Last post on Nov 22, 2012 at 3:00 AM
You are in the Mitsubishi Montero
What is this discussion about?
Mitsubishi Montero, SUV
#1146 of 2830 THE FALL IN THE VALUE OF OUR INVESTMENT
Aug 10, 2001 (8:36 pm)
I have to agree with sergio. I own, retract, have been making payments on a 2001 Montero for 6 months and paid $34,000 + Tax & Lic. I now owe about $8,000. more than I could sell the rig for. I really think Mitsubishi knows they have a roll over problem that's why they do not want to go to court and prove they do not have a roll over problem. They would lose and have to fix all the existing 2001 Monteros. That's $$$$$ and they don't want to spend it, pure economics some CEO is taking the ultimate gamble and hoping it will just blow over. I would bet a months wages, they know the fix, weather it's new sway bars or different shocks, etc. ; but they are just too cheap or their pride is too big to step up to the plate and fix the problem. Just like the Tobacco Industry denie, denie, denie. When you or me shed enough blood with roll overs and they get sued and layers use the CU report and other tests to prove Mitsubishi negligence, they will painfully fix the problem.
I plan to keep mine till it rolls over or otherwise dies big time and will never buy another Mitsubishi or recommend it to a friend.
Disgusted with Mitsubishi!
#1147 of 2830 I still want one !!!
Aug 10, 2001 (11:41 pm)
I am still going through all the craziness that has to be attended to after a car wreck. I have a rental car and some hope that after the police see my pictures of where I was positioned I will be vindicated. I will then try to settle the auto part. The injury part is a lot more complex as I'm a manicurist and my neck and arms are doing popping and some pain. Have to go in for an MRI-- really wish I had hit her in my dream car--the crash energy would have been absorbed by the Monty, not me.
I almost bought a Black Beauty off E-bay.Very nice people offered it to me for 30999.Before the wreck, I had made the decision to wait a year and paid for a vacation in Mexico for 2 people. In order to buy a car and have reasonable payments,I would have to wait, and I didn't want them to put off prospective buyers any longer.Someone is going to get a incredible car. Joel said he paid 42000- extra tires came with it, deflectors, rear air,registration till April. Eat my heart out!!! Husband told me to get my head out of the clouds-yeah, so...I got a 100% loan with a new bank preapproved at 6.95- for a used car not too bad.Then I got uncertain about my condition when Dr said he might have to take me off work. I can tell This Monty is not meant to be mine. Some day, I will be able to purchase the license plate frames that say: C.U.,Kiss my pituti; and, upside down : If you can read this, flip me over!
Bye for now - Tourist Girl-
#1148 of 2830 fall in price
Aug 11, 2001 (3:12 am)
let me get this straight. You paid 34,000 and only owe 8,000 after 6 months and you cannot get even $8,000 in a re-sale? to get a 2001 montero for under $8000 would be the bargain of the century (at least the century so far).
you either had a whopping down payment or you left off the "2" before the "8"
#1149 of 2830 RE: Serg
Aug 11, 2001 (6:57 am)
>>My main problem is with the COMPANY and it's lack of response to a real problem that goes beyond the relevance of CU's report:
THE FALL IN THE VALUE OF OUR INVESTMENT.
A car is not only a tool but also an investment.<< Well let me ask you this: How would you respond if someone were to level an Incorrect accusation against YOU? ie. Well your honor, I didn't rob that Bank but I will pesonally make sure they are repaid every penny that was lost. That could very well be what your asking Mitsu to do. In addition, Your believe that a Car/ Truck is an investment is way off. Now if you were buying something that was going to "Show" at Pebble Beach, Maybe - but even then you'd have about a 60% or more chance of losing money. Cars are NOT an investment. Those who believe they are get into big trouble. They often justify a purchase based on the belief of "Investment" and end up doing something they can't afford. Mercedes? Sure, It'll last forever and cost me less money in the long term. WRONG! Upside down and bankrupt because they wanted to "Justify" and satisfy an emotion. I'm upset that my resale value is likely going to sufffer. I'm just more open to who is actually at fault for it. I've not decided who is to blame yet but I do think the Mitsu response was the most rational explaination so far. Drew
Aug 11, 2001 (8:22 pm)
Sergio, please dont take my comment too negative. It is so easy to be misunderstood with email
I do agree with you to a point. I too wish Mitsu handled the issue better and I think it is this that will hurt them more than the true safety issue with the Montero.
I have friends just waiting to try to find a 2001 Montero at the deepest discount possible and hoping all of this focus on Mitsu really does drop the prices. Many are knowledgeable 4wders who believe like I do that many SUV's can be made to roll the way that driver did for CU.
As far as investment I have stated in the past and agree with cct1 that NO vehicle is and investment. The way I see it if you want to resell frequently so that you can be in a new vehicle all the time then leasing is the way to go. If you by and hold for say 7 years then counting on slower depreciation really wont help you much. I think even the best vehicles lose too much over that time period for me to even be concerned.
I try to hold for longer periods, my GSR is on year 7 and running strong, paid off and now if at anytime it is "paying itself off".
I realize some may buy then sell before 7 or so years and thats a tough situation if you are planning for resell. I just hope those of you doing that are richer than I.
Aug 11, 2001 (8:27 pm)
I wish you a full and speedy recovery.
#1152 of 2830 resale example
Aug 11, 2001 (8:39 pm)
Well, it seems that the hoopla as not affected the Kelly Blue book yet.
I looked up the 2001 montero and Toyota FR, Land cruiser and sequoia resale not yet rated although those are more expensive. Anyway, with 10K miles, excellent condition and equiped the same the Montero went from purchace of about 36900 dealer price to 29035 tradein. The toyota went from more than the montero to a resale of 28,450. So it seems at least for now that the toyota dropped faster that the montero.
Oh, and I should add that neither drop to me seems to be too bad and different than I would expect although we would all like these things to hold thier value but this is not realistic.
And, I do like toyota products so I am not trying to pick on them I just think that this is a good vehicle to compare to because they are goo.
For those worried about resale we will have to wait a few more months and recheck.
#1153 of 2830 Montero Ltd 4 wheel drive
Aug 13, 2001 (8:03 am)
As an owner of a 99 Isuzu Trooper that has the TOD 4 wheel drive system that has made me a believer, I was curious about the 4 wheel drive system on the Monty Ltd?
In the Isuzu, when you engage TOD (can be engaged going as fast as 60mph, and driven up to 90, personal experience), anyway when you engage this mode, the engine shifts 13% power to the front wheels, and depending on driving conditions, acceleration, slip etc it "varies" the amount of power sent to the front wheels, up to 66%.
I test drove a Monty this weekend and the sales guys said that in the Monty, when you put it in the AWD mode it puts something like 33% power to the front wheels..but they never said anything about it being variable. Does anyone know if it varies the amount of power to the front wheels like the Isuzu Trooper does? thanks
#1154 of 2830 Another note on selling value
Aug 13, 2001 (8:08 am)
I told the Mitsubishi dealer this weekend I'd be interested in picking up a Monty Ltd, and they basically said they were selling at MSRP!!! They offered to "give" me the $1000 factory rebate, so it seems Consumer Reports hasn't hurt the price of New Monty's much. They said they sell most at or right around MSRP. Another dealer in another town said the same thing when I wpoke with him on the phone this morning.
Now, it also seems that used 2001 Ltd's are averaging around 28-29k, whereas used XLS's are going from around 21-23. This makes no sense to me? Why are the LTd's holding much more of their value?..
Anyway, thought this would be good news to some of you. I would like to buy a 2001 Ltd with low miles for about 27k..so thats what I'm holding out for... If anyone knows of one..drop me a line in this forum!
#1155 of 2830 FYI - Carlsbad ,CA.
Aug 13, 2001 (11:26 am)
Last weekends paper, LTD - $5500.00 off MSRP + $1000.00 rebate.