Buying a new shape MG5

[Jon542]

Hi there,
I’m looking at buying a new shape MG5 in the next 3-4 months, and was wondering if any of you fellows out there can advise if dealerships offer discounts these days for a cash deal? The last new car I bought was a Ford 15 years ago and got 9% off?.
Thanks in advance?

 

[szymon]

They actually point blank refuse to take more than £5000 in cash, the rest must be via a bank transfer.

 

[smokie]

Most dealers will laugh at the old fashioned" how much off for cash" line, it was hard enough just getting some mats for mine.

They'd generally prefer you take credit as they make some money on that.

 

[Jon542]

They actually point blank refuse to take more than £5000 in cash, the rest must be via a bank transfer.

Thanks very much for this information but it didn’t really answer my question?

 

[Lguk]

Thanks very much for this information but it didn’t really answer my question?

Well you did ask if they do deals for cash..
With all the money laundering laws paper money doesn't talk, and paying for a car without finance is likely to cost you the same, if not more.

These days everything is geared towards finance, as its the finance that earns them money.

Generally speaking the best deals to be had are some of the finance deals that have a 'contribution' from MG or Dealer, you can then clear the finance immediately after driving away your new car and not incur any interest charges. You of course need to be in a position that you have the available funds and the credit health to take out the finance deal. I've seen others take a finance deal at 6.9% then clear it with a 3rd party loan at 4.9% but that requires access to enough credit to buy the vehicle twice on paper.

Edit to add:
You mention 'in the next 3-4 months' are you aware of the very long lead times? If you want/need that car in 6 months time you should probably get the order in sooner than later.

 

[shiv]

Yep, it's true, dealerships make a lot more on finance because it results in a recurring transaction.
Once you buy on finance (PCP or HP), you go back to the dealer every year for serving, at the end of the term 2-4 years, you're encouraged to trade up to a new deal (new car or same car, different terms).

If you want to get a good discount off "new" cars, you can go down the pre reg route. You'd be looking at 5-10% saving off the list price.

With finance interest rates at 7%+, it's making less economic sense to buy anything on finance.

 

[weedavemac]

Hi there,
I’m looking at buying a new shape MG5 in the next 3-4 months, and was wondering if any of you fellows out there can advise if dealerships offer discounts these days for a cash deal? The last new car I bought was a Ford 15 years ago and got 9% off?.
Thanks in advance?

Dealerships no longer offer a discount for cash.

 

[mickw]

Dealerships no longer offer a discount for cash.

I got £250 off a MK2 MG5 Trophy - not a lot but better than nothing. That was paying by bank transfer so effectively cash (i.e. not a finance deal). It wasn't my nearest dealer - the best they would do is to offer £250 off the price of some body/interior treatment (GardX I think), wheareas the one I bought was genuinely off the price of the car only.

Regarding lead times, I ordered mine on 9th November and it is now at the dealership being prepared for delivery (I saw it stting there today so know he's not fibbing...). So that's just over 3 weeks from ordering to actually having the car. Don't know if that's representative, or maybe I got lucky with a cancelled order or something.

 

[mickw]

I bought a Ford CMAX in 2013. Agreed what I though was a good cash price, with some extras thrown in. When I walked into the dealer to sign up the paperwork he said Ford had just announced a 3 day deal where if I took their finance I got another £2500 off. I said I really wanted to pay cash, and he said just take the finance deal and then pay it all off in one go the next week with no early payment penalties - which I did.

Those were the days...

 

[weedavemac]

I got £250 off a MK2 MG5 Trophy - not a lot but better than nothing. That was paying by bank transfer so effectively cash (i.e. not a finance deal). It wasn't my nearest dealer - the best they would do is to offer £250 off the price of some body/interior treatment (GardX I think), wheareas the one I bought was genuinely off the price of the car only.

Regarding lead times, I ordered mine on 9th November and it is now at the dealership being prepared for delivery (I saw it stting there today so know he's not fibbing...). So that's just over 3 weeks from ordering to actually having the car. Don't know if that's representative, or maybe I got lucky with a cancelled order or something.

I suspect the dealer you went with would have also taken £250 off if paying by any other method, but well done on getting a discount.

 

[JohnInFrance]

All the while demand outstrips supply, as it does now, don't expect a discount whether paying by cash (bank TX) or credit/PCP as there will be a queue of people behind you any garage can sell to at full price.

 

[Jon542]

I got £250 off a MK2 MG5 Trophy - not a lot but better than nothing. That was paying by bank transfer so effectively cash (i.e. not a finance deal). It wasn't my nearest dealer - the best they would do is to offer £250 off the price of some body/interior treatment (GardX I think), wheareas the one I bought was genuinely off the price of the car only.

Regarding lead times, I ordered mine on 9th November and it is now at the dealership being prepared for delivery (I saw it stting there today so know he's not fibbing...). So that's just over 3 weeks from ordering to actually having the car. Don't know if that's representative, or maybe I got lucky with a cancelled order or something.

Fantastic information thank you very much.

 

[slmorgan42]

As mentioned above most do not take cash these days mainly for money laundering reasons.

It is true there is not much in the way of deals out there but never hurts to ask. e.g. free type 2, mats etc.

I did also get a decent part exchange rate.

My dealer had a few unallocated MG5 Facelifts coming in. Let me know if you want the dealers name.

 

[szymon]

Hah, I managed mats -- they point blank refused a free type 2 cable :-(

 

[mickw]

Carwow have 2 dealers offering £250 off the Mk2 Trophy. (One of them says the offer expires in 1 day)

Login | carwow.co.uk

quotes.carwow.co.uk

When I was looking for mine, carwow had one dealer offering £250 off but it was around 250 miles from home. I phoned the dealer and asked them to send me an email confirming the price. I then asked my local dealer to match it using the email as evidence. They wouldn't, do anything but the second nearest did match it, and that's what I bought.

Hope this helps someone.