MG5 PCP Lease ending later this year

[dgs99]

I'm a few months away from either handing my car back or paying £10K to own it. The car has been faultless from new and has only cost me a replacemnet front window in repairs. I would be quite happy to buy it, as it has low mileage 16,000 but have been offered a 2024 Sep reg demonstration MG5 for £20K with 2K on the clock, which would you choose?

 

[bobs2293]

Save yourself 10k! For the sake of 14k miles it’s not worth that price. Stick with the car you know

 

[Caramaddy]

Buy your RELIABLE car for £10,000 less - a bargain!

 

[dgs99]

I'm mainly concerned about rust/corrosion in a 4yr old car. Its kept outside.
Body work is fine but unsure of what might be happening underneath?
I would also like the option of fitting a towbar which I cant do on the pre-facelift model.

 

[Dino]

I handed my 71 plate MG5 SR Excite back when I reached the 50% mark on PCP, I did this to pick up an MG5 SE while they still had them available with a hefty discount. I bought a pre registered MG5 LR SE (24 plate ex-demo with only 100 miles on the clock) for £19k. I think the upgrade is worth the money, and I also get roof bars which I missed on the Excite. The new warranty and no need to MOT for 3 years is a bonus too, especially since I do low mileage and get the low mileage service.
My Excite was valued at around £2k less than the balloon payment, even at under 13k miles, and almost £3k less than it went up on Autotrader for, so handing it back was a no brainier for me.

 

[bobs2293]

None of the reasons listed above are a reason to spend £10k. Rust and corrosion on a 4 year old car…..material technology has come a long way. My MG5 has 100K on the clock. 4 years old and zero corrosion. Always kept outside.

If you want to waist 10k to avoid MOTs and having a tow bar than carry on.

 

[Paulie68]

None of the reasons listed above are a reason to spend £10k. Rust and corrosion on a 4 year old car…..material technology has come a long way. My MG5 has 100K on the clock. 4 years old and zero corrosion. Always kept outside.

If you want to waist 10k to avoid MOTs and having a tow bar than carry on.

The tow bar can be a big thing, if you need a tow bar, the PFL isn't an option

 

[Dino]

The tow bar can be a big thing, if you need a tow bar, the PFL isn't an option

Exactly, or roof bars for me. I thought I could do without them when I bought the Excite and I was wrong, even though I only need them a couple of times a year.
It’s what you need and what you want/can justify in terms of price. I could have kept paying another 9 months PCP and then paid more than market value for the Excite that didn’t suit me long term, or I could jump ship and pay extra for something new and better for me

 

[Muffler]

Agreed. It's both subjective and relative - exchanging a 4 year old car for one that's 6 mths old, and being the FL updated model that has other percieved benefits, could well be seen as great value prospect for a £10k uplift, if it falls within margins of affordability. Whereas, under different circumstances, forking out an additional £10k for an upgrade may be completely unrealistic.

Both values don't seem unrealistic so just comes down to question of what you're prepared to commit to in terms of features/age/price. Both are extremely reliable. FL is a bit more modern....

However, if you do go with the FL one, make sure you try to tie the dealer down to latest updates incl Tesla charging at the absolute minimum.

 

[crispyjay]

Much as I love my FL5… it’s rapid DC charging speed (or rather the lack of it) will stop me getting another.

Whilst the FL5 is new and shiny, it is sadly quite outdated technology wise.

Most of my charging is AC, but when I’m out and about rapid charging and only get 50kW when cars next to me are getting nearly 3x that it’s quite annoying.

And yes, I know my MG cost sometimes 3x less than the fast charging car next to me.

 

[Everest]

£20K doesn't sound that good a deal as pre-reg 10 mile ones were selling for about £19 only a month ago. Sounds like there's some wriggle room in there to me.

Another option could be to find out how much the dealer will offer you in p/ex of your existing MG5.

If that's more than the £10K, then you could buy it off finance and use it as p/ex to reduce the difference.

 

[Paulie68]

Much as I love my FL5… it’s rapid DC charging speed (or rather the lack of it) will stop me getting another.

Whilst the FL5 is new and shiny, it is sadly quite outdated technology wise.

Most of my charging is AC, but when I’m out and about rapid charging and only get 50kW when cars next to me are getting nearly 3x that it’s quite annoying.

And yes, I know my MG cost sometimes 3x less than the fast charging car next to me.

It's interesting to see what matters to different owners. Personally, I really couldn't care less about charging above 50kW, as I've only needed to charge when away from home about a dozen times in all the years I've had EV's and most of those times, the car had finished before I we'd finished our break and got back to it.

 

[kevin ellard]

Much as I love my FL5… it’s rapid DC charging speed (or rather the lack of it) will stop me getting another.

Whilst the FL5 is new and shiny, it is sadly quite outdated technology wise.

Most of my charging is AC, but when I’m out and about rapid charging and only get 50kW when cars next to me are getting nearly 3x that it’s quite annoying.

And yes, I know my MG cost sometimes 3x less than the fast charging car next to me.

I've had mine charging at 79 point something but that's not very common. If I was younger and in more of a hurry then I'd agree with you and would want something that charges at 150kW or more.
As it is, on the rare occasions I am on a road trip, the car is charged before I've finished eating.