Price increase in January 2023

[Deleted member 9692]

But what age range did you start at when canvassing Grannies?

My methodology has to remain confidential for now but I will confess the sample group was smaller than I would like. I may start a dedicated thread on this important issue as I don’t want to stay off topic here

 

[Buster72]

Yes, well described.
A PCP is by far the most popular way of getting into a new (and some used) cars.
It is worth considering when concessions are available but for example the MG PCP with no concession and APR 7.9% suddenly becomes much less attractive!

As I have mentioned I have ordered an SE.
For me, the decision was between Lease and PCP.
The very best Lease I could get was just over £300/month for 4 years including 12 months up front £3700. Total cost over 4 years was well over £16,500. And then you give the car back. And delivery was estimated at 16+ weeks. Any price increase ment re quote.

I then had the issue of my current car. I had a valuation for now. But how much was I going to lose in depreciation over the next 16+ weeks.

So in the end, I went to a dealer and bought one on PCP.
Benefits:

• Bought at the current price, saving at least £1000.
• My car valued now as part of the purchase for 16 weeks time at more than I could get for it now.
• Monthly PCP over 4 years less than half the lease price.
• And after 4 years I will have at least £15k equity guaranteed if I choose to keep or sell the car.

So PCP may not be ideal. But it does have some advantages.

 

[Cocijo]

My methodology has to remain confidential for now but I will confess the sample group was smaller than I would like. I may start a dedicated thread on this important issue as I don’t want to stay off topic here

I wouldn’t bother about the dedicated thread - it‘s spreading throughout every thread.

 

[MoDolph]

I think the price rise will happen but then there will be discounts applied soon bringing the price down to lower than currently.

On the PCP issue, we always buy our cars cash and then keep them for 8-10 years. Buying on finance means you're a perpetual debt slave, no thanks. If I lose my job I have an asset to use or sell, if it was on finance it would be a liability.

 

[Cocijo]

Most people don’t keep their cars that long and also don’t have the cash to buy them outright.

A PCP lets you have a new car every 3 years or so if you want it, which a lot of people do. The car market moves quickly and some want the latest offerings.
A lot have gone for PCP and it has become the most popular way of financing a car.

If you have the cash to buy, it’s still not always the best way to get your car, but you have to weigh up all of the factors involved in making your decision, including the investment return on the invested cash. Debt is not necessarily a bad thing if informed and managed.

I personally only like PCP’s where the concessions are good and the APR really competitive.
Sometimes, you can get a good PCP concession and cancel one Month later and purchase cash if you want to.
But that’s my choice of course.

 

[Ayoull]

I've taken the MG4 on PCP as my employer is covering 75% of the monthly cost as part of the cash alternative car scheme.

I took this route as the cheapest EV on the company salary sacrifice scheme was £624.21/month for a corsa-e, of which I'd be paying £400 towards.

 

[Deleted member 10041]

PCP is decent enough if you go in with your eyes wide open. Predicted value at the end of term is not an exact science either, there are still variables involved that can cause things to fluctuate

 

[MoDolph]

I agree with a lot of the above and I admit that sometimes it can be useful. However, I suspect that the vast majority of people do it because they simply cannot afford to buy it outright but still want the shiny new thing.

I think most people here would think that it is a mistake to buy a 50' TV from Bright House, or whoever, on weekly payments instead of buying it outright. I see PCP in the same way.

If I didn't have a spare £32k cash available, I would be looking for something a lot cheaper instead.

 

[Cocijo]

PCP’s have been amazing good news for the motor industry. Controversially, most customers don’t really fully understand a PCP, but look at a new car and how much deposit/cost per month.
Most don’t have the money saved for the final payment, and want a new car by then anyway, and so the next PCP is born.

Great fleas have little fleas upon their backs to bite 'em,
And little fleas have lesser fleas, and so ad infinitum.
And the great fleas themselves in turn have greater fleas to go on;
While these again have greater still, and greater still, and so on.

 

[Cocijo]

I agree with a lot of the above and I admit that sometimes it can be useful. However, I suspect that the vast majority of people do it because they simply cannot afford to buy it outright but still want the shiny new thing.

I think most people here would think that it is a mistake to buy a 50' TV from Bright House, or whoever, on weekly payments instead of buying it outright. I see PCP in the same way.

If I didn't have a spare £32k cash available, I would be looking for something a lot cheaper instead.

Yes. The modern culture is not to save and buy, as it used to be.
If you can afford the monthly payments then you can afford it!

 

[troopercooper]

Someone's having your pants down reference the "throwing in for free" next he'll tell you they're taxing it at no cost to you

I rang them to confirm, 100% it no longer comes with the granny plug now.

 

[psin]

I too got the granny cable and so forked an additional £1k for the charging point at home plus £130 for a type 2 cable. Something to think about if it’s your 1st EV.

The dealer gave me the MG mats for free, but tbh the quality isn’t t great

 

[Cocijo]

Manufacturers mats are seldom that good quality, it’s just nice to have the MG badge on them. Others are not that bothered and go after market.

 

[4ND]

I rang them to confirm, 100% it no longer comes with the granny plug now.

A pity, one would think the Type 2 EV charger would be a given.

 

[Ayoull]

I rang them to confirm, 100% it no longer comes with the granny plug now.

Seems odd as the 3pin is advertised as the emergency charging option, can't see it listed on any literature either, but I could be struggling to see the wood for the trees

 

[Oberoy]

Seems odd as the 3pin is advertised as the emergency charging option, can't see it listed on any literature either, but I could be struggling to see the wood for the trees

I don't trust that this dealer knows what they are talking about.

 

[FiferMG4]

New prices now up on MG’s website:

MG4SE SR £26,995.00
MG4SE LR £29,495.00
MG4 Trophy LR £32,495.00

All-New MG4 EV | Fully Electric Hatchback

 

[Deleted member 10041]

Hope everyone got their orders in, £1000 closer to the competition

 

[meangreen]

Hope everyone got their orders in, £1000 closer to the competition

All other manufacturers have upped their prices by way more than £1000 in recent months. SAIC / MG seem to be the only ones offering value at present. ORA Funky cat turned out to be smaller battery and way overpriced. BYD have announced German prices for the Atto 3. Lower specs and the base model starts at several thousand more than the equivalent top model does in NZ and Australia.

Just look at Volvo, the XC40 recharge before taxes, £6000 cheaper in Australia and a better spec. UK one doesn't even have a reverse camera on a £46,000 car!

Manufacturers are trying to eat from the European honey pot while demand is high. UK consumers are being ripped off on a lot of cars.

 

[Lovemyev]

I do feel now that MG are happy that they have established themselves firmly in the EV market place now and that the days of offering discounts and incentives on their cars, have become a thing of the past pretty.
When the Gen 1 ZS EV was first brought to the market, the grants where all still available.
The plug in grant was £3,500.00 and then at the time MG matched this to bring in more orders.
There was also free wall boxes being offered and then came the blue light discounts etc.
But as the grants fell away and demand / sales continued to climb, it became apparent to MG that people still wanted their cars, even without the incentives and at a more expensive screen price.
When the MG4 was released, they brought it to the market at reasonable price point.
Pretty sure it would be well received, they offered no incentives / discounts.
Demand has therefore resulted in a price increase in 2023.
Honestly, I cant see the introduction of any discount incentives for a while.
With a 3 - 4 month possible lead time on the MG 4 and a huge 18 month wait time on a less equipped more expensive new factory order for a Gen2 ZS EV then its hard to see where any discounts are gong to come from frankly .
While MG are able to under cut the other manufactures on a price to price basis, they will still take orders in the U.K.