July MGS5 deals

[edd10]

What is MG’s rationale for these massive discounts on the MGS5? £24,000 for the Trophy LR is bonkers. It’s receiving mostly positive reviews, but it really damages the model’s used values.

 

[PATELDJP]

I picked up our Trophy in White for £23,995 with 6 miles on the clock pre-registered. Some great deals out there!

 

[Bam Bam]

What is MG’s rationale for these massive discounts on the S5? £24,000 for the Trophy LR is bonkers. It’s receiving mostly positive reviews, but it really damages the model’s used values.

They are all made up numbers.

The sticker price is one thing.

Probably no one (even at SAIC) knows how much they really cost to make because of all the complexities of the Chinese government-subsidised economy.

What it does mean is that there are great deals out there for those who can pay in cash, as PatelDJP says.

 

[salty]

What is MG’s rationale for these massive discounts on the S5? £24,000 for the Trophy LR is bonkers. It’s receiving mostly positive reviews, but it really damages the model’s used values.

It's only damaging used values.
For those, unfortunate enough to have paid. Anymore than £24,000 or whatever the deal is at the time.
Unfortunately happens all the time, not just MG. You buys your motor. Couple of months later, it's thousands cheaper.
Same thing happened with the X Power, now look, what you can get them for.

 

[tsedge]

Yep, great deals out there. Autotrader shows a bunch of £7,000 off new deals for brand new cars.

 

[5teep]

They are all made up numbers.

The sticker price is one thing.

Probably no one (even at SAIC) knows how much they really cost to make because of all the complexities of the Chinese government-subsidised economy.

What it does mean is that there are great deals out there for those who can pay in cash, as PatelDJP says.

I am more than happy for the Chinese government to subsidise my car purchase. I've been subsidising them for decades buying chicken fried rice at midnight on a Saturday

 

[Joningy]

I picked up our Trophy in White for £23,995 with 6 miles on the clock pre-registered. Some great deals out there!

I just bought a S5 Trophy in silver for £24125 cash, all in and on the road. Brand new, not pre registered yet, pick up 16th September, but has to be registered by end of August, so will have 25 plate, but I dont mind that.
Wow I'm impressed, just feel for those who pay the full price and/or take up finance.

It's only damaging used values.
For those, unfortunate enough to have paid. Anymore than £24,000 or whatever the deal is at the time.
Unfortunately happens all the time, not just MG. You buys your motor. Couple of months later, it's thousands cheaper.
Same thing happened with the X Power, now look, what you can get them for.

Yep, defo for those who bought at or near full retail, @ £24125 in silver, I should be reasonably well protected from depreciation and others who did similar.
I really wanted the new IM5, but saw this S5 deal and went for it, IM5 will have wait until the gremlins are fully sorted!

They are all made up numbers.

The sticker price is one thing.

Probably no one (even at SAIC) knows how much they really cost to make because of all the complexities of the Chinese government-subsidised economy.

What it does mean is that there are great deals out there for those who can pay in cash, as PatelDJP says.

I think that SAIC know exactly what it costs to produce cars, perhaps its the greedy European manufacturers who are out of touch, one thing is sure, manufacturers closer to home will be calling special meetings to try and underastand the situation, sales will be slow until our prices fall nearer in line with Chinese car manufacturers .

 

[sammoj]

As one of those who paid £29,495 for a Trophy in Artic White this should really annoy me, but the way I look at this is its all about if your happy with the terms you got.

I traded in my 4 year old Kona which We Buy Any Car said was worth £9,500 but I got £10,995 trade in so that effectively gave me £1,495 extra.

I got 4 years interest free credit on an £18,000 loan. A bank loan would have cost me £2,153 in interest but also meant I was paying back £419 a month instead of £120. I saved £2,153 in interest and have an affordable £122 a month fee to pay of 1/3 of that loan instead of 100% of it over the 4 years.

As I am lucky enough to have the cash in savings I have not had to pay this money out so should earn compound interest on that £18,000 over 4 years at 4% per year which I would not have earned if I had paid in cash in full. Interest earned circa £3,057.

So my man maths was £1,495+£2,153+£3,057 =£6,705.00 so the real cost of my car was £29,495-£6705 =£22,790.00 assuming I pay balloon payment of £12,175 at the end of the contract. Or £29,495 - £1,495 - £2153 =£25,847.00 if you ignore the interest earned on savings.

I guess its all down to available money, flexibility to just hand back at the end of 4 years if the GFV falls heavily or keep the car and £122 a month is affordable for me at the moment to have a brand new car with 7 year warranty. At the end of the day the list price at £33,495 was close to an EV3 or Elroq entry level car so even at list it was a good value car but I was happy to get £4,250 off list price and 0% finance. The pre-reg deals will though increase depreciation on those who paid full or near list price but then we all knew we would be looking in the region of £11k-£12k trade in for an average mileage good condition vehicle after 4 years. Thats the price we pay for having a new car and an EV at the moment.

Lots of ways to juggle the numbers and as my ex-boss, a finance director, said when I asked him how we would handle a large IT purchase depreciation "What number would you like it to be?". lol


J

 

[tsedge]

Yep, I paid full list price of £31k for my MG4 Trophy, which is currently worth £13k after 2.5 years and available new for around £22k. The only saving grace is my MGFV after 4 years is £16.5k, so I won't suffer all that depreciation myself.

We knew when buying that prices would very likely come down a lot, it was the price of getting in early. I don't regret it.

 

[Bam Bam]

I think that SAIC know exactly what it costs to produce cars,

They will know how much it costs them.

However, those costs are going to be altered by all sorts of cross subsidies and supports from the government. The government won't know about all the costs within SAIC, SAIC won't know about all the costs from the government/social perspective. It isn't a transparent economy or society.

Us consumers are benefitting as a result of the cheaper stuff, but Western companies are going to struggle to compete. Protecting them won't be the answer - they need to up their game.

There are signs that Renault that they are doing that (as well as the Korean companies). Others might be too big, unwieldy, slow and stuck in the past (VW, Stellantis, GM), but we will have to see and I wish them the best. Ford understand the issue but haven't really released anything yet.

 

[5teep]

It would be worth looking again just now, might be some end of month deals out there.

 

[Joningy]

It would be worth looking again just now, might be some end of month deals out there.

There are definitely some brilliant deals, I just paid (cash) £24125 for a new, but will be preregistered by the end of August, but no miles on the clock (other than PDI & moving it around the courtyard) in Silver.
Auto Trader among others have several pre reg models, varying in price.
My MG4 is going back to the finance company (interest free PCP) as it's worth considerably less than the balloon payment required to purchase it and keep.

 

[Joningy]

They will know how much it costs them.

However, those costs are going to be altered by all sorts of cross subsidies and supports from the government. The government won't know about all the costs within SAIC, SAIC won't know about all the costs from the government/social perspective. It isn't a transparent economy or society.

Us consumers are benefitting as a result of the cheaper stuff, but Western companies are going to struggle to compete. Protecting them won't be the answer - they need to up their game.

There are signs that Renault that they are doing that (as well as the Korean companies). Others might be too big, unwieldy, slow and stuck in the past (VW, Stellantis, GM), but we will have to see and I wish them the best. Ford understand the issue but haven't really released anything yet.

There will be all kinds of reasons why pricing may alter, but the previous member refered to SAIC possibly not knowing build costs, like you, I'm sure it does!

I agree European car companies need to get their prices in line with the cheaper Far Eastern importers, it's OK for the fllthy rich,they can spend recklesley, but people buying MG's are either more savvy or careful, but not filthy rich.
I like the IM5, but I'm also cautious about ordering a car off the drawing board, so that can wait a while.

 

[Knuttt]

I’m in two minds, currently have an offer of 0% pcp but full price car.
I can’t afford to pay cash and bank loans are still too much interest.
Not sure what to do.

Andy

 

[sammoj]

I’m in two minds, currently have an offer of 0% pcp but full price car.
I can’t afford to pay cash and bank loans are still too much interest.
Not sure what to do.

Andy

You should be able to get about 4k off list price even with 0% unless that deal was only for July. That’s what i got at beginning of month.

 

[Bam Bam]

I’m in two minds, currently have an offer of 0% pcp but full price car.
I can’t afford to pay cash and bank loans are still too much interest.
Not sure what to do.

Can you stick with your MG5 for a while?

0% interest presumably makes a big difference over time, and lower price is obviously a good thing.

Pre-reg S5's on Autotrader for under £21k or £23k (bigger battery).

Would any other manufacturers or dealers offer both?

 

[5teep]

I’m in two minds, currently have an offer of 0% pcp but full price car.
I can’t afford to pay cash and bank loans are still too much interest.
Not sure what to do.

Andy

I'd been saving for quite a while intending to buy when I retire next year, I was lucky that the car pot was big enough to buy at the deal price so I'm twice happy

 

[Knuttt]

Can you stick with your MG5 for a while?

0% interest presumably makes a big difference over time, and lower price is obviously a good thing.

Pre-reg S5's on Autotrader for under £21k or £23k (bigger battery).

Would any other manufacturers or dealers offer both?

My MG5 is going back today, the PCP finished and they’re taking the car back with nothing for me to pay. The balance was £12,000 but trade value was only £8500 so I’d loose out keeping it or using it as a trade in.
I’d been looking at a Leapmotor C10 until I found out the already released 2026 version is a massive upgrade but not available here yet.

 

[Joningy]

Can you stick with your MG5 for a while?

0% interest presumably makes a big difference over time, and lower price is obviously a good thing.

Pre-reg S5's on Autotrader for under £21k or £23k (bigger battery).

Would any other manufacturers or dealers offer both?

My MG5 is going back today, the PCP finished and they’re taking the car back with nothing for me to pay. The balance was £12,000 but trade value was only £8500 so I’d loose out keeping it or using it as a trade in.
I’d been looking at a Leapmotor C10 until I found out the already released 2026 version is a massive upgrade but not available here yet.

I'm in exactly the same position with my MG4, not a good idea to pay more than the car's value.

But, if you could get a really good deal on a pre registered S5 as I did, £24125 in silver, but I had to pay cash.
If YOU could get one of these deals, using a bank loan may be a cheaper option than full price with zero % PCP.

 

[sammoj]

My MG5 is going back today, the PCP finished and they’re taking the car back with nothing for me to pay. The balance was £12,000 but trade value was only £8500 so I’d loose out keeping it or using it as a trade in.
I’d been looking at a Leapmotor C10 until I found out the already released 2026 version is a massive upgrade but not available here yet.

I think this is the problem with PCP. The dealer I sold my Kona to made £3k gross mark up after my trade in so add 3k to the trade value and your at £11,500 giving a retail not far off your balance. I guess it depends if you want to keep the car or not as it has a known history with you from new. I think in 3- 4 years it will be interesting to see what EV residuals are, in theory by 2029 there will be more demand for second hand EVs which may help residuals.