In these wild times, the least expensive new car has become the new hot ticket. The chip shortage has squeezed the flow of production down to a trickle. As a result, the Mitsubishi Mirage, one of the least expensive new cars in the American market, has become a hot commodity. Never mind the fact that the majority of customers hate this little, joyless, economy box; one dealer saw the shot and marked up one new Mitsubishi Mirage by 33 percent.
How much does a 2021 Mitsubishi Mirage Cost?
That used to be a much easier question to answer. The Mirage has a starting MSRP of only $17,990. While it has been the shining example of an affordable car during all the new car shortages, it may change due to demand.
If 2020-present has taught us one thing, it’s that our high school economics classes were right about supply and demand; It is a powerful force, indeed. Given the wild demand for cheap new cars, one dealer decided to capitalize on the demand for the least expensive car on the market.
The least expensive new car just got more expensive
According to The Drive, Ole Ben Franklin Motors currently offers at least one Mirage with a markup that seems impossibly high. The Mirage goes for $17,990; however, This dealer has a brand new red one that they have jacked up by $5,995, to the stout price of $24,260 – for a Mitsubishi Mirage!
This kind of price-gouging madness is only one of many that are popping up all over the country. As far as we can tell, of the 35 Mitsubishi Mirages, this is the only one hiked up this far. However, that doesn’t mean that they aren’t getting around to it.
One of the employees told The Drive that all of them are marked up to some extent. It’s likely that if the marked-up Mirages start to sell, the rest of them will crawl to new heights as well. What’s funny is that not only is this one of the least expensive cars on the market, but this red one with the heavy markup is not even a top-trim model. There are other Mirage models on the lot that are better equipped and have higher MSRP.
Although the car lot’s site doesn’t have that marked-up price listed, the dealership confirmed that the tweeted price is correct when The Drive inquired.
Is the Mitsubishi Mirage a good car?
“One of least expensive new cars” is not exactly the best selling point. As you might expect, the Mitsubishi Mirage is not the most satisfying car on the market, but it is one of the cheapest. But once nearly $6,000 is tacked on, its one feather quickly gets plucked from its cap.
For instance, a customer could spend $24,260 on this red Mirage, or they could spend a little more than $1,000 extra to get a far superior 2021 Honda Civic EX. This isn’t the bargain barrel trim either. The EX is the third-highest trim.
You could also opt for a new Kia K5, which sits at $24,685. Although the market is insane right now, there is truly still no reason to buy a Mitsubishi Mirage, much less a marked-up Mirage. Once the budget gets into the mid-20s, the Mirage has almost nothing to offer.
Stay frosty out there, car shoppers. The money grabs are out there, and dealers are stressing (which is understandable), but that doesn’t mean you have to overpay for one of the least expensive cars on the market.