Cheapest Used Mitsubishi Cars - Lancer, Galant, Eclipse
There are some car makers which have experienced difficulty planting themselves in the American car buying public's consciousness. Sometimes, smaller car companies become so well known for a specific range of products or perhaps one vehicle in particular that when the time comes to expand their lineup it is difficult for consumers to separate the brand from an identity which has been so closely associated with a specific area of the market. This can lead to confusion and disappointment on the part of drivers who don't understand why an automaker's minivans don't offer the same level of sporty performance as their coupes.
Mitsubishi presented a dual personality to most buyers throughout the 1980s and 1990s, first developing a reputation for solid entry-level coupes and hatches before branching out into turbocharged compact and full-size coupes that began to broach a higher price level. The disparity between Mitsubishi's marketing and public perception of their automobiles was in part related to a somewhat schizophrenic importing strategy which saw confusing badge-engineered Dodge and Chrysler editions of their vehicles dilute their overall image.
With the passing of the year 2000, Mitsubishi saw the opportunity to streamline their product offerings for a new decade, especially when it came to the least expensive models in their showrooms. This helped the company claw their way back from obscurity and begin to capture more positive attention from first-time car buyers.
This article takes a look at the three least expensive automobiles currently sold by Mitsubishi, and holds them up against older versions of the same model in order to see whether buying used or new provides the best value. Local availability can play a significant role in determining the price of a vehicle, and while used car prices are not set in stone, the numbers quoted here are intended to provide a starting point based on a low-mileage car in good condition.
2004 Mitsubishi Lancer versus 2009 Mitsubishi Lancer
The 2009 Mitsubishi Lancer has come a long way in the seven years since it was first released in North America. Boasting a much more aggressive styling not all that different from the Evolution X sports car which serves as Mitsubishi's halo car, the base Lancer comes in at $14,000. For this price, buyers get a 2.0-liter 4-cylinder engine that produces 152 horsepower along with 143 lb-ft of torque. A 5-speed manual transmission is standard equipment, as are power windows and a CD player.
The 2004 Mitsubishi Lancer is a much more reserved looking compact sedan, without the flash of the current model. The previous generation Lancer is also outfitted with a 2.0-liter engine, only without the same engine and valve management as its new brother. This means that horsepower and torque are reduced by 32 ponies and 13 lb-ft, respectively. Equipment levels are comparable across both vehicles, but the difference in price between the 2004 Lancer and the vehicle prominently on display in Mitsubishi showrooms today is significant - a Lancer with around 40,000 miles can be picked up for only $8,000.
Some buyers may be put off by the older Lancer's lack of power. However, stepping outside the base model car can land careful shoppers a 162 horsepower Ralliart edition of the same vehicle, with a few more miles, for around $11,000 - still $3,000 under the current base model.
The serious styling differences between the old and new Lancer have created a wide gap price gap that is of huge benefit to frugal buyers looking to pick up either an economical fuel saver or a quick and fun sport compact. The 2004 Mitsubishi Lancer is a much better buy than the 2009 for anyone on a tight budget.
2005 Mitsubishi Galant versus 2009 Mitsubishi Galant
The mid-size 2009 Galant retails for $21,000 and is the next rung on the Mitsubishi new car ladder. The entry-level Galant ES comes with 2.4-liter 4-cylinder engine that uses variable-valve timing to generate 160 horsepower. A 4-speed automatic handles the gear shifting duties, but drivers can intervene through its manual shift Sportronic feature. With an extensive list of power equipment (mirrors, windows, door locks) and standard anti-lock brakes, the Galant ES is a fairly complete package even in base form.
The 2005 Mitsubishi Galant rides on the same platform as the most recent model, and uses the same 2.4-liter drivetrain and auto tranny. In fact, there are almost no real differences between the 4-year old Galant and the 2009 edition - until prospective buyers reach into their wallets. At that point, the most glaring discrepancy becomes obvious: a low mileage 2005 Galant that is still under warranty from Mitsubishi can be purchased for around $13,000.
An $8,000 dollar savings is extremely hard to ignore, particularly given that the new Galant ES offers no real improvement over previous years. It is hard to say what has caused this dramatic drop in the Galant's resale value, other than the fact that the mid-size sedan market is quite crowded and it is difficult for manufacturer's to differentiate themselves when the needs of drivers are so homogenous. What is abundantly clear is that paying full sticker for a sedan that will see almost half of its value go up in smoke over a 4-year period is not an appealing proposition for most car shoppers.
The 2005 Mitsubishi Galant is far and away the better buy in terms of value and savings over the 2009 model. With a shared chassis, engine and body style, there is little financial sense in paying so much more for the privilege of owning a new sedan.
2005 Mitsubishi Eclipse versus 2009 Mitsubishi Eclipse
The Eclipse was at one point Mitsubishi's flagship sports compact. While that title might have been usurped to some degree by the much pricier yet small-proportioned Lancer Evolution X, the 2009 Mitsubishi Eclipse has undergone a re-design which captures some of that original lightning in a very attractive bottle. The least expensive version of the Eclipse, the GS, combines hot curves with a 162 horsepower version of Mitsubishi's ubiquitous 2.4-liter 4-cylinder and a 5-speed manual transmission. Priced at just $20,000 the Eclipse features keyless entry, power windows and door locks, air conditioning and 17 inch alloy wheels to go along with LED tail lamps.
The 2005 Mitsubishi Eclipse has a very different look, one that is more wedge-shaped and less organic but which has proven to be quite popular nonetheless. Built on a separate platform, the 2005 Eclipse is not as common on the used market as some of the other inexpensive Mitsubishi products. However, diligent buyers can find Eclipses with less than 40,000 miles in the $12,000 range. Even cheaper examples are out there if a more concerted effort is made. Interestingly, this price point covers both the high line Eclipse GTS coupe and the Spyder convertible editions of the car, which each feature a 200 horsepower V-6 engine and either a manual or automatic transmission.
The difference in cost between a high performance version of the 2005 Eclipse coupe or convertible and the 2009 model is quite compelling. In fact, probably the single greatest sticking point when deciding between the two generations would be styling. Some drivers adore the earlier Eclipse, while others much prefer the more modern look. If aesthetic tastes can be satisfied by the older Eclipse, then it presents a superb buy on the secondhand market, especially for those looking for a fun convertible.