I walk out of the grocery store, and there, parked next to my brand-new '04 Mitsubishi Galant, is a late-model Nissan Altima. The edgy, high-backed Altima was a breakthrough design when it debuted two years ago, a sexy, exciting entry among usually dull midmarket sedans. And the Galant measures up pretty well. Sure, Mitsubishi had a couple of years to improve on Nissan’s work, but being in the Altima’s ballpark is still a nice attainment.

A timely one too. Mitsubishi has gotten stuck selling cars based on irresisitble deals and easy credit, backing itself into a corner framed by lackluster vehicles and bad loans. Now the Japanese automaker is trying to resuscitate its image with cars people want to buy, period, without having to rely on fire-sale prices. The Galant is a step forward. On the road it is stable and smooth, in the same league as the market-leading Toyota Camry and Honda Accord (except for an annoyingly wide turning radius). It is relatively quiet too, a sign that there’s solid manufacturing underneath, along with unseen amenities like noise-dampening insulation. The LCD display in the center of the dash has a cool animated quality to it, a hip touch that has been a welcome addition to other Mitsubishis like the Endeavor SUV. The most upscale Galant interior, while not elegant, has a rough urban-chic edge.

Mitsubishi is not being shy when it comes to pricing either. Instead of positioning the Galant as the bargain in the crowd, Mitusbishi is pricing it squarely between the Camry and Accord. The base Galant lists for less than the entry-level Camry, for instance. At the top of its model line, Mitsubushi is asking about $500 more than Toyota asks for one of the most dependable cars on the road. Honda undercuts the Galant at the bottom, with a stripped-down Accord that few people buy. But the top-tier Accord is about $600 more than the Galant. Unlike the Galant, the Accord also comes with fewer or no discounts, according to the car-shopping site edmunds.com–reflecting market power that Mitsubishi doesn’t yet have.

All of that means that the Galant is right in the mix as a viable option for sedan hunters. I’d argue that the Galant has a higher cool factor than the aging, sedate Camry, and for the slighly higher asking price the Mitsu comes with enhancements such as 17-inch tires (versus 16-inchers on the Camry) and a walloping 270-watt sound system. But it also has a rougher, 4-speed automatic transmission instead of a slicker 5-speed, and a bit less refinement on the inside. The higher-priced Accord, by contrast, is modern and sleek and every bit as stylish as the Galant, with a better reputation behind it. And there are plenty of other sedans, of course, that offer more or less pizazz for the money you’re willing to spend. The question is whether the Galant rightfully belongs at the top of that mid-market list. If I were considering buying one, I’d probably test whether the dealer is still in the habit of shaving a couple thousand off the price to convince me. Then it would be a deal for sure.