MG4 Depreciation

[QLeo]

I got to wondering if there was a technical workaround, such as the choice of filesystem for the USB stick, and started a quick search. It seems MG are by no means alone in having limited options for USB music structures. But I'll try a couple of options and if there is any improvement, I'll report back

@Rolfe I tried a couple of disk partition types and formats - vfat an exfat formats against fat32 and ntfs partition types if you want the filthy details. But to no avail. Both types worked, but USB playing is extremely limited and much more like using an old cassette player. It was worth a try.

 

[Rolfe]

MG has a perfectly good USB player, in the Trophy. This is just ridiculous. We don't want faux-leather seats or a satnav or parking cameras or a wifi hub, but we do deserve a USB player that works.

 

[ukslim]

MG has a perfectly good USB player, in the Trophy. This is just ridiculous. We don't want faux-leather seats or a satnav or parking cameras or a wifi hub, but we do deserve a USB player that works.

Has anyone documented a folder structure that works?

 

[mg4mc]

Oh you mean the object... It's an 8 track cartridge. They ran in a loop so there was no end unlike cassette tapes and didn't need turning over.

But did have an annoying pause at the end of each loop segment.

 

[Diggsy]

You're worrying about getting your music to play in the right order on an USB stick, I can't even find anywhere to slot my music in.

View attachment 19698

Fairly sure I’ve a car stereo that takes these somewhere in the loft. Must dig it out at some stage…if it hasn’t been dumped already!

 

[dcweather]

I would always buy a car via PCP these days. It's almost always cheaper than buying cash or on HP with the incentives. It's like try before you buy. You can tell if they got the baloon payment right or not quite early on. At the end of my wife's yaris Hybrid term 2014-2018 they got it horribly wrong. She bought it for about 4k less than the market value at the time and it only reached the baloon value by 2022! SHe also got a big discount from a broker. My current Renault Captur is 18 months into a two year 0% PCP plan and it currently has £5k equity! If it works against you depreciation wise or you don't like it then just give it back. Of course you will have paid for the planned depreciation but not more - that's the advantage and you gamble you might save. Another tip is if you are not absolutely certain always under state your predicted mileage. The saving you make is roughly equal to the cost per mile you might have to pay if you go over. If you underestimate they don't give it back to you! Also if you settle early and sell the car to capitalise on the equity they don't usually check the mileage before you get the settlement figure.

 

[OriginalBigAl]

From buying cash, I,m thinking mine will be worth around 19000 euros in 5 years time. This is based on looking at prices of 2.0l golfs/ focus etc prices in 2017 and their current secondhand value today in France. I,ve tried to compare spec , performance, price, milage etc. 4 year old E-niros are still at 65% of the original price. Of course the secondhand market in GB is more competitive.

 

[bowfer]

I would always buy a car via PCP these days. It's almost always cheaper than buying cash or on HP with the incentives. It's like try before you buy. You can tell if they got the baloon payment right or not quite early on. At the end of my wife's yaris Hybrid term 2014-2018 they got it horribly wrong. She bought it for about 4k less than the market value at the time and it only reached the baloon value by 2022! SHe also got a big discount from a broker. My current Renault Captur is 18 months into a two year 0% PCP plan and it currently has £5k equity! If it works against you depreciation wise or you don't like it then just give it back. Of course you will have paid for the planned depreciation but not more - that's the advantage and you gamble you might save. Another tip is if you are not absolutely certain always under state your predicted mileage. The saving you make is roughly equal to the cost per mile you might have to pay if you go over. If you underestimate they don't give it back to you! Also if you settle early and sell the car to capitalise on the equity they don't usually check the mileage before you get the settlement figure.

Just picking up on your mileage comments.
If you do overestimate your mileage needs, as we did with our Evoque, you can adjust the miles per annum during the agreement.
The adjusted monthly figure is £40 less.
So we are getting money back for doing less miles, in a way.
Just saying you don’t have to wait until the end of the agreement to adjust miles PA up or down.

 

[bowfer]

From buying cash, I,m thinking mine will be worth around 19000 euros in 5 years time. This is based on looking at prices of 2.0l golfs/ focus etc prices in 2017 and their current secondhand value today in France. I,ve tried to compare spec , performance, price, milage etc. 4 year old E-niros are still at 65% of the original price. Of course the secondhand market in GB is more competitive.

Time will tell, of course, but I can’t see a 5 year old MG being worth 19k euros…
No point comparing now with 5 years time, the market will have a lot more choice of EVs then.
More competition means lower prices and used prices will have to fall in line.

 

[SiW80]

Time will tell, of course, but I can’t see a 5 year old MG being worth 19k euros…
No point comparing now with 5 years time, the market will have a lot more choice of EVs then.
More competition means lower prices and used prices will have to fall in line.

2yrs time 19k is possible based on current balloon payments but 5yrs maybe 15-12k?

 

[fshuk1]

Ok, DAN C, not reading 5 pages of comment so if this is already covered , sorry.

All cars depreciate 50%ish after three years. MG4 is meant to be better than that say 45%ish but let's just stick to 50% for now. This 50% drop in price is not linear. It is probably 25% drop in year one, 15% in year two and 10% in year 3. Most cars are like this. You buy new because of many reasons but you will be hit like this. The other 50% is distributed over the rest of the life of the car. This is why a 10 year old car is still not free but probably has lost 80%.

If there are any special reasons then the depreciation might be less. One reason may be is it is Effing expensive to start with. So a £250k rolls might drop by only 40% in 3 years but it means it has lost £100k !!!!

Anyway. If you are worried about the depreciation DO NOT BUY a new car. You can shop around for a 1 year or 2 year old car which has done the big part of depreciation already (But then you don't know how it has been treated).

My own feeling is that in 4 to 5 years time people will realise that these cars can do 100-200k miles easily and so the depreciation will be minimal after the first 50%.

As far as our MG4s go I expect an SE SR at £26k should be worth 21k (19% drop from new, DFN) after first year. Then 18k (30% DFN) after the second year and 16k (38%DFN ) after year three.

I Hope this helps your anxiety

 

[Rolfe]

Depends on how durable the bodywork and so on are. If it breaks out in rust, if the seats wear to tatters, if the panels spring out, well, that won't be so good, will it? We just don't know. We take a risk.

 

[bowfer]

Ok, DAN C, not reading 5 pages of comment so if this is already covered , sorry.

All cars depreciate 50%ish after three years. MG4 is meant to be better than that say 45%ish but let's just stick to 50% for now. This 50% drop in price is not linear. It is probably 25% drop in year one, 15% in year two and 10% in year 3. Most cars are like this. You buy new because of many reasons but you will be hit like this. The other 50% is distributed over the rest of the life of the car. This is why a 10 year old car is still not free but probably has lost 80%.

If there are any special reasons then the depreciation might be less. One reason may be is it is Effing expensive to start with. So a £250k rolls might drop by only 40% in 3 years but it means it has lost £100k !!!!

Anyway. If you are worried about the depreciation DO NOT BUY a new car. You can shop around for a 1 year or 2 year old car which has done the big part of depreciation already (But then you don't know how it has been treated).

My own feeling is that in 4 to 5 years time people will realise that these cars can do 100-200k miles easily and so the depreciation will be minimal after the first 50%.

As far as our MG4s go I expect an SE SR at £26k should be worth 21k (19% drop from new, DFN) after first year. Then 18k (30% DFN) after the second year and 16k (38%DFN ) after year three.

I Hope this helps your anxiety

Again, expecting someone to pay only £5k less than new for a year old 4 seems very optimistic….
Why has it been sold after only a year too, I’m instantly thinking rejected/lemon.

Also, there’s been a thread on Twitter about how cheaply 1st gen MG5s can be bought for.
Brand new, delivery miles, £17k is possible.
Dealers have a lot lying around it seems.
I expect to see the same with 1st gen MG4 soon, prices slashed as stock exceeds demand for ‘new old stock’

 

[Dan C]

Ok, DAN C, not reading 5 pages of comment so if this is already covered , sorry.

All cars depreciate 50%ish after three years. MG4 is meant to be better than that say 45%ish but let's just stick to 50% for now. This 50% drop in price is not linear. It is probably 25% drop in year one, 15% in year two and 10% in year 3. Most cars are like this. You buy new because of many reasons but you will be hit like this. The other 50% is distributed over the rest of the life of the car. This is why a 10 year old car is still not free but probably has lost 80%.

If there are any special reasons then the depreciation might be less. One reason may be is it is Effing expensive to start with. So a £250k rolls might drop by only 40% in 3 years but it means it has lost £100k !!!!

Anyway. If you are worried about the depreciation DO NOT BUY a new car. You can shop around for a 1 year or 2 year old car which has done the big part of depreciation already (But then you don't know how it has been treated).

My own feeling is that in 4 to 5 years time people will realise that these cars can do 100-200k miles easily and so the depreciation will be minimal after the first 50%.

As far as our MG4s go I expect an SE SR at £26k should be worth 21k (19% drop from new, DFN) after first year. Then 18k (30% DFN) after the second year and 16k (38%DFN ) after year three.

I Hope this helps your anxiety

Appreciate the comment, back when i bought the MG4 the used EV market was a mess and the car was a fair price for a brand new EV.

I took a realistic guess ( based on MG’s own GFV and normal market conditions ) that the car would be worth £16k at 3 years old which I was okay with ( and this might still happen ) and bought the car with a cheap bank loan.

I still don’t know what to do atm, I like the car but feel I should jump ship ( but into what, a Mii electric is probably the cheapest newest EV to get into )

 

[MG Fred]

Yes, it is all relative. If you buy your next car second hand you won't lose out. It is only those who always buy new in cash who will suffer significantly.

That’s a mythe unless you are buying a car over 20 years old. A 3 year old car will still depreciate to about 50% it’s purchase price after 3 years. It is just less as an absolute about of cash.

 

[fshuk1]

Appreciate the comment, back when i bought the MG4 the used EV market was a mess and the car was a fair price for a brand new EV.

I took a realistic guess ( based on MG’s own GFV and normal market conditions ) that the car would be worth £16k at 3 years old which I was okay with ( and this might still happen ) and bought the car with a cheap bank loan.

I still don’t know what to do atm, I like the car but feel I should jump ship ( but into what, a Mii electric is probably the cheapest newest EV to get into )

This is my main argument (which feel free to disagree with). You either buy a cheap Chinese EV or you buy a Tesla. No other car manufacturer to me makes sense. Unless you want a particular badge, an MG4 does everything that other cars up to £38k do. Anything over £40k and you better stretch and buy a Tesla.

This is why I think you have got the best car. Relax and enjoy the ride.

 

[Deleted member 10041]

This is my main argument (which feel free to disagree with). You either buy a cheap Chinese EV or you buy a Tesla. No other car manufacturer to me makes sense. Unless you want a particular badge, an MG4 does everything that other cars up to £38k do. Anything over £40k and you better stretch and buy a Tesla.

This is why I think you have got the best car. Relax and enjoy the ride.

This debate has been had, the MG is a good deal but it really doesn't do everything just as well that cars up to £38k do.
This is quite clearly evidenced on this forum by the consistently posted comments regarding things like AC, under trays and especially the constant bugs and niggles with the software systems (despite how many different versions in the first year?)

I would tend to agree with your comment if these things were now rectified but a year in and they are not. People are doing workarounds and putting up with niggles/foibles which they really shouldn't have to with a car that has now been on the road for nearly a year.

 

[tsedge]

That’s a mythe unless you are buying a car over 20 years old. A 3 year old car will still depreciate to about 50% it’s purchase price after 3 years. It is just less as an absolute about of cash.

Yes, that's what I meant: you lose more money that way (in pounds), it may be a similar percentage but it is still more money.

 

[Tangoed Man]

Well, the most I can get for my 6-month old Trophy with 3,800 miles is £22,000 with one of the online purchasing supermarkets, or about £20,500 trade in at MG. That's a third of its price in just half a year. Doesn't really matter to me as my wife loves driving it and will now only ever drive an EV. Hard to say at the 7 to 8 year point as the battery warranties start to expire and only time will tell the condition of the batteries and, more importantly, the sentiment of the marketplace for older EV's against whatever are the newer offerings at the time. We just enjoy the car now and do not regret the purchase for a single minute.

 

[Rolfe]

My sentiments exactly. The MG4 was the only candidate out there when I needed a new car. It was the right choice at the time. I won't regret it however it pans out.