My MG ZS EV mk 1 2020 (70) plate has just achieved 7,985 miles this week and has been well looked after from day one.
The attached photo is how the drivers seat looks now, but I did report this fault over 18 months back to my service dealer Chorley Motors in Burnley, who said "it was just a crease in the leather", but when I didn't agree with that point, I was told it was not covered under warranty.
I am at a "decision time" now, as the car is coming to the end of the PCP (Personal Contract Purchase) contract and my options going forward are:
1. Keep the car by paying the £9,750 balloon payment
OR
2. Handing the car back to the finance company
OR
3. Trading it in for a newer model, using the equity left in the vehicle as part deposit.
I today valued my car on We buy any car, Motorway and CarWow and it is valued around £11,242.
The price has been dropping in value by around £250.00 per month over the past few months despite only having a very low mileage - 7,985 on the clock.
So come November when the PCP contract finishes, there will be no equity left to use in the car as a Trade In.
I have decided therefore to simply hand the car back to the finance company, even though I have loved this vehicle since day one and still do, but technology has moved on big time since the Mk 1 came out and a much better range on newer models is now available.
I am looking for a slightly larger SUV now and was hoping the new revamped MG HS was going to have an ALL ELECTRIC model in the range, but sadly that didn't happen.
So my next move I feel after looking at all the options and cars I like, I will hopefully be moving over to a new all electric Ford Explorer Premiere, but for me, buying another electric car and losing so much equity (which I didn't expect), means I will move to leasing my next vehicle instead, which makes it cheaper on the monthly payments and without the worry of a PCP balloon payment at at the end of the contract either.
We still have a second car which is an MG4 X Power that we also love, but for my car, come November, I will sadly be moving away from the MG brand.
Andy (Blackpool)