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By KBB Editors
Updated December 23, 2019
If you are looking for a sleek, sharp-handling compact car with a comprehensive warranty, you’ll find the Mitsubishi Lancer worth a look.
While the Lancer’s sub-$16,000 starting price may appear attractive at first glance, value-driven buyers may favor the equally priced Hyundai Elantra and Kia Rio for their additional standard features and superior fuel economy.
For 2012, Mitsubishi introduces a new SE trim with standard all-wheel drive (AWD), heated seats and outside mirrors, a continuously variable automatic transmission, and the GT model’s more powerful 2.4-liter engine. Additionally, the Lancer Sportback no longer offers a manual transmission and drops the performance-based Ralliart edition from the lineup.
The 2012 Mitsubishi Lancer sedans and Sportback wagon are perhaps the sportiest cars in the profoundly competitive compact-car segment. While there are plenty of more-fuel-efficient choices in the category, few can match the vibrant driving experience and diverse model range provided by the Lancer. From the basic ES sedan to the versatile 5-door Sportback to the high-performance Evolution variant, the Mitsubishi Lancer is an enticing carrot for compact-car shoppers searching for something practical that also looks and handles like a sports car.
2012 Mitsubishi Lancer pricing starts at $6,286 for the Lancer DE Sedan 4D, which had a starting MSRP of $16,490 when new. The range-topping 2012 Lancer Evolution MR Sedan 4D starts at $16,197 today, originally priced from $38,490.
Original MSRP | KBB Fair Purchase Price (national avg.) | |||
---|---|---|---|---|
$16,490 | $6,286 | |||
$18,290 | $5,402 | |||
$19,690 | $6,335 | |||
$20,640 | $5,384 | |||
$20,990 | $5,882 | |||
$22,735 | $7,283 | |||
$29,385 | $9,550 | |||
$35,290 | $17,981 | |||
$38,490 | $16,197 |
The Kelley Blue Book Fair Purchase Price for any individual used vehicle can vary greatly according to mileage, condition, location, and other factors. The prices here reflect what buyers are currently paying for used 2012 Mitsubishi Lancer models in typical condition when purchasing from a dealership. These prices are updated weekly.
In order to make a small car ride as well as it handles, engineers must sometimes manhandle the laws of physics. Judging by our test drive in the Lancer GT model, it would appear the engineers have won the battle. On twisting mountain roads, we were impressed by the GT’s composure, as well as its tenacious ability to cling to the pavement. When not tearing through unpopulated mountain passes, we found the smooth and less noisy ES trim to be far more compatible with daily driving needs. Although the ES’ cabin is less raucous than in the GT, it still let’s in a fair amount of wind and engine noise.
Despite its aggressive and modern styling, the Lancer’s sleek exterior design, unfortunately, does not carry into the cabin. The interior’s stale design and its abundance of hard, cheap plastics are the Achilles’ heel of the Lancer. Taller drivers will find the seating position uncomfortable due to the Lancer’s lack of a telescoping steering wheel and the minimal thigh support provided by the short seat bottom. The GT and Ralliart trims feature the most appealing interior, with a leather-wrapped steering wheel and shift knob, deeply bolstered front seats, chrome interior door handles, and high-contrast gauge faces. Rear-seat legroom is surprisingly generous, and the Sportback’s flexible configuration delivers an impressive 52.7 cubic feet of cargo space – comparable to many small SUVs.
The 2012 Mitsubishi Lancer separates itself from the mundane designs of traditional compact cars with its bold stance, aggressive snout and rally car inspired styling. Mitsubishi says the massive front grille was inspired by the air intakes found on high-tech fighter jets – the same source of inspiration behind the Lamborghini Reventon. The base DE model rolls on 16-inch steel wheels while the ES/SE and GT/Ralliart models wear 16-inch and 18-inch alloys, respectively. Chrome accents, color-keyed body pieces and exterior features vary by trim level, successively growing nicer as the dollar signs move upward.
Voice-Activated HDD Navigation
The Lancer’s hard drive-based navigation system responds more quickly than traditional DVD-based units. It also features Mitsubishi’s new FUSE voice-recognition software for simple multimedia commands.
Keyless Entry and Start
The available FAST-Key system lets you lock, unlock and start the Lancer without ever removing the key fob from your pocket or bag.
Since the base DE trim lacks the essential creature comforts one would expect from a $16,000 vehicle, we’d recommend taking a step up to the ES, as it adds air conditioning, power door locks, steering-wheel-mounted controls, an auxiliary audio input jack for portable music players and remote keyless entry. Designed for the Snowbelt states, the SE model adds all-wheel drive, a more powerful 2.4-liter engine and heated seats to the mix. GT models gain 18-inch alloy wheels, a sport-tuned suspension, automatic climate control, FUSE voice-recognition software with Bluetooth hands-free phone capability, a USB port for MP3 players, and sport seats. The Ralliart boasts a 237-horsepower turbocharged engine, all-wheel drive and a 6-speed twin-clutch Sportronic Shift automatic transmission. The high-performance Lancer Evolution features a 291-horsepower turbocharged engine with all-wheel drive, large Brembo brakes and Recaro racing-style front seats.
Some of the Lancer’s most desirable options are a hard-drive navigation system and the Deluxe Package which includes FAST Key keyless entry and start, a 710-Watt Rockford-Fosgate audio system with a USB port, FUSE voice-recognition and a sunroof. A continuously variable transmission (CVT) serves as the automatic transmission option for the workaday Lancers, while a twin-clutch Sportronic Shift automatic is available for the Evolution.
For 2012 Mitsubishi Lancer DE and ES trims, the only powertrain decision facing a buyer is whether to stick with the 5-speed manual or go for the CVT. The SE and GT trims, however, get a more robust 168-horsepower 2.4-liter engine, which shows noticeable improvements over the outdated 2.0-liter in the areas of vibration and low-end torque. The CVT-equipped GTS model includes steering-wheel-mounted paddle shifters. The Ralliart trim gains a turbocharged 2.0-liter engine good for 237 horsepower, while the Evolution model whips out 291 horsepower and 300 lb-ft of torque.
2.0-liter inline-4
148 horsepower @ 6,000 rpm
146 lb-ft of torque @ 4,200 rpm (Sportback: 145 lb-ft of torque @ 4,200 rpm)
EPA city/highway fuel economy: 25/34 mpg (manual), 26/34 mpg (automatic), 24/32 mpg (Sportback)
2.4-liter inline-4
168 horsepower @ 6,000 rpm
167 lb-ft of torque @ 4,100 rpm
EPA city/highway fuel economy: 22/31 mpg (manual), 23/30 mpg (automatic), 22/29 mpg (Sportback)
2.0-liter turbocharged inline-4
237 horsepower @ 6,000 rpm
253 lb-ft of torque @ 2,500-4,750 rpm
EPA city/highway fuel economy: 18/25 mpg
2.0-liter turbocharged inline-4
291 horsepower @ 6,500 rpm
300 lb-ft of torque @ 3,000 rpm
EPA city/highway fuel economy: 17/23 mpg (manual), 17/22 mpg (automatic)
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Year | Vehicle Depreciation* | Resale Value | Trade-In Value | ||
---|---|---|---|---|---|
2022 | $58 | $6,041 | $4,085 | ||
2023 | $527 | $5,514 | $3,424 | ||
2024 | $844 | $4,670 | $2,396 | ||
Now | $504 | $4,166 | $1,963 |
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2-Year Forecasted Depreciation
*Depreciation for the last 12 months of the private party resale value.
Annual Depreciation is an estimation of what your vehicle's value might be over time based on an average of similar vehicles. Estimations are calculated by comparing Kelley Blue Book Private Party Values of vehicles similar to yours over time, as well as forecasts from Manheim Auction data comparing current and projected auction values against current Kelley Blue Book Private Party and Trade-In Values. This is not a guarantee of actual depreciation. Local weather conditions, market factors and driver performance will also impact your vehicle's actual depreciation.
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Curb Weight | 2866 lbs. | ||
---|---|---|---|
EPA Passenger | 93.5 cu.ft. | ||
EPA Total Interior | 105.8 cu.ft. | ||
Fuel Capacity | 15.3 gallons | ||
Front Head Room | 39.6 inches | ||
Front Leg Room | 42.3 inches | ||
Max Seating Capacity | 5 | ||
Minimum Ground Clearance | 5.5 inches | ||
Overall Length | 180.0 inches | ||
Front Shoulder Room | 54.7 inches | ||
Trunk or Cargo Capacity | 12.3 cu.ft. | ||
Turning Diameter | 32.8 feet | ||
Wheel Base | 103.7 inches | ||
Gross Vehicle Weight Rating (GVWR) | 4079 lbs. | ||
Width with mirrors | 69.4 inches |
Alloy Wheels | Available | ||
---|---|---|---|
Fog Lights | Available | ||
Moon Roof/Sun Roof | Available | ||
Number of Doors | 4 doors | ||
Rear Spoiler | Available |
City | 26 mpg | ||
---|---|---|---|
Highway | 34 mpg | ||
Combined | 29 mpg |
Drivetrain | FWD | ||
---|---|---|---|
Transmission Type | Automatic | ||
Recommended Fuel | Regular |
Horsepower | 148 @ 6000 RPM | ||
---|---|---|---|
Torque | 146 @ 4200 rpm | ||
Engine | 4-Cyl, 2.0 Liter |
Basic | 5 years / 60000 miles | ||
---|---|---|---|
Powertrain | 10 years / 100000 miles | ||
Corrosion | 7 years / 100000 miles |
Used 2012 Mitsubishi Lancer | Used 2016 Dodge Dart | Used 2015 Chevrolet Sonic | Used 2012 Volkswagen Passat | ||
---|---|---|---|---|---|
Price | $5,402 | $4,980 | $4,610 | $5,046 | |
KBB.com Rating | 2.9 | 3.8 | 4.5 | 4.1 | |
Consumer Rating | 4.5 | 4.2 | 4.0 | 4.5 | |
Fuel Economy | City 26/Hwy 34/Comb 29 MPG | City 25/Hwy 36/Comb 29 MPG | City 25/Hwy 35/Comb 28 MPG | City 22/Hwy 31/Comb 25 MPG | |
Fuel Type | Gas | Gas | Gas | Gas | |
Safety Rating | 4.0 | 5.0 | 5.0 | 5.0 | |
Seating Capacity | 5 | 5 | 5 | 5 | |
Basic Warranty | 5 years or 60000 miles | 3 years or 36000 miles | 3 years or 36000 miles | 3 years or 36000 miles | |
Horsepower | 148 @ 6000 RPM | 160 @ 6400 RPM | 138 @ 6300 RPM | N/A | |
Engine | 4-Cyl, 2.0 Liter | 4-Cyl, Tigershark, 2.0L | 4-Cyl, 1.8 Liter | 5-Cyl, PZEV, 2.5 Liter | |
Drivetrain | FWD | FWD | FWD | FWD |
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2012 Mitsubishi Lancer city/highway fuel economy ratings range from 17/22 mpg to 26/34 mpg, depending on trim and equipment.
Used 2012 Mitsubishi Lancer prices currently range from $5,402 for the GT Sedan 4D to $17,981 for the Evolution GSR Sedan 4D when purchasing from a dealership, depending on a range of factors like equipment, mileage, and condition.
The cheapest 2012 Mitsubishi Lancer is the GT Sedan 4D, with a Kelley Blue Book Fair Purchase Price of $5,402.
The 2012 Mitsubishi Lancer is part of the 2nd-generation Lancer, which our owners give an above-average reliability rating of 4.7 out of 5.