vacuumed every day of those 2 weeks but they missed the ashtray which still full of water. Within a couple of months of getting it back the radio died, the driver seat rusted in place and couldn’t be moved, the driver side door handle mechanism broke inside the door, the check engine light came on, and the transmission lost 4th gear. The dealership claimed this had nothing to do with the flood and refused to fix any of it and said none was covered by the warranty. Luckily one of the service managers heard me arguing and called me after I left and told me how to take it to an independent shop to get the warranty work done then sell it. I get the feeling she wasn’t supposed to tell me any of that.
The best way to check if a car has been flooded is to look under the seats and under the dash for rust. Lots of metal braces under there that never expect to see water so they rust quickly and are difficult to replace.
They 13-14k examples do exist. My grandfather, who lives in Orlando, bought one for 14 grand a little bit ago. I believe he bought it pre-hurricane season too.