Estimated value after 3y

[neilp7865]

Crystal ball time. Fair to assume a 3y old ZSEV LR SE (acryonym-tastic) would be worth c £18k?
Assuming that by 2025 supply (and therefore depreciation) has normalised?

A 3y lease works out about £12k over 3y
PCP c£15k with a GFV of £14k. Assuming £18k value = £4k equity which exceeds the £3k additional spend over the first 3y

Or is that a bit over optimistic?

 

[Miles Roberts CG]

At least with a PCP, you've got options. You can upgrade early, you can refinance and keep it, etc. Whereas with a lease it's a locked contract where you have to make all payments to get out of it. But in terms of predicted equity etc, it's very much a crystal ball thing.

 

[SiW80]

How does paying off the PCP early work? Just agree the outstanding finance amount and pay it off?

Same for the upgrade route I guess but would need to be with a MG dealer?

It’s the PCP APR of 4.4% which make the ZS ‘more expensive’ than the lease.

I’m having the same dilemma

 

[Miles Roberts CG]

How does paying off the PCP early work? Just agree the outstanding finance amount and pay it off?

Same for the upgrade route I guess but would need to be with a MG dealer?

It’s the PCP APR of 4.4% which make the ZS ‘more expensive’ than the lease.

I’m having the same dilemma

You would get a settlement figure from the finance company. If paying off/upgrading early, then you would get a rebate for the interest saved.
You don't have to part-exchange at an MG dealership - any car dealer can give you a value for your car and settle the finance off when they take it into stock.

Eg 1. You decide to change cars after 2 years of a 4 year PCP. Your settlement figure is £20,000, and the dealership values your car at £21,000. They would settle the finance directly with the finance company, and give you the £1,000 either as cashback, or use it as a deposit towards the next car you want to buy from them.

Eg 2. You decide to change your car 1 year into a 4 year PCP. Your settlement figure is £24,000 but the current value of your car is £23,000. You pay the £1,000 shortfall to the dealership, and they settle the finance for you.

 

[JCFlippen]

PCP seems to be a good way to go as there is a £1500 MG contribution that is not applicable with a cash purchase. It pays some of the interest charged even if you pay off the PCP early.

 

[Pict]

PCP seems to be a good way to go as there is a £1500 MG contribution that is not applicable with a cash purchase. It pays some of the interest charged even if you pay off the PCP early.

Couldn't see anything on MG Motors UK website about this contribution. Is this the plug in grant or an additional contribution from MG making it £3000 off.
Thanks

 

[Miles Roberts CG]

Couldn't see anything on MG Motors UK website about this contribution. Is this the plug in grant or an additional contribution from MG making it £3000 off.
Thanks

There is a £1500 deposit contribution on the ZS EV LR Trophy and Trophy Connect (which don't qualify for the PICG).

 

[Kithmo]

PCP seems to be a good way to go as there is a £1500 MG contribution that is not applicable with a cash purchase. It pays some of the interest charged even if you pay off the PCP early.

Paid mine off after 10 days, it cost me £21 total interest (charged daily) and I got a £1500 MG deposit contribution, so I was £1479 in pocket.

 

[Pict]

There is a £1500 deposit contribution on the ZS EV LR Trophy and Trophy Connect (which don't qualify for the PICG).

Thanks for that. Mrs P has a 2020 ZS EV and our daughter is looking to buy a Trophy very soon