£20k MG MG5 EV 61kWh Long Range SE

[J2daG1990]

Saw this pop-up up on Hot Uk Deals:

https://www.baylis.uk.com/mg/offers/pre-reg-delive...

If you go through CarWow you'll can get something around £18,795 then ask Dealer to match their price.

Might be a good deal for anyone interested in a "cheap" EV that can do around 250 miles!

[Wagonwheel555]

Assuming a 50% deprecation over 4 years, realistically if you are doing £200-£220pm in ICE fuel now, the net cost of this car could almost be zero over that 4 years in fuel saving alone. Roughly of course but ultimately you could drive a brand new car for very very little money,

[TheDeuce]

Wagonwheel555 said:

Assuming a 50% deprecation over 4 years, realistically if you are doing £200-£220pm in ICE fuel now, the net cost of this car could almost be zero over that 4 years in fuel saving alone. Roughly of course but ultimately you could drive a brand new car for very very little money,

In general I think there are a lot of people driving around in old ICE sheds that scoff at the 'silly price' of EV's, without realising they could pretty much cover off the monthlies on one (especially a used one) for the price of the fuel they use!

Not applicable to everyone obviously, but I suspect the number that are missing a trick is in the millions.

[Zero Fuchs]

That's astonishing IMO. If I were in the market for a runaround, this would be it, but it'd also make a great main car for someone.

It's really turning into a buyers market, which is just how I like it. I've hated the recent era of no discounts and inflated values, but am a complete miser when it comes to car buying

[Sycamore]

TheDeuce said:

Wagonwheel555 said:

Assuming a 50% deprecation over 4 years, realistically if you are doing £200-£220pm in ICE fuel now, the net cost of this car could almost be zero over that 4 years in fuel saving alone. Roughly of course but ultimately you could drive a brand new car for very very little money,

In general I think there are a lot of people driving around in old ICE sheds that scoff at the 'silly price' of EV's, without realising they could pretty much cover off the monthlies on one (especially a used one) for the price of the fuel they use!

Not applicable to everyone obviously, but I suspect the number that are missing a trick is in the millions.

This is somewhat me. I keep looking at cheap EVs, but I do probably 3000 miles a year max is all, so it's not quite worth the jump yet as fuel costs are so small for me being maybe a full tank each momth, and my 14 year old Civic never costs me anything.

I need to start driving around for the sake of it to increase my fuel costs so it'll push me to an EV

I do like the look of something like a Hyundai Ioniq 38kwh for ~£10k. I'd buy outright but even if looking at that £10k over say 4 years I'm probably only spending an extra £100 to be in a much newer car that better suits my driving. Dammit you've convinced me

[TheDeuce]

Sycamore said:

TheDeuce said:

Wagonwheel555 said:

Assuming a 50% deprecation over 4 years, realistically if you are doing £200-£220pm in ICE fuel now, the net cost of this car could almost be zero over that 4 years in fuel saving alone. Roughly of course but ultimately you could drive a brand new car for very very little money,

In general I think there are a lot of people driving around in old ICE sheds that scoff at the 'silly price' of EV's, without realising they could pretty much cover off the monthlies on one (especially a used one) for the price of the fuel they use!

Not applicable to everyone obviously, but I suspect the number that are missing a trick is in the millions.

This is somewhat me. I keep looking at cheap EVs, but I do probably 3000 miles a year max is all, so it's not quite worth the jump yet as fuel costs are so small for me being maybe a full tank each momth, and my 14 year old Civic never costs me anything.

I need to start driving around for the sake of it to increase my fuel costs so it'll push me to an EV

I do like the look of something like a Hyundai Ioniq 38kwh for ~£10k. I'd buy outright but even if looking at that £10k over say 4 years I'm probably only spending an extra £100 to be in a much newer car that better suits my driving. Dammit you've convinced me

3k miles a year? Probably about £6 a month in electricity. Once you have the EV that would mean you could use it far more, for fun, and would have no noticeable impact on your wallet.

Hope that helps with the man maths

[Huzzah]

TheDeuce said:

Sycamore said:

TheDeuce said:

Wagonwheel555 said:

Assuming a 50% deprecation over 4 years, realistically if you are doing £200-£220pm in ICE fuel now, the net cost of this car could almost be zero over that 4 years in fuel saving alone. Roughly of course but ultimately you could drive a brand new car for very very little money,

In general I think there are a lot of people driving around in old ICE sheds that scoff at the 'silly price' of EV's, without realising they could pretty much cover off the monthlies on one (especially a used one) for the price of the fuel they use!

Not applicable to everyone obviously, but I suspect the number that are missing a trick is in the millions.

This is somewhat me. I keep looking at cheap EVs, but I do probably 3000 miles a year max is all, so it's not quite worth the jump yet as fuel costs are so small for me being maybe a full tank each momth, and my 14 year old Civic never costs me anything.

I need to start driving around for the sake of it to increase my fuel costs so it'll push me to an EV

I do like the look of something like a Hyundai Ioniq 38kwh for ~£10k. I'd buy outright but even if looking at that £10k over say 4 years I'm probably only spending an extra £100 to be in a much newer car that better suits my driving. Dammit you've convinced me

3k miles a year? Probably about £6 a month in electricity. Once you have the EV that would mean you could use it far more, for fun, and would have no noticeable impact on your wallet.

Hope that helps with the man maths

A tank of fuel is around £50 so call it a £45 saving £500 a year ish. Higher ins costs (additional £200) and from next year Higher RFL (currently £35 pa) negate any saving for us.

[Zero Fuchs]

Huzzah said:

A tank of fuel is around £50 so call it a £45 saving £500 a year ish. Higher ins costs (additional £200) and from next year Higher RFL (currently £35 pa) negate any saving for us.

Low mileage = low savings shocker

It was the same with diesel for low mileage drivers and won't be much different with EV, although there are other savings like servicing, which help.

But for many that do more miles, this type of deal will be brilliant.

[TheDeuce]

Huzzah said:

TheDeuce said:

Sycamore said:

TheDeuce said:

Wagonwheel555 said:

Assuming a 50% deprecation over 4 years, realistically if you are doing £200-£220pm in ICE fuel now, the net cost of this car could almost be zero over that 4 years in fuel saving alone. Roughly of course but ultimately you could drive a brand new car for very very little money,

In general I think there are a lot of people driving around in old ICE sheds that scoff at the 'silly price' of EV's, without realising they could pretty much cover off the monthlies on one (especially a used one) for the price of the fuel they use!

Not applicable to everyone obviously, but I suspect the number that are missing a trick is in the millions.

This is somewhat me. I keep looking at cheap EVs, but I do probably 3000 miles a year max is all, so it's not quite worth the jump yet as fuel costs are so small for me being maybe a full tank each momth, and my 14 year old Civic never costs me anything.

I need to start driving around for the sake of it to increase my fuel costs so it'll push me to an EV

I do like the look of something like a Hyundai Ioniq 38kwh for ~£10k. I'd buy outright but even if looking at that £10k over say 4 years I'm probably only spending an extra £100 to be in a much newer car that better suits my driving. Dammit you've convinced me

3k miles a year? Probably about £6 a month in electricity. Once you have the EV that would mean you could use it far more, for fun, and would have no noticeable impact on your wallet.

Hope that helps with the man maths

A tank of fuel is around £50 so call it a £45 saving £500 a year ish. Higher ins costs (additional £200) and from next year Higher RFL (currently £35 pa) negate any saving for us.

I said it would apply to millions, not everyone. I'm thinking there are a lot of people putting more like £2-3000 a year worth of fuel into an old ICE car, and higher RFL, maintenance costs etc.

[OutInTheShed]

£20k is still 100,000 miles of diesel.

What this kind of deal really does though is rip the used value of EVs.

My next car could be something vaguely similar a couple of years old, for the price of 50k miles of diesel.
That really does start to look like 'paying for itself' during my ownership.

It could really start to impact the used value of IC alternatives, if they sell these in quantity.

Trouble is, most buyers are only looking at the next three years.

[ashenfie]

TheDeuce said:

I said it would apply to millions, not everyone. I'm thinking there are a lot of people putting more like £2-3000 a year worth of fuel into an old ICE car, and higher RFL, maintenance costs etc.

I saw it was only 3k miles a year. I do 4k miles a year and that’s £30 a month. So £360 a year of petrol plus your RFL. Further if it not purely home charging then it’s hardly worth the pain and deprecation.
Unless you go Tesla Charing is expensive well over 45p. Then again spending £500-700 per month on a PCP plus insurance for a Tesla makes for no advantage.

[Sheepshanks]

OutInTheShed said:

......
What this kind of deal really does though is rip the used value of EVs.

Yeah, I'm looking at something nearly-new that's done up to 10K for around £30K but to do 15K/yr in. I just know in 2yrs time it's going to be worth £15K, if that. Probably less with total 40K miles on it when there's people buying EVs to do 5Kyr.

Just can't bring myself to look at MG though. Company is iffy, local dealer is crap and there's loads of issues with the cars.

[TheDeuce]

ashenfie said:

TheDeuce said:

I said it would apply to millions, not everyone. I'm thinking there are a lot of people putting more like £2-3000 a year worth of fuel into an old ICE car, and higher RFL, maintenance costs etc.

I saw it was only 3k miles a year. I do 4k miles a year and that’s £30 a month. So £360 a year of petrol plus your RFL. Further if it not purely home charging then it’s hardly worth the pain and deprecation.
Unless you go Tesla Charing is expensive well over 45p. Then again spending £500-700 per month on a PCP plus insurance for a Tesla makes for no advantage.

I think when I reference 'millions' it's fairly obvious I'm not talking about one chap on here that does 3k a year

There must be millions of people in the UK with an old ICE car doing 15k+ miles a year and they're making do with an ageing car because they're spending a lot of money on fuel.. my point was that it's likely a lot of people in that position haven't even done the maths, they simply assume they can't afford a newer car.

[OutInTheShed]

TheDeuce said:

....

There must be millions of people in the UK with an old ICE car doing 15k+ miles a year .....

Must there?
It would be interesting to know exactly how many people do high mileages in sheds.

There are people who do high mileages in IC cars, but a lot of them fall into traps where an EV isn't great, like certain sorts of private hire, people on call etc.
There are people like my friendly Yodel bloke, who racks up a dfair mileage of stop-start driving where an EV would be fine, but he's using a Toyota that makes my shed look good. His depreciation per mile is probably not measurable in any sensible currency. And today's diesel is weighed off against today's earnings, no 'overhang' of ongoing commitment etc.

[TheDeuce]

OutInTheShed said:

TheDeuce said:

....

There must be millions of people in the UK with an old ICE car doing 15k+ miles a year .....

Must there?
It would be interesting to know exactly how many people do high mileages in sheds.

There are people who do high mileages in IC cars, but a lot of them fall into traps where an EV isn't great, like certain sorts of private hire, people on call etc.
There are people like my friendly Yodel bloke, who racks up a dfair mileage of stop-start driving where an EV would be fine, but he's using a Toyota that makes my shed look good. His depreciation per mile is probably not measurable in any sensible currency. And today's diesel is weighed off against today's earnings, no 'overhang' of ongoing commitment etc.

Actually most private hire cars I get these days seem to be electric, or at least PHEV. I guess they're saving on tax for personal use and also a lot of fuel. It's rare to get an uber in a city which isn't electric now.

But to your first question, I have no data but I think it's likely that a million+ people have an older ICE car and do 15k+ miles a year in the UK, not for a specific reason, just general back and fourth driving. It doesn't take much to reach that sort of mileage of you have a couple of kids at different schools and commute several times a week too. Or if you just like driving... I do about a 12k a year and realistically half of that could easily be avoided.. but I like the alone time my car offers me, and the opportunity to play loud music

[DT1975]

Sheepshanks said:

Just can't bring myself to look at MG though. Company is iffy, local dealer is crap and there's loads of issues with the cars.

My lad has one. His first had an issue charging so they (Cinch) gave him his money back literally without any investigation and within days - fair play, he replaced it with another they were selling.

I'd tried to talk him into a Hyundai / Nissan or similar but this suited his needs in relation to size / dogs etc and sheer value for money plus the 7 year warranty. He loves it, had one issue with the wiper, no problems sorting so his dealer must be sound. Although I wouldn't get one, like you have the same issue over the company, its still a pretty decent drive and place to sit if you simply want A to B cheaply.

It's probably depreciating more than he's saving on fuel but I don't have the heart to tell him plus he's keeping it long term. He says if he can get 10 years out of it he'll be happy.

[Zero Fuchs]

I'd imagine if he can keep it for 10 years, depreciation will be irrelevant. However, the fuel savings won't if he can charge at home and does enough mileage.

[OutInTheShed]

Zero Fuchs said:

I'd imagine if he can keep it for 10 years, depreciation will be irrelevant. However, the fuel savings won't if he can charge at home and does enough mileage.

If it's bought for £20k and kept for 10 years, I'd guess the depreciation will be quite close to £20k.

10 years is a long way ahead.
A lot of people who can afford a new car now won't want to be driving a nine year old car in nine years' time.
Although I do know a couple of fairly wealthy people who seem to buy new cars and keep them until they are more ELV than shed.

I reckon in 10 years time there will be a lot of EVs on the road, and a lot of homes will have batteries, so a lot of competition for any cheap rate electricity?

[Zero Fuchs]

OutInTheShed said:

Zero Fuchs said:

I'd imagine if he can keep it for 10 years, depreciation will be irrelevant. However, the fuel savings won't if he can charge at home and does enough mileage.

If it's bought for £20k and kept for 10 years, I'd guess the depreciation will be quite close to £20k.

10 years is a long way ahead.
A lot of people who can afford a new car now won't want to be driving a nine year old car in nine years' time.
Although I do know a couple of fairly wealthy people who seem to buy new cars and keep them until they are more ELV than shed.

I reckon in 10 years time there will be a lot of EVs on the road, and a lot of homes will have batteries, so a lot of competition for any cheap rate electricity?

Well, we can only go by what was posted, so am assuming the chap keeps the car as stated.

I think you're applying ICE logic to a modern EV, which is less applicable nowadays. I've a 6 year old i3s and the battery capacity is still ~86%. A lot of other EVs are coming out after 8-10 years with 70% or more. Even assuming horrendous degradation, a 63kWh battery will still power an average house for a week, so there's a bit more value in old EVs than there is an ICE car, unless it's collectable.

But even if it were worth nothing in 10 years, £2k/year is pretty good when also paying ~2 pence per mile.

Who knows how electricity pricing is going to go. Upwards I suspect but otherwise not really that predictable and will depend on uptake.

[ashenfie]

What about the repairs either ice or EV that’s going to kill the suspension.