DB Go Rex
Prominent Member
It's a fair suggestion.Would pre-ordering an MG4 on say PCP direct through a dealer be something to consider?
In my experience, I did look at Tusker for a MG ZS LRT under a salary sacrifice scheme. Figures were acceptable, until I started looking into the sacrifice part for pension payments. It may only have been £38 per month, but then I thought that it could be that my employer will also pay £38 per month less in to my pot. In any case, i felt the pension sum was an issue to me, and even was looking into increasing my AVC by the same amount, to make up the short fall.
when i broke down the figures, and due to finance discount of £1500.00, a relatively small APR of 6.9%, I was only around £20.00 a month worse off under PCP. Less if I increased my deposit, which I will do. I did not get the grant, but seeing on here, many customers may well lose the grant anyway. Plus I would have equity at the end of the deal.
I am now looking at definitely changing my order for an MG4 LRT. This is currently four grand cheapest than the ZS (this is providing the finance company again offers £1500 discount, and I manage to Get 6.9% APR again). Once this is confirmed , I will be making the switch.
Do your figures include insurance and maintenance though?
Three things here though...
First, for me the pension, is something I may or may not ever make use of. Plus by the time I retire it's probably worth about 2 bread tokens a month. I don't put a lot of weight on it. Sure they'll be a slight loss in final amount.
Second, is risk. The PCP is a loan and I'm on the hook for it. If I lose my job, that's hitting my savings. If I lose my job on the salary sacrifice scheme, the car goes back. There's also the additional risks over final value and what happens after that.
Third, there's no way I'd join the waiting list for one pipe dream (an MG ZS EV) for another (an MG4). If I go a different route it won't be with an MG.