Nobody will buy MG4 for €15,000 after only 10,000 miles

[disappointedbuyer]

Title says it all. This purchase was an insanely bad decision. We need to sell as we are leaving Europe and even the dealer won’t buy the car back from us. Great condition and only 16,000 km on the odometer. I’m wondering if anyone else has struggled this much to sell their MG4?

I’ve also had a number of issues with the car, including a leaking window by the windshield and horrible MG pilot (we call it auto-death instead of auto-steering). The dealer refused to update the software when I took it in a little while ago for some reason. Any chance for the EU 2 year refund for a lemon?

 

[Anon70]

I suppose if you have a record of a fault you reported with the car from new that the dealer was unable to fix you might have a case for rejection. Only thing is if you have been using the car since reporting the issue it didn't prevent you getting any value from the car.

 

[fshuk1]

Sorry to hear this. I have had two different MG dealers bid on my car for a buy back. So I assume your dealers are poor.

 

[disappointedbuyer]

Sorry to hear this. I have had two different MG dealers bid on my car for a buy back. So I assume your dealers are poor.

What did you sell it for? We now got a bid for 15500 euro which seems very very low given that the car was 30000 17000 km ago...

 

[ReintjeWA]

What did you sell it for? We now got a bid for 15500 euro which seems very very low given that the car was 30000 17000 km ago...

New cars always depreciate heavily as soon as you drive it off the lot. Forget what you paid for it, nobody will pay anything close to that (because then they would just buy new). I don’t know what comparable MG4s (mileage, age, state of the car etc.) are selling for in your area, but that would be the best indication of what it’s worth.

 

[Bricktop X PWR]

What did you sell it for? We now got a bid for 15500 euro which seems very very low given that the car was 30000 17000 km ago...

Remember with that bid they are building in a profit margin on resale.

Your only option to achieve the very best price is a private sale and all the ball ache that comes along with it.

You clean and prepare it.
You market it.
You organise test drives for interested parties.
You negotiate a sell or not as the case may be.
And still probably for less than you want.

See all the hassle involved?

That's why your bids are lower than you want.
The bids are low because the dealer has to do all the above and still make a profit.

Try here.
Highly recommended in the UK and they operate in Germany.

Carwow.de

 

[Vaasref]

I paid 13k€ new my MG4, selling it for 15k€ after 10k miles would be a crazy good deal for me.

 

[decrep]

timing is very bad I'm afraid, new car prices have dropped tremendously, so you won't get much for a 2nd hand one.

 

[hojnikb]

Guess it's really a buyers market right now. Although unfortunate for the OP, buying used right now is a pretty good idea. And also a good indication on how much you can haggle down prices, give how even at 15k€ they don't sell..

I paid 13k€ new my MG4, selling it for 15k€ after 10k miles would be a crazy good deal for me.

are incetives that good in france? The lowest price over here is 20k€ for the base model

 

[Vaasref]

are incetives that good in france? The lowest price over here is 20k€ for the base model

The incentives have changed now, and the MG4 is not eligible anymore.

But at the time I got 5+2k€(for low income) because it was an electric car, then if you had an old enough petrol or diesel car to scrap you could get 2.5+3.5k€(low income) both from the state, then the region I reside in added an other 4k€ but with the need to ask for it after buying it.
The SR trim with tow hitch and light gray metallic paint (white wasn't available and I want my car as reflective of the sun as possible) reached a total of 30k€.

 

[Corindikev]

I don't know about Europe but in Australia you lose a minimum of $10,000.00 as soon as you drive the car off the showroom floor. After that so long as you have maintained it to the specified regime and keep it in good condition any car will generally halve its value every 3 years.

That also has to be modified if the new price drops and with EVs this is happening all the time as batteries get cheaper as well as the cars themselves. All new technologies are expensive and once they become mainstream sales volumes increase and prices drop. Think of the price of early plasma and LCD TVs

I bought my MG4 when they were first released in Australia. At the time there was a waiting list and no discounts. The price with all on road costs added was $50,399.99 for an Essence 64 (Trophy long range in UK) model. So I drive out the door & it's worth 40k. It is just over a year old & there has been a price war with EVs & the price had already dropped 3k & then there was a factory bonus price drop of 8k, I think to clear stock before the facelift model is released next year.

If I wanted to sell it now with 18,000km on the clock I'd get somewhere in the low $20,000s. I usually keep a car for 10 years and have no intention to sell plus the only fault I have had is the undertray bulge which was fixed in January this year under warranty. I still have 6 years of warranty to go. New purchasers now get 10 years of warranty.

 

[hojnikb]

I don't know about Europe but in Australia you lose a minimum of $10,000.00 as soon as you drive the car off the showroom floor. After that so long as you have maintained it to the specified regime and keep it in good condition any car will generally halve its value every 3 years.

That also has to be modified if the new price drops and with EVs this is happening all the time as batteries get cheaper as well as the cars themselves. All new technologies are expensive and once they become mainstream sales volumes increase and prices drop. Think of the price of early plasma and LCD TVs

I bought my MG4 when they were first released in Australia. At the time there was a waiting list and no discounts. The price with all on road costs added was $50,399.99 for an Essence 64 (Trophy long range in UK) model. So I drive out the door & it's worth 40k. It is just over a year old & there has been a price war with EVs & the price had already dropped 3k & then there was a factory bonus price drop of 8k, I think to clear stock before the facelift model is released next year.

If I wanted to sell it now with 18,000km on the clock I'd get somewhere in the low $20,000s. I usually keep a car for 10 years and have no intention to sell plus the only fault I have had is the undertray bulge which was fixed in January this year under warranty. I still have 6 years of warranty to go. New purchasers now get 10 years of warranty.

10 year warranty is amazing. I wonder if EU will get that too.

 

[MelanieMoxon]

Used prices are similar in the UK. Last time I checked the guaranteed future value on a new car the same spec as mine MG4 Trophy LR in orange was £13500 after four years. The GFV is £16250 on mine from two years ago. The 4 also doesn't have the best reputation for being fault free, whether like me you document practically every pop up and disappear failure that shows up or only care about the big stuff, FWIW the MG4 will be my first and only SIAC MG and I will be VT'ing the finance as soon as I have decided what I am going to get in its place.

 

[ReintjeWA]

10 year warranty is amazing. I wonder if EU will get that too.

On top of that it’s services only every 40.000kms or 2 years