The MG4 for a long-term rental at € 249/month is a good deal and which version to choose

As for the majority of financing offers “from”, This is the basic model. At MG, it is the “standard” finish level that takes on this role, and as you can see via the list of the main equipment below, it is quite complete for an entry-level model.

MG4 LLD

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The MG4 for a long-term rental at € 249/month is a good deal and which version to choose ?

Barely presented, the MG4 is already displayed with rather attractive monthly payments on the manufacturer’s site in France. So is this funding as interesting as this electric car ? This is what we will see.

The MG4 has just been presented, with in particular its technical sheet, the different versions offered and the prices for France. Unsurprisingly, the Sino-British compact comes to play the spoilsports in the Renault Mégane e-Tech segment and other Volkswagen Id.3, by offering similar technical characteristics (or even better in some cases), All at much more affordable prices.

We have seen it in our dedicated comparison, it is more interesting, on paper, than its direct competitors.

By seeking, and not necessarily very long, on the MG Motor site, we quickly came across a particularly interesting financing offer on paper: MG4 from 249 euros per month for 48 months, all without contribution. Not bad for an electric compact sedan which claims between 350 and 450 km of autonomy with a single load, and above all an endowment of particularly extensive equipment. So is this funding ? Is it really worth it ? Does it meet your needs ? This is what we will discover in this article.

The MG4 offered at 249 euros per month

As for the majority of financing offers “from”, This is the basic model. At MG, it is the “standard” finish level that takes on this role, and as you can see via the list of the main equipment below, it is quite complete for an entry-level model.

• Quick recharging (DC) up to 117 kW
• Regenerative braking on three levels
• Driving aid MG Pilot (level 2 autonomous driving)
• 7 -inch digital counter
• 10.25 inch floating touch screen
• Key input and start -up
• LED headlights
• V2L system (vehicle to load)
• Rear parking sensors
• Autonomy of 350 km

The MG4 offers two other finishes above, but they are not affected by this offer at 249 euros per month. However, they can also be accessible, for several tens of additional euros on your monthly payments. Thus, on the “Comfort” finish, MG adds:

• Quick recharging (DC) up to 135 kW
• Active shutters grille (improves autonomy)
• Milk rear windows
• 17 -inch alloy rims with aerodynamic hub
• 450 km autonomy

The most upscale finish called “Luxury” is ultra-complete:

• Double rear spoiler (attention, slightly increases consumption)
• Heat pump (increases the autonomy by 10 % in winter)
• Heated front seats
• Heated leather steering wheel
• 360 ° camera
• Navigation in real time
• Wireless load of the phone
• Electrically adjustable driver’s seat in 6 directions
• Black imitation leather seats
• Dead angles surveillance
• Black contrast roof
• Autonomy of 435 km

For a basic model, the MG4 in “standard” finish is rather well equipped, even if the aesthetic filling could have been a little better. In order not to get out of the funding nails, you will have to be satisfied with a free white shade called “Dover White”.

At this price, this is the MG4 with its battery with a raw capacity of 51 kWh and its autonomy of 350 km According to the WLTP cycle. To reach a range of 450 km, you must target the “Comfort” or “Luxury” finishes only available with the 64 kWh battery. Only detail, the “Luxury” finish concedes 15 km of autonomy to the “Comfort” version because of its double rear spoiler which increases consumption. The model that interests us is provided with an electric motor of 125 kW (170 hp), Against 150 kW (204 hp) on other finishes. The two engines send 250 Nm of torque only to the rear wheels (propulsion).

What are the conditions for being eligible for the MG4 LLD offer ?

This is a long -term rental offer on 48 months and 10,000 kilometers per year. MG indicates that the offer at 249 euros per month is subject to a contribution (this is the first rent) of 6,000 euros, But it is absorbed by the ecological bonus of 6,000 euros. The offer is valid from 09/13/2022 until 12/31/2022.

After this date, The maximum bonus will increase to 5,000 euros and the financing offer will certainly change. Also specify that The first MG4s can be delivered before the end of the year.

How much will the LLD of the MG4 cost you ?

Over four years of long -term rental, your MG4 will cost you 11,703 euros. MG displays his car from 28,990 euros on his site, ecological bonus of 6,000 euros not deduced. This gives us, once the deductions have been made, a model displayed at the catalog price at 22,990 euros. MG does not practice commercial delivery, at least not for this model.

Starting from this price, you will pay for the four years of the rental 50.9 % of the price of your car. It is a little more than the discount over four years for this type of car, especially electric where demand continues to increase, thus involving a certain price stability. Used models will decorate in the coming years, but not as quickly as a thermal model of today. The offer is not a LOA, there is no vehicle buy -back option. It will be necessary to return the car at the end of the financing.

Watch out for restoration costs, they may be raised at the time of restitution. We advise you to do it before a bodybuilder, it will cost you less than your dealer in general. If you take a vehicle from your dealer after your LLD, it will also be a little less looking at the costs of repairing.

Should we favor LLD or classic credit ?

Few customers buy their new car in cash today. In the majority of cases, these cars are funded, either by an LOA or by an LLD or a conventional credit. And precisely, compared to a classic credit, is the LLD more interesting ?

Even if the rates have increased in recent months, these remain attractive, especially if you buy an electric car. For example, at Crédit Agricole Île-de-France, thanks to the “green car” loan and its 1.49 %TAEG, there is a way to arrive at interesting monthly payments.

Thus, by funding 22,990 euros (ecological bonus of 6,000 euros deduced), still over 48 months, we arrive at monthly payments 493.67 euros, without insurance. The total amount due is 23,696.08 euros, Credit will therefore cost you 706.08 euros.

Note that Crédit Agricole is not the only bank to offer this type of loan for electric cars. For example, at the national level, the CIC offers a rate of 1.75 % for the financing of a zero -emission car.

The elements to remember

As you can see, from a purely financial point of view, classic credit in a bank, in this case Crédit Agricole and its “Green Auto” offer, is not necessarily the best solution of a point of financial view, at least in the short term, since The monthly payments are practically twice as high compared to the LLD proposed by MG.

MG4	LLD	Bank credit
Bring	6,000 euros (bonus)	6,000 euros (bonus)
Maximum mileage	40,000 km	No limits
Duration	48 months	48 months
Monthly payment	249 euros	493.67 euros
Funding cost	–	706.08 euros
Total cost	11,952 euros	23,696 euros

The difference is explained only by the fact that with a conventional credit, You finance the entire car and, at the end of the 48 months, This one belongs to you. And you do not have a mileage limit. Regarding the LLD, you actually pay only part of the car (which you consume in fact) and at the end of the 48 months, you must return the car and pay fees if you exceed the kilometric limit.

Even if all monthly payments correspond overall to the natural discount of a car, This solution is only interesting if you want to change your car regularly (every 3, 4 or 5 years on average, these are the durations of the LLD) by paying part of the car, without annoying yourself with the resale at the end since you will have to return it.

The LLD is useful if you do not trust your car in the coast of your car and you already know that you will resell it in a few years. With this type of financing, you know in advance the total cost of possession (TCO in English for Total Cost of Ownership) of the car. On the other hand, in cash or on credit, you cannot know this price, since it will depend on the resale value of the vehicle. Nevertheless, demand in an electric car being constantly increasing, Prices should not access as quickly as a thermal model today.

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