MG4 Depreciation

[pjmmk]

You also have the advantage of not getting your hands covered in fuel when you handle the plug like you do with a nozzle at a fuel pump because some <unmentionable> gave the trigger a squeeze before holstering it. Mind you, getting your hands covered in electricity instead can ruin your day...

 

[DrPlokta]

I just paid £23,750 for a 73 plate Trophy with 2,000 miles on it, so it doesn’t seem that unreasonable.

 

[Rolfe]

Sounds like a great bargain. Enjoy! And welcome to the forum by the way.

 

[M44LCY]

Does anyone actually pay the sticker price for a new car? A quick look on Autotrader shows quite a few ads for a "brand new" (not pre-registered) MG5 Trophy at £24k - £25k. MG4 Trophy can be had for £25k - £26k.

Even at those prices, I doubt that dealers are selling them at a loss. You have to consider the trade-in price in this context.

 

[tsedge]

Does anyone actually pay the sticker price for a new car? A quick look on Autotrader shows quite a few ads for a "brand new" (not pre-registered) MG5 Trophy at £24k - £25k. MG4 Trophy can be had for £25k - £26k.

Even at those prices, I doubt that dealers are selling them at a loss. You have to consider the trade-in price in this context.

I would hope not now... back in mid 2022 we paid the sticker price but that was a different era with shortages, unusually high new and used prices and the car had just been launched (and before the sticker prices increased, so it was still a good deal).

 

[M44LCY]

I would hope not now... back in mid 2022 we paid the sticker price but that was a different era with shortages, unusually high new and used prices and the car had just been launched (and before the sticker prices increased, so it was still a good deal).

Agreed - we’re comparing apples with pears. At that time, I had a 12 year old, but well loved and cared for, Fiesta which I expected to sell for £2000 or so. I actually got £4450. Today's climate is different - my local MG dealer is advertising a 2022 MG5 for £14,500.

 

[tsedge]

I notice the original poster has never returned to the conversation, so we don't know why they want to sell.

If they don't sell, there is no loss, it is just a thought experiment - it is only when the car is sold that any loss is realised.

We have had a few like this recently, so I do wonder if people are just wanting to stoke conversation?

 

[Rolfe]

I think they want to have a shock horror thread title continually showing up in the forum. Which we are facilitating, of course. I'm going to change the title to something a great deal less inflammatory and lock the thread, unless there is a general wish for it to remain open.

 

[stevemc]

I just got some figures for a new MG4 from a dealership. I am shocked at the low part exchange value for my current MG4, is everyone else seeing the same?

 

[Wadda]

There’s plenty of supply of new ones, used ev market is down, you are looking at trading in a car that’s a maximum of 2 years old. What did you expect?

 

[Jomarkh]

Check out Carwow

 

[pecker]

Honestly, the best thing to do is just keep they car for as long as possible, unless you HAVE to change it.

To run my car it costs less than £5 per week, I plan to keep it until it falls apart.

 

[Amun]

Buying a car new and trading it in a year or two later has usually been the expensive option, which is why many people buy cars 2-4 years old - the original buyer has already taken the hit.
The only reason that I bought new this time was the lack of used vehicles and the uncertainties about the new tech - mainly the battery.

 

[JonnyG]

Can a mod please merge all these depreciation threads together. I don't think we need a new one every week or so.

MG4 Depreciation

My ZS lost just under 50% of its value in 12 months from November 2022 to 2023. The only advice I would give would be not to buy new however as others have said our loss / my loss is now a gain for others as the same car new now is considerably cheaper. I’ve never leased a car myself but seeing...

www.mgevs.com

 

[andyvee]

I like that - its in showroom condition - no it isn't, its got 3500 miles on it, has 1 owner on the logbook and is a year old

 

[dawson2099]

Honestly, the best thing to do is just keep they car for as long as possible, unless you HAVE to change it.

To run my car it costs less than £5 per week, I plan to keep it until it falls apart.

Me too - now I am charging at the nightly cheap rate it's 2p/mile

 

[m4rmite]

It's happening in ice vehicles as well.
Example 1.
Guy at work bought a used bmw 320i 2019 plate 12 months ago.
He traded it in for another car and was offered 12k.
Example 2.
Another guy at work, both work in same depth as me, bought a Nissan juke brand new in 2020 just before covid, 27k.
Roll on 4 years and he was looking to buy a new car again, he was offered 15k.
This wounded him a little.

Example 3.
A friend bought a Peugeot 2008, 28k December 2021.
He got offered 15k as a trade in at the garage that sold it him.

But it's only evs that lose value

 

[Alb]

I've merged four separate threads on this subject under the title of the oldest so don't be surprised if some of the conversation looks a bit disjointed.

 

[jacksonpratt]

Just drove home a brand new 64kWh luxury (UK's trophy) for 17.5k eur.

That'll keep depreciation at bay for a while.

 

[OriginalBigAl]

Just drove home a brand new 64kwh luxury (UK's trophy) for 17.5k eur.

That'll keep depreciation at bay for a while.

Italy hey! I bet you made them an offer they couldn't refuse?