You said yourself. The MG5 makes up half of the available used market as it is.
Thinking of getting an EV
- Thread starter danlightbulb
- Start date
A list price of £33k and they are offering it brand new for £23k would be great - but if its only this one dealer then I may find it hard to access that deal. For example if the salary sacrifice scheme could also get this price then it would make that a lot cheaper too.
Associate
Certainly worth asking the question of the company dealing with your salary sacrifice leases I'd think.
You think that a company offering lease cars via salary sacrifice isn't already getting that same vehicle for less than Joe Bloggs can buy a single car for via Auto Trader?
Maybe, but are they passing that on to me?
You don't think its reasonable to question whether a lease company is passing on the dealer discount to me or creaming off the top?
Its no wonder inflation is rampant if people never question value and just pay.
Isn't the autotrader one last years model
more generally few bit's of rust maybe - https://youtu.be/pSrKtJb8Aso?t=502
he'd mentioned, they're frequently used as taxis, haven't seen any in cambs though, mostly toyota hybrids.
& some handling
Soldato
I suggest you contact them and find out, maybe because a newer model is out? I really don't know..
It will be factored into the sums but to give a very simplistic answer to a not so simple question, no. They will simply leverage any discount to give them a bigger profit.
Why do they need to pass on the discount anyway? It simply needs to come in at a price point that will be appealing to people and keeping in mind that we are over 300 posts deep into a discussion that started with your own sums stating how cheap the EV SS MG5 worked out to be then that is job done surely?
Just wait until the revelation that your employers SS provider is probably ramping up the lease costs compared to a non SS lease...
Man of Honour
Creaming off the top? They're not there to be your mate they're a profit driven business if they can get it cheap and people will still pay what they're asking why on earth would they charge less.
Most leasing works on thin margins - they try and stay ahead of the asset depreciation and then aim to profit on disposal. It's a competitive market and for EVs especially so as private sales are struggling to get above 15% at present. Leasing co's often get much deeper discounts than dealers do as they are prepared to take more cars and it's easier to deal with them at the end of the month/quarter when OEMs are desperate to wholesale stock that is on their balance sheet.
The problem with EVs and leasing is that no-one really know how the residuals will pan out as we move in to this phasing out of ICE and it can be an expensive baby you are left holding if you buy wrong. Making money is automotive ain't easy. Would you invest in a business that makes 1-2% return on sales? The market is as transparent and competitive for consumers as it ever has been. So long as you accept that cars aren't investments and the trick is to keep your cost of motoring as predictable and low as possible then you will be ok.
Personally I wouldn't buy a new EV unless it was via one of the tax efficient ways. Used values have really fallen hugely but show signs of levelling out now. Leasing de-risks you from the market volatility but leaves you nothing to roll into the next car.
Associate
So you do 1k miles a month?
If you average 4mi/kWh then you could save over £200 a month in running costs alone.
Ev tariffs are around 7p per kW so that's about 2p per mile so that's £20 a month vs £200-£250.
If you average 4mi/kWh then you could save over £200 a month in running costs alone.
Ev tariffs are around 7p per kW so that's about 2p per mile so that's £20 a month vs £200-£250.
Soldato
Nope, that's the current model
Yes... that's the entire point of this thread so far
Associate
Ahhh yeah, may have jumped the gun before reading the whole thread. Their initial post only had savings of about £100 in fuelNope, that's the current model
Yes... that's the entire point of this thread so far
Soldato
100% agree with this, as pointed out he could buy something and easily move it on with little loss or effort if buying something not ideal, but quite close, and buying at the low end.
He can't lose more than the £250 month being thrown against the wall in fuel, heck in 12 months the car would need loose almost £3k, and, if he picks up that cheap MG5 that is highly unlikely given how cheap it is already, as it would be worth more in parts.
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Im going to get the MG5.
I just need to decide whether to go zero risk and get the lease or get a loan and buy the car myself.
Here are four options. Lease, buy new car (for very good £23k deal price seen earlier), buy 3 yr old previous spec model, or buy 1 yr old facelift model.
Ive put on what the residual values might be after 5 more years. £9k for the new car, £5k for the older one and going in the middle, £7k for the 1 year old car. These are complete guesswork so I don't think they should influence the figures really.
Obviously the facelift model is nicer and has upgrades in several areas over the pre-facelift model.
I just need to decide whether to go zero risk and get the lease or get a loan and buy the car myself.
Here are four options. Lease, buy new car (for very good £23k deal price seen earlier), buy 3 yr old previous spec model, or buy 1 yr old facelift model.
Ive put on what the residual values might be after 5 more years. £9k for the new car, £5k for the older one and going in the middle, £7k for the 1 year old car. These are complete guesswork so I don't think they should influence the figures really.
Obviously the facelift model is nicer and has upgrades in several areas over the pre-facelift model.
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