MG ZS EV Trophy Connect Long Range Depreciation Values

[JimW]

Hello Everybody,

I bought in March this year an MG ZS EV Trophy Connect Long Range SUV. In 6 months we have done around 4K miles and the car is doing on average around 4.3 miles per Kw here in Cornwall. I was wondering if anybody had a view on the 1 year and 3 year depreciation values. I have heard of some horror stories regarding electric car depreciation and was wondering what your thoughts were.

Thanks in advance,

Jim W

 

[Ruislip Resident]

My year old one (sept 22 silver long range trophy connect at 5k miles) on car sites like carwow was offering about 20k. I wasn't looking to sell. It was more if I needed anything for insurance purposes on renewal when searching. I did not need a value in the end.

 

[JimW]

Thank you for the info. That is quite a drop from the list in the space of a year!

 

[Bubs]

I bought at €36.5k July '22, same car here in Ireland now is €42.5.

I asked Tesla and one of the crowd the "buys any car". Both offered me €22.

Was in with MG and they offered €35. So €1500 down over the year.

The issue is they put up prices so instead of the expected 4000 I now have to pay 7500 to go up one year. And since we are likely on the cusp of a price decrease I wasn't willing to pay over 7k to move up.

 

[JimW]

Thanks again for the info. €1500 is not to bad droop but €7500 to replace is not good.

 

[Bodgerx]

Back to normal new car depreciation I guess...

 

[robbymax]

IN 2024 MG ARE RUMORED TO BRING OUT A NEW MODEL MG ZS EV Trophy Connect Long Range SUV.THAT COULD HAVE A DRASTIC EFFECT ON ALL CURRENT VEHICLES AND STOCK AND IT'S JUST STOPPED ME FROM BUYING ONE WHO THE HELL WANTS LAST YEAR'S MODEL

 

[Harry 17]

IN 2024 MG ARE RUMORED TO BRING OUT A NEW MODEL MG ZS EV Trophy Connect Long Range SUV.THAT COULD HAVE A DRASTIC EFFECT ON ALL CURRENT VEHICLES AND STOCK AND IT'S JUST STOPPED ME FROM BUYING ONE WHO THE HELL WANTS LAST YEAR'S MODEL

Hang on whilst I put on my ear defenders on, in an attempt to drown out the shouting … ..

Well my MG4 has lost almost £10K in 11 months, so to save that, I would have last years model

 

[Gadget Geek]

It has always been the case that as you drive a new car off the lot, it suddenly drops in value.

 

[JimW]

Yes I guess your right. Time will tell.

Thanks everybody

 

[DJS]

IN 2024 MG ARE RUMORED TO BRING OUT A NEW MODEL MG ZS EV Trophy Connect Long Range SUV.THAT COULD HAVE A DRASTIC EFFECT ON ALL CURRENT VEHICLES AND STOCK AND IT'S JUST STOPPED ME FROM BUYING ONE WHO THE HELL WANTS LAST YEAR'S MODEL

On that theory it seems like you'll forever be waiting for next year's model.

 

[JimW]

Thanks to everybody for your comments.

 

[JoOLS]

IN 2024 MG ARE RUMORED TO BRING OUT A NEW MODEL MG ZS EV Trophy Connect Long Range SUV.THAT COULD HAVE A DRASTIC EFFECT ON ALL CURRENT VEHICLES AND STOCK AND IT'S JUST STOPPED ME FROM BUYING ONE WHO THE HELL WANTS LAST YEAR'S MODEL

I'd quite happily take an old model if I could save £10k. Once cost of living and the recession bites around Q1 in 2024, I'm hoping there'll be a raft of deals chucking out surplus stock.

It has always been the case that as you drive a new car off the lot, it suddenly drops in value.

Quite. The VAT element already chops 20% of plus any 'forecourt' value. Even with a chunky Affinity saving (£6k ish) 2 years ago, I'd be surprised if our MG5 is much near 50% of the book price.

 

[Gadget Geek]

On that theory it seems like you'll forever be waiting for next year's model.

It's called the Osbourne effect.

 

[robbymax]

Sorry about the shouting but this news seems to be hidden quite well I think the Ethical thing for mg to do is to inform everyone when it's decided a new model will be out and they can forget it I won't be buying the new model I'll be buying the new old model and it'll be a hell of a lot cheaper

 

[fatboyfat1981]

Sorry about the shouting but this news seems to be hidden quite well I think the Ethical thing for mg to do is to inform everyone when it's decided a new model will be out and they can forget it I won't be buying the new model I'll be buying the new old model and it'll be a hell of a lot cheaper

Ethics? This is a car company we’re talking about.

They will tell us when a new model is ready. When they decide to release it.

 

[Bubs]

New model is the end of 2024 though, so unless you are in the first batch more likely it will be summer 2025.

 

[Harry 17]

It's called the Osbourne effect.

Who knows mate, could be the Sunak effect, the Truss effect, the Tory `BS’; effect, the ‘Austerity effect’ …..will give the Tories there due, we needed to stop the spending , but for me, went way too far….but that is my stand point, more than happy to consider others, but guess the socialist in me, wants everyone to do well, spread the wealth (if any left), and I would wish to back up the underdog.

I know, that buying a new car will loose approximately 30% of the retail price, but wanted to get the new MG4 as soon as. That’s is my issue, and not complaining about that. .

I just only hope, the BMW i4 e40, loses much the same value, cause
if it does, In am IN!! Lol…sorry for shouting

Sorry about the shouting but this news seems to be hidden quite well I think the Ethical thing for mg to do is to inform everyone when it's decided a new model will be out and they can forget it I won't be buying the new model I'll be buying the new old model and it'll be a hell of a lot cheaper

Not a slant Robby, but I do not think you quite get capitalism. Also, I do not think anything is hidden when losing between 20-30% depreciation when you buy and drive a new car off the forecourt. It surely is a given??

As another poster has commented…..should you decide to always wait for a new version of a car, then you will never be in a position to buy a new car. good luck buying a new car 20% less than the current retail price .

Bought my brand new MG4 on launch (September 2022) was one of the first off the ferry here in the UK and the first one my dealership got in to the show room. Lost a shit load (10K trade in and 7K private sale) but knew that would happen. Fore warned is better than for warned .

Now that I have been truly grateful to MG for getting me into the world that is EV, I am now ready to spread my wings and hopefully enjoy the depreciation of the new current crop. Hell! Can you imagine if you bought a brand new Tesla just before the recent price drop! Guess that would make you suicidal!!

 

[Gadget Geek]

Who knows mate, could be the Sunak effect, the Truss effect, the Tory `BS’; effect, the ‘Austerity effect’ …..will give the Tories there due, we needed to stop the spending , but for me, went way too far….but that is my stand point, more than happy to consider others, but guess the socialist in me, wants everyone to do well, spread the wealth (if any left), and I would wish to back up the underdog.

I know, that buying a new car will loose approximately 30% of the retail price, but wanted to get the new MG4 as soon as. That’s is my issue, and not complaining about that. .

I just only hope, the BMW i4 e40, loses much the same value, cause
if it does, In am IN!! Lol…sorry for shouting

Er, I think you've got the wrong Osbourne. It's about an american computer company who announced a new model before they'd sold the original model. Needless to say they went bankrupt as people waited for the new model.

 

[robbymax]

i have given up on buying new i am going to buy one of the demonstration models thats just come on the market the dealers know there is a new model coming but they are still asking too much give it a little while and they will be at the right price