2003 Mitsubishi Montero 4x4 Limited on 2040-cars

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2014 Mitsubishi Mirage to carry $12,995 price tag*

If you've only got about twelve grand to spend on a car and you want something new, you've got options, but not many: You can get a Nissan Versa sedan for $11,900, a base Chevrolet Spark hatchback for $12,170, or - as Mitsubishi has just announced - a 2014 Mirage for $12,995.
Not only does that make it one of the cheapest new cars you can buy, but Mitsubishi also claims it's "the most fuel-efficient gasoline-powered non-hybrid vehicle in America," carrying an EPA highway fuel economy rating of 44 miles per gallon. But then that rating is for the CVT model, which will cost you an extra grand over the base five-speed manual version. The bog-standard DE model comes with features including automatic climate control, keyless entry and seven airbags, but for another $1,200 (with either transmission) you can upgrade to ES trim with a whole mess of other features. Regardless of which model you choose, though, you'll have to pay an extra *$725 for delivery ($920 if you live in Alaska or Hawaii), elevating the actual cost of entry to $13,720 in the Lower 48.

Subprime financing on the rise in new car sales, leasing too

We all remember the financial crisis that began several years back. At its core was a splurge of subprime lending for housing loans. The housing bubble burst, triggering a collapse of the mortgage-backed securities market. Apparently, those types of loans still exist in the automotive industry, and the market share for these types of "nonprime, subprime, and deep subprime," loans has grown 13.6 percent compared to the third quarter a year ago.
According to an Automotive News report, high-risk lending expanded to 24.8 percent of total loans in Q3, up from 21.9 percent for this time last year. As this level increased, average credit scores of borrowers dropped to 755, down from 763 a year ago. In that time, the average financing amount increased $90 per vehicle, to $25,963.
At 818, Volvo maintains the highest per-owner credit score, while Mitsubishi has the lowest, at 694. The highest rate of borrowers was at Toyota, with 14 percent of the market, followed by Ford with 13.1 percent and Chevrolet at 11.1.

Mitsubishi Mirage G4 sedan debuting in Montreal

Around this same time last year, Mitsubishi used the Montreal Auto Show for the North American introduction of its 2014 Mirage. This year, the Japanese automaker will reveal the sedan version of the subcompact wearing the Mirage G4 nameplate, according to the auto show's website and a couple of fresh teaser images.
We got our first look at this Mirage sedan as previewed by the Concept G4 at the 2013 Shanghai Motor Show, and the production version of that sedan ended up wearing the Attrage name in Thailand and other global markets. There's no official information from Mitsubishi at this time about the Mirage G4, but we wouldn't be surprised to see the small sedan follow the same path as the hatchback, showing up for a US debut at the New York Auto Show before going on sale in the fall. Check out the teaser images in the gallery below.