Used Cars: Poor Mitsubishi Brand Resale Values, new car rebates, mitsubishi outlander

Question
I am looking at buying an used SUV for a growing family. Narrowed the search down to a Honda CRV, Mitsubishi Outlander, Subaru Forester and the Ford Escape. Comparing these models (2009+ versions ), it seems that the Mitsubishi resale values take a big hit with age/miles, compared to the rest. Reading the forums and consumer reports, it is not a bad vehicle (safe, reliable, cheap) and suffers from the same issues like the rest (noise, substandard interior). However, the 'experts' rate it as average and butcher the resale value. It seems that issue is more of a historic brand problem, than a particular model. I am wondering where is this coming from? Appreciate any help on this. Thanks

Answer
Hi Confused ...let me explain the problem with Mitsubishi's branding.

I agree with you ...they make great rigs and we have historically bought them at discounts to book value that can only be described as 'epic' lol Here is why: back in the early to mid 2000's and continuing forward at varying degrees Mitsubishi bought their way into the market by offering ridiculous new car rebates and other factory incentives like 0% financing for 60-72 months, or do you remmber the hugely popular "no payments for 12 months" special? Whenever a new car is being offered with a $5,000.00 rebate" or even better (0% financing for 72 Months" (which is worth even more money i.e. 40k for 72 months @7.50 interest is equal to over 10 grand in savings) With all of that in mind ....Here is your answer.

When a new car sells at a discount due to huge rebates or sub vented rates in order for the late model pre-owned and program type cars to compete with them they also have to be discounted to a similar degree. Think of it as a used car rebate caused by having to compete with a new car rebate. I hoep that makes sense. Add to that the fact that Mitsubishi, like most automakers had a few models (lower end cars) that were junk. I agree with you on the SUV's though!

Roger

Ask any follow ups you want I am all yours until you are able to give me a perfect survey and lots of bonus points lol!!