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Thread: You know, Mitsubishi has been the source of some hilarity over the years.

  1. #1

    You know, Mitsubishi has been the source of some hilarity over the years.

    Everyone knows that they have had the double stank of Nissan and Chrysler on them, but man they have done some stupid shit for a Japanese company. I think it was Scotty Kilmer who said that the engines are knowingly built with shitty internals with no real plan to make them even at Hyundai levels of quaility. But have you seen the kind of town that supports a Mitsu dealership? It's like the same community that can support a Roy Rogers. It's there because the competition won't bother.

    And then reading their wiki today I saw this:

    0𢠢
    In an effort to boost sales in the U.S. in the early 2000s, Mitsubishi began offering a "0𢠢" finance offer0% down, 0% interest, and $0 monthly payments (all repayments deferred for 12 months). Initially, sales leapt, but at the end of the year's "grace period" numerous credit-risky buyers defaulted, leaving Mitsubishi with used vehicles for which they had received no money and which were now worth less than they cost to manufacture. The company's American credit operation, MMCA, was eventually forced to make a US$454 million provision against its 2003 accounts as a result of these losses.[45] As a result, sales plummeted to 243,000 in 2003, 139,000 in 2004, 124,000 in 2005, and 119,000 in 2006.[46]

    Holy fudge. Subprime Mitsubishis! LOL
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    Senior Member AugustneverEnds's Avatar
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    Man, I'm surprised I haven't heard about the flakiness of Mitsubishi before. Kind of reminds me of Isuzu in the late 80s/early 90s: https://youtu.be/nJMq_7alQpU

    An ex-gf of mine had a 2001 Galant (this was around 2010-11) She was a 19 year old, broke, auto maintenance adverse Irish lass but that damn car felt pretty solid and was reliable after 160,000 miles. My ex neglected the timing belt, it snapped, her uncle replaced it and incredibly the little blue Mitsu kept on chugging along longer than our relationship.
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    "The Goat" Dead Lesbian Goat's Avatar
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    That's some crazy stuff I didn't know. I guess they learned the hard way never to trust the new car buying American public. I work on many different car lots and almost every person coming in to buy a new car should not be buying a new car.

    I would venture a guess that 80 to 90% of every new car sold is financed. The credit institutions make it so very easy to go into debt over a car. At the end of the term you have paid 35k+ for a 30k car that is now worth at best 20k. I guess all those people saw the depreciation after the first year and thought it just made better sense to give the car back for free vs. paying new prices for a 1 year old car.
    Three rules of DeLorean ownership:
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    Uncensored Hypocrite stevedmc's Avatar
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    Quote Originally Posted by Duplicate Account View Post
    In an effort to boost sales in the U.S. in the early 2000s, Mitsubishi began offering a "0𢠢" finance offer0% down, 0% interest, and $0 monthly payments (all repayments deferred for 12 months). Initially, sales leapt, but at the end of the year's "grace period" numerous credit-risky buyers defaulted, leaving Mitsubishi with used vehicles for which they had received no money and which were now worth less than they cost to manufacture.
    What you said along with them not honoring their warranty back in the early 2000s is spot on why Mitsubishi suddenly disappeared in the USA. They used to be the king of the cheap car market, now Kia and Hyundai have taken that place.

    For what its worth, I currently drive a 2014 Mitsubishi Mirage for work. It is basically the modern day version of the 3 cylinder Geo Metro. At 287,000 miles, it has been very reliable and cheap transportation. Nothing more and nothing less. I bought it because it has a 3 cylinder engine, timing chain, and manual transmission.

  5. #5
    Quote Originally Posted by stevedmc View Post
    What you said along with them not honoring their warranty back in the early 2000s is spot on why Mitsubishi suddenly disappeared in the USA. They used to be the king of the cheap car market, now Kia and Hyundai have taken that place.

    For what its worth, I currently drive a 2014 Mitsubishi Mirage for work. It is basically the modern day version of the 3 cylinder Geo Metro. At 287,000 miles, it has been very reliable and cheap transportation. Nothing more and nothing less. I bought it because it has a 3 cylinder engine, timing chain, and manual transmission.
    HOLY F*CKING SHIT. You have put almost 300K miles on it?
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    Quote Originally Posted by Dead Lesbian Goat View Post
    That's some crazy stuff I didn't know. I guess they learned the hard way never to trust the new car buying American public. I work on many different car lots and almost every person coming in to buy a new car should not be buying a new car.

    I would venture a guess that 80 to 90% of every new car sold is financed. The credit institutions make it so very easy to go into debt over a car. At the end of the term you have paid 35k+ for a 30k car that is now worth at best 20k. I guess all those people saw the depreciation after the first year and thought it just made better sense to give the car back for free vs. paying new prices for a 1 year old car.

    I think it's highly unfortunate the masses have been programmed to "sign on the line" to get whatever they want. I always joke about people in the US having a "royal" mindset; 'errbody is a King or Queen.

    I work with a guy who had a > $600/mo. pickup truck payment.....WTF?! He lives a mile from work and all of his friends & relatives have a truck. If I was him, I'd have a POS DD and borrow truck when needed.

    I've been teaching my kids from day 1 about debt and compounding interest (paid & received.) I use myself as a real-world example; I DD a well-used late model vehicle (currently a POS,) and don't have financial issues. We see people every day making payments on a super-gucci car they can't afford. TBH, if I lived in the south, I'd probably buy a new vehicle but I'd keep it until it made financial sense.
    Bro....do you own a DeLorean?


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    Quote Originally Posted by stevedmc View Post
    ~snip~

    For what its worth, I currently drive a 2014 Mitsubishi Mirage for work. It is basically the modern day version of the 3 cylinder Geo Metro. At 287,000 miles, it has been very reliable and cheap transportation. Nothing more and nothing less. I bought it because it has a 3 cylinder engine, timing chain, and manual transmission.
    That's impressive!

    What's the MPG?
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    Uncensored Hypocrite stevedmc's Avatar
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    Everyone around here has a truck payment of at least $600 a month. It抯 pretty ridiculous.


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    Uncensored Hypocrite stevedmc's Avatar
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    Depends on how I drive it. 70 mph on the highway. gets me about 44 mph. 55 mph driving gets me an honest 55 mph.

    Most of the time my gas mileage stays in the 40s.


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    "The Goat" Dead Lesbian Goat's Avatar
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    Quote Originally Posted by stevedmc View Post
    Everyone around here has a truck payment of at least $600 a month. It’s pretty ridiculous.


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    Even more ridiculous is I see new GMC Sierra/Chev Silverado window stickers approaching $100k.
    Three rules of DeLorean ownership:
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    2: A hammer is always the right tool for the job.
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