Not so long ago, a new sports car with more than 400 hp was not necessarily within everyone’s reach. This is still not the case today, even if MG has, in addition to democratizing the electric sports car, offered its MG4 XPower at very attractive monthly payments. So should we let ourselves be seduced?
On the MG side, we really like to ride the social leasing trend initiated by Emmanuel Macron’s government, but which is struggling to come into effect. As we write these lines, we still do not know about the electric car at 100 euros per month promised by the current president during his previous campaign, and we do not know the outlines of this offer either.
For their part, certain manufacturers have taken the lead and played on this common thread, notably MG which offers its MG4 and MG5 from 99 euros per month, or even Fiat which communicates on its small electric 500 at the same price. The Sino-British manufacturer is rather quite aggressive in terms of prices, even if the brand has perhaps already eaten its white bread in 2023 with the new ecological bonus rules arriving in France next year. To find out everything about this, do not hesitate to consult our dedicated file.
But for the moment, all MG4s are affected by the ecological bonus of 5,000 euros (or 7,000 euros depending on income)even the most powerful, the famous MG4 XPower which we recently tested and which, let’s admit it, rather seduced us.
MG also offers a very interesting financing offer for a 435 hp car, since the MG4 XPower is currently accessible for 349 euros per month. If the bonus were to disappear for MGs next year, perhaps this offer is a golden deal. Decryption.
The MG4 XPower offered at 349 euros per month
For this offer, it will be relatively simple, since the XPower version is already the top of the range of the MG4. As a result, apart from a few options, there is already almost all the equipment available as standard. Here is a selection:
- Android Auto and Apple CarPlay
- 360° parking cameras with reversing radars
- Active shutter grille
- Dual-zone air conditioning
- LED lights
- Automatic windshield wipers
- 10.25-inch central touch screen
- Android Auto and Apple CarPlay
- 7-inch digital instrumentation
- 18-inch alloy wheels
- Orange brake caliper covers
- Reading the signs
- Anti-collision, drowsiness, blind spot and lane departure alert
- Integrated GPS navigation
- 6 HP DAB radio
- Heat pump
- Inductive charging
- Three USB ports (including 1 USB-C)
- Adaptive cruise control until stop
- Heated and electrically folding mirrors
- Leatherette and Alcantara upholstery
- Electrically adjustable driver’s seat
- Heated front seats and steering wheel
- Dark tinted rear windows
- Black roof
- Color Dover White
Only the paint is optional, notably the “Hunter Green” of the version in the photo which costs, like all the other shades, 650 euros. If you choose another paint from “Dover White”, the monthly payments increase to 359 euros per month.
With 435 hp and 600 Nm of torque0 to 100 km/h is achieved in 3.8 seconds, which is as much as a new generation Audi RS 3 Performance. Not bad for 349 euros per month, isn’t it? At the rear, MG has installed a 245 hp electric machine borrowed from the MG4 Extended Autonomy (77 kWh). At the front, the second engine makes 204 hp (the one mounted at the rear on the MG4 64 kWh).
The MG4 XPower is equipped with the 64 kWh battery of the 204 hp rear-wheel drive version, giving it a range of 385 km WLTP (i.e. 50 km less than an MG4 with the same battery).
The MG4 XPower benefits from the latest maximum DC power update with 140kW. So it takes about 26 minutes to go from 10% to 80%. On a three-phase 11 kW terminal (not 22 kW, even as an option), recharging from 10 to 100% will take 6.5 hours, while on a domestic socket, a full charge will take 26 hours.
How much will the MG4 XPower LLD cost you?
If the car itself is a bargain at that price, to get it, it becomes an obstacle course to get into the nailsas usual at MG, but they would be very wrong to deprive themselves of all the levers offered by the government (for the moment).
For the MG4 XPower from 349 euros per month, this is a long-term rental offer on 48 months and 10,000 kilometers per year, or 40,000 km in total. MG indicates that this offer is subject at a first rent of 9,500 euroswhich returns to zero once the ecological bonus of 7,000 euros and the conversion bonus of 2,500 euros are deducted.
MG is playing on a tax detail specific to this year 2023 and which we hope to see disappear, because it is a real bag of knots. As you are probably aware, the maximum ecological bonus has fallen to 5,000 euros at the start of 2023, but it can still be 7,000 euros depending on certain tax conditions.
In fact, the bonus can reach 7,000 euros (up to 27% of the purchase price) for households with a tax income per unit of less than 14,089 euros. It’s difficult to consider purchasing a new car with such tax income.
Other conditions to be met: that of the conversion premium. To benefit from this bonus, you must scrap an old diesel or gasoline model. The old scrapped vehicle must be a car or van whose gross vehicle weight does not exceed 3,500 kg. The date of first registration must be before 2011 for diesels and before 2006 for gasolines.
The vehicle must have belonged to the beneficiary for at least one year, while the reference tax income per share indicated on the tax notice of your income from the previous year must be less than or equal to 13,489 euros.
How much will the MG4 XPower LLD cost you?
Over four years of long-term rental, your MG4 XPower will cost you 16,403 euros. MG displays its car from 40,490 euros on its site, ecological bonus of 7,000 euros and conversion bonus of 2,500 euros not deducted.
Always considering that you are entering the correct tax regime, once all the aid has been deducted, we arrive at a price of 30,990 euros. At this price, even cash, it’s an excellent deal for a 435 euro sports car.
Starting from this price, you will pay over the four years of the rental 52.9% of the price of the car. This is more than the discount over four years for this type of car. The demand for electricity continues to increase and this implies a certain price stability. As the offer is not a LOA, there is no option to buy back the vehicle. It will therefore be necessary to return the car at the end of the financing.
Be careful with the restoration costs, these can be high at the time of return. We advise you to do this before at a bodybuilder, it will cost you less than at your dealership in general. If you take a vehicle back from your dealership after your LLD, they will also be a little less careful about repair costs.
Things to remember
As you may have noticed, there are many conditions to be met to obtain this offer, and most new car customers will not fit all the criteria. MG obviously makes no secret of it, it is an introductory price intended to bring customers into the dealership and to direct those who do not fit into all the boxes towards another offer.
So far, there is nothing particularly new compared to what other manufacturers are doing, it is a well-known commercial maneuver, and not only among car brands.
The price of 349 euros per month is very attractive for a 435 hp sports car, where most of its thermal competitors are two to three times more expensive. However, after the calculations, it would seem that MG still has something to do with this offer, since the 52.9% paid by the customer for four years of LLD suggests a fairly weak residual value for a product which has no reason not to maintain a good second-hand rating for the next few years, especially with the energy transition of the automobile market. Purchasing on credit might be more interesting.
MG4 Xpower at 349 euros per month: good or bad deal for the competitor of the Tesla Model 3 Performance?
If you are interested in this car, we advise you to act quickly, since, from next year, barring any huge surprises, there will no longer be any ecological bonus for the car. As a reminder, the government is considering implementing a bonus that would take into account the environmental impact of the production cycle of electric cars.
A protectionist measure, in particular in response to measures recently taken by China and the USA, which aims to “penalize” cars manufactured on the other side of the world. The MG4 being manufactured in China, it could therefore no longer have bonuses in France from next year, like the Dacia Spring.
Therefore, unless MG further lowers the prices of its cars, they will be more expensive from 2024 and the monthly payments should re-incorporate this price increase due to the disappearance of the bonus.