Get exclusive money-saving offers and guides
Straight to your inbox
By signing up, you agree to the Finder
Privacy & Cookies Policy
and
Terms of Use, Disclaimer & Privacy Policy.
Types
Car Reviews
Guides
Mitsubishi finance options
Find out how to finance your Mitsubishi and compare loans now.
We’re reader-supported and may be paid when you visit links to partner sites. We don’t compare all products in the market, but we’re working on it!
Mitsubishi is a Japanese automotive manufacfturer and the 16th biggest carmaker in the world. The company was founded in 1970 and is currently part of the Renault-Nissan-Mitsubishi Alliance.
What's in this guide?
Mitsubishi models available in Australia
There are currently 10 new Mitsubishi models available for purchase in Australia, including a hatchback, sedan, SUVs and utes.
- Triton
- Pajero
- Pajero Sport
- Outlander
- Outlander PHEV
- Mirage Hatch
- Triton 18
- Eclipse Cross
- ASX
- Lancer
Compare car loans
How much does it cost to buy a Mitsubishi?
The purchase prices of popular Mitsubishi models are as follows:
- 2019 Mitsubishi Mirage ES Manual: $14,990
- 2019 Mitsubishi Lancer Manual: $20,990
- 2019 Mitsubishi ASX Manual: $23,990
- 2019 Mitsubishi Outlander ES Manual: $28,990
- 2019 Mitsubishi Pajero Manual: $49,990
Other costs to consider
- Maintenance and repairs. You will need to cover the cost of any repairs or servicing, so it's worth keeping your car in good working condition to avoid any unnecessary repairs.
- Insurance. You're required to purchase compulsory third party (CTP) insurance to be able to drive in Australia. There are also other insurance products to cover incidents of theft, fire or any other accidental damage. The price of insurance varies based on the type of insurance you require, as well as your own driving history, age and gender.
- Fuel. You will need to cover the cost of any fuel you use, which is determined by how much you use the car, as well as the fuel efficiency of the model you choose. The ATO defines a fuel-efficient car as one with a fuel consumption of less than 7L/100km. According to Redbook, the 2019 Mitsubishi Mirage ES Manual has a fuel efficiency of 4.7L/100km, whereas the 2019 Outlander ES Manual has a fuel efficiency of 7L/100km and the 2019 Pajero GLX Auto has an efficiency of 9.1L/100km.
- Stamp duty. You will need to pay stamp duty when you purchase a new or used car, and this will vary by state or territory. You can estimate what you'll need to pay using our vehicle stamp duty calculator.
- New car extras. Optional add-ons such as automatic transmission and leather seats can add significantly to the overall purchase price of your vehicle.
- Cost of finance. If you plan on using a car loan or other finance option to fund your Mitsubishi purchase, you will need to factor in the cost of the finance as part of your overall costs. See below for more information on your financing options.
What type of financing options are available?
There are a variety of options to choose from when you're looking to finance your Mitsubishi. Some of these include:
- Secured car loan. A secured loan has a more competitive interest rate as your new Mitsubishi is used as security, so there is less risk to the lender. However, there are restrictions with these loans as you're usually only able to purchase a new car or a used car that is up to six years old. The age restriction varies from lender to lender. Secured car loans generally range from $5,000 to $100,000.
- Unsecured personal loan. An unsecured personal loan doesn't require to you use the vehicle as security against the loan. You will generally receive a higher interest rate than on a secured loan.
- Dealership finance. Mitsubishi has a range of personal and business finance options that can be tailored to your financial situation. It offers a number of personal loan options with balloon payments as well as various business finance options such as salary packaging.
- Novated lease. This agreement between you, your employer and a finance company allows you to make your car repayments pre-tax, giving you more disposable income and less stress about making repayments.
- Chattel mortgage. A chattel mortgage is where funds are advanced to you and the finance company retains title of the car until you pay off the loan. A chattel mortgage is an option to consider if you want to use a vehicle primarily for business (50% or more).
Factors to consider when financing your Mitsubishi
Some of the features that will help you decide between your finance options include:
- The interest rate. Remember to compare the interest rates on similar loans. To give you an idea of the true cost of your loan, look at the comparison rate. This includes the interest payments plus fees.
- Fees (upfront and ongoing). Whether a loan has an application fee, a monthly charge or a steep late repayment fee will be factors to consider, as these all add to the cost of your loan.
- Repayment flexibility. Lenders will generally allow you to tailor your repayments to your cash flow, whether that be weekly, fortnightly or monthly. The ability to make extra repayments will also bring your interest down, but check if you can redraw on these if needed.
- Balloon payments. This is an amount (usually $5,000 or more) that is deducted from your principal and must be paid in a lump sum at the end of your loan. Balloon payments usually come with dealership finance loans. While a balloon payment reduces your regular repayment amounts, you will need to keep it in mind as you pay off the loan. Check if your loan requires this before making a final decision.
Other questions to consider
Should I get a used or new Mitsubishi?
There are pros and cons to both. For example, a new car comes with no faults and a warranty, but it can be a big expense and devalues quickly. If you decide to go with a used car then you may be able to get a better model for your budget and it will depreciate more slowly, but try to learn as much as you can about the car's history and any faults before making a decision. Also be aware that you may not be able to get a secured loan on a used car, depending on its age.
Where do I find the features of a loan?
If you're trying to find this information on a lender's website, the features should be clearly listed with the interest rate. If you can't find them, maybe give that one a miss. Most lenders are more than happy to tell you about the benefits of their loans, but remember to look closely at any costs as well.
Are there other business options for me if I want to purchase a vehicle?
You have the option to choose between a chattel mortgage, a financial lease, a commercial hire purchase or a novated lease. If you want to know more about these options, click here.
Mitsubishi reviews
Not completely sure if you want to buy a Mitsubishi? Compare it with its competitors by reading our car reviews and comparisons.
More guides on Finder
-
Jeep Compass Night Eagle review
Introduced as part of a revised 2020 line-up of vehicles, the Jeep Compass Night Eagle is the starting point in the Compass range, but you probably wouldn't guess it.
-
Upcoming hybrid and electric car comparison
Compare soon-to-launch electric and hybrid cars.
-
How to keep your NBN plan when moving house
Happy with your current NBN plan? Find out what NBN relocation services are available for keeping your NBN provider when you’re moving.
-
Pasta maker Finder: Take the effort out of DIY pasta making
If you’re searching for the perfect pasta maker, here’s how to compare your options before you buy.
-
2021 Mitsubishi Eclipse Cross PHEV revealed
Mitsubishi unveils new 2021 Eclipse Cross Plug-In Hybrid SUV
-
2018 Toyota HiLux Review
Looking to purchase a 4x4 ute? It might be worth adding the 2018 Toyota HiLux to your shortlist.
-
Electric bikes for off-road use
If you’re looking for an off-road e-bike, we’ll show you how to compare your options and find the right bike for your needs.
-
Volvo XC40 Recharge Plug-in Hybrid Review
We really liked the combustion-engine-only XC40 when we drove it earlier in the year, so how does this plug-in hybrid compare considering you do pay a premium for the Recharge version?
-
2020 Hyundai IONIQ Electric review
If you want a thoroughly practical electric car, the Hyundai IONIQ Electric is one of the most affordable and usable battery-powered models.
-
2020 Toyota Camry review
Four expert reviews of the Toyota Camry in one
Car Loan Offers
Important Information*
Ask an Expert
