Finance numbers revealed!

MG outlines ambitious plans for MG4 - aims to be the UK’s second-biggest electric car in 2023

Chinese brand confident it can meet demand for its value-packed MG4 hatch as it ramps up production ahead of busy 2023

www.electrifying.com

• SE SR - £300 per month
• SE LR - £350 per month
• Trophy - £410 per month

All £4000 deposit & 3 years at 10k miles per year

 

[NickHeynes]

I think the most interesting thing in the above other then the outrageously competitive pricing is the phrase "ramps up production"

 

[MundaneMatt]

Which website is your screenshot from? Is it MG's own website?

 

[NickHeynes]

That looks like a dealer powerpoint to me .
The link is to "Electrifying"

 

[NickHeynes]

Hopefully lease figures will be out soon

 

[WonkoTheSaneUK]

Which website is your screenshot from? Is it MG's own website?

I think Electrifying are at the launch event, and the faded corner suggests they snapped that from MG's presentation slides with a phone camera.

 

[benfello]

Do we think they would accept a term longer than 36 months?

 

[duncerduncs]

MG allow PCP deals up to 42 months on the ZS and 5, there has been nothing else to suggest otherwise from the dealer I've been speaking too.

 

[Deleted member 8269]

Interesting.... These figures suggest the same APR as on the ZS (5.9%). 4 years PCP needs to be an option with no minimum deposit amounts.

 

[duncerduncs]

The MG4 has been added to the available models, you can now work out your monthly payments!

Finance calculator | Finance & Offers

Finance makes owning a brand new hybrid or electric vehicle simple and manageable. See our great range offers here.

www.mg.co.uk

 

[Harry 17]

Do we think they would accept a term longer than 36 months?

Yes, my PCP deal for the trophy is 49 months

£3500 down - £402 per month

I went for Orange with an extra £700 on the normal Base Trophy price

 

[D1no]

Yes, my PCP deal for the trophy is 49 months

£3500 down - £402 per month

I went for Orange with an extra £700 on the normal Base Trophy price

Does it show you what the final payment would be? Only tried it on mobile and that bit seems to be missing.

 

[Harry 17]

Does it show you what the final payment would be? Only tried it on mobile and that bit seems to be missing.

£15, 570.00

Sorry, I should have included that, as I know it will be of interest

EDIT: Should also mention, this is on 10K miles PA

 

[duncerduncs]

Does it show you what the final payment would be? Only tried it on mobile and that bit seems to be missing.

Yes, you have to scroll down the page a bit to see the full details ?

 

[JimB]

So £38,768 in total if you keep it.

I think I I'll tell my wife to start taking cabs ?

 

[Harry 17]

So £38,768 in total if you keep it.

I think I I'll tell my wife to start taking cabs ?

Yeah, if I go full term. Doubtful though as I intend to play it off after 24 months, I am told there is no early termination fee. Mmmh….. we‘ll see about that one

 

[Harry 17]

So £38,768 in total if you keep it.

I think I I'll tell my wife to start taking cabs ?

Been thinking about your indifference to the total cost.

The way I look at it…as already posted, intend to settle after 24 months, but even if I do not.

there is a strong argument that the car will be worth at least £18K in four years time.

Minus the the £38k I will have paid over 49 months (incl Balloon payment) , leaves me with actually leaving me having an asset fully paid for and with a small profit. Should I decide to sell, I would get around £20K back to the good. So I guess paying for a brand new EV for four years, I end up either with a car, or £20K in my pocket.

As we all know, no such thing as a free lunch (will still have lost £18K) but I think this deal suits me very well.

 

[wandle MG4 trophy]

Forgive my ignorance but I am utterly confused by car finance, yet a lot of posters are getting very excited about the terms on offer.
i have ordered a Trophy, will probably pay cash and keep the car for 6 or 7 years. If I buy on an MG PCP plan the interest charges are £5157. I’m not excited about paying 5 Grand extra. Am I missing something? Thanks.

 

[BugEyed]

It depends on whether you can earn more with your money in the meantime.

 

[JimB]

Been thinking about your indifference to the total cost.

The way I look at it…as already posted, intend to settle after 24 months, but even if I do not.

there is a strong argument that the car will be worth at least £18K in four years time.

Minus the the £38k I will have paid over 49 months (incl Balloon payment) , leaves me with actually leaving me having an asset fully paid for and with a small profit. Should I decide to sell, I would get around £20K back to the good. So I guess paying for a brand new EV for four years, I end up either with a car, or £20K in my pocket.

As we all know, no such thing as a free lunch (will still have lost £18K) but I think this deal suits me very well.

I'm certainly not indifferent to the total cost, quite the reverse.

I'll have to re-visit your explanation tomorrow as I'm now befuddled after trying the Queens gin and Dubonnet, and some others?

I hope I can convince myself of the strength of your logic as it will certainly avoid substantial up front cost.

Thanks, in the meantime, for taking the trouble to detail the arithmetic.