I'm wondering what the resale or trade-in prices are like for people's MG ev's. Quite a few people here are trading in their ZS ev's for the latest ZS or 5 EV after only a year or two.
So, what have been your experience so far?
Second hand prices are generally really strong at the moment, due to the limited availability of new cars, and EV's are no exception to this rule.
A few members have taken advantage of the strong residuals and decided to replace their cars, maybe a little earlier than they originally intended too !.
Using the usual places like We But Any Car and Carzoo will give you a pretty good, ball park figure on what to expect for your car in Part X.
Dealers are tending to be offering prices quoted on or around prices by W.B.A.C. or in that area.
They are already assume that many owners will do their home work and check the value of their current car before turning up at the dealership.
I have had two valuations from two different dealerships on my current ZS EV and both are almost bang on the WBAC price.
The Carzoo valuation was higher, and others have seen similar results.
I have placed a deposit on a ZS EV Trophy face lift, for delivery some time in March.
The dealer has already offered my a guaranteed valuation for my car.
But I still have the option to sell the car myself if I wish.
If prices continue to rise between now and mid Feb 2022 - I will therefore sell it on my self.
So, effectively I get to keep using my current ZS EV until early March and already know what the trade in price will be as a fall back plan.
Other owners have reported either a very small loss return or even some have shown a profit on selling their cars !.
The recent launch of the ZS EV face lift can be seen in two lights really.
Some people on 3 or 4 year PCP plans find to hard to justify the expensive of the upgrade and I can totally see that.
The first ZS EV deliveries started in about November of 2019 so these cars are only just over two years into their PCP contracts.
The face lift is more expensive ( which does not help ) than the previous model and upgrading early will require the remainder of the PCP contract being consolidated into the new contract.
This is going to drive up the monthly payment by a significant amount per month.
Next year, and it may have been a different story.
For cash sale customers who bought way back in 2019 with the extra Gov grant incentive and the MG contribution, they are in a good place now to take advantage of the strong residual prices.
This is good news for MG dealers as early in the new year they will be delivering a lot of new cars, while taking in some much needed EV stock to place on the forecourts.
These cars will now be at a price point for new potential EV customers who just can not afford the budget for a brand new EV.
Winner winner, chicken diner !.
