The MG4 Electric Hatchback - the perfect small EV to lease

Is the MG4 Electric Hatchback the perfect small EV to lease?

Costs - one of the initial obstacles to the all-electric transition is the alleged price disparity between petrol/diesel options vs EV. But prices / costs are something which have been burgeoning across all platforms since the COVID debacle where a shortage of microchips and parts led to manufacturers reducing output on new car production across the world.

This resulted in escalating costs for new, and used cars, with the simple “supply and demand” economics coming to fruition. Nothing was “cheap” from 2020 - 2022.

But, with a steady increase in production and more alignment with demands, we have witnessed a move back towards the traditional procurement strategies for the UK’s leasing industry with considered discounts and loyalty offers emerging. For electric cars, this has been no different, although some manufacturers have perhaps overvalued their product, misunderstanding that the UK’s appetites have probably not been consistent across all types of customers.

A catalyst to the growth of the UK’s EV lease market has been the generous tax advantages for business customers, using contract hire or salary sacrifice schemes. While we won’t detail all of these, it’s useful to be aware that as a company you, and the drivers, enjoy some sage financial benefits which relate to BiK, tax reclamation, corporation tax and running costs.

And remember that at the initial boom of electric cars, there were generous grants in place to help offset some of the costs. But with the removal of grants on the cars, plus the grant removal on home chargers, the lack of price alignment by car manufacturers did have a knock-on effect in the retail and consumer industry.

Unable to enjoy some of the key benefits which businesses have, there were admittedly problems in promoting the joys of EV lifestyle to the retail demographic. But throughout 2023, we have noted a shift in OEM attitudes to this, with increasing discounts and special offers on bulk purchase for personal contract hire customers.

Only today, 2 October 2023, MG have confirmed such renewed efforts on their electric product, with the MG5 estate, ZS SUV and popular MG4 receiving such support. As you will see in our dedicated MG4 section - the prices reflect what we would call a more affordable monthly rental. And we can attest that this is a generous product, with the e-car enjoying an MG4 on their own fleet. Customers can enjoy a number of options including:

•  SE (standard range) - from £26,995 this 50.8 kWh usable battery offers MG Pilot, 10.25” colour screen, 7” Driver Information Display and Apple CarPlay. A combined real-world range of 185 miles, 6.6 kW AC and 117 kW DC charging capabilities and a full charging cost from £17;
• SE Long Range - from £29,495 this 61.7 kWh usable battery has the same spec as the smaller battery. On performance this has a combined real-world range of 225 miles, 11 kW AC and 140 kW DC charging capabilities and a full charging cost from £21;
•  Trophy Long Range - from £32,495  this 61.7 kWh usable battery offers a 360 parking camera, wireless phone charger, navigation, heated front seats / steering wheel and the mobile phone Bluetooth key. The performance of the battery is the same as the above;
• Trophy Extended Range - from £36,495 this 74.4 kWh usable battery has the same spec as the above. On performance this has a combined real-world range of 265 miles, 11 kW AC and 144 kW DC charging capabilities and a full charging cost from £24; and

•  xPower  - from £36,495 this 61.7 kWh usable battery has launch control, track mode display, alcantara upholstery and 18” alloys. On performance this has a combined real-world range of 200 miles, 11 kW AC and 140 kW DC charging capabilities and a full charging cost from £25. 

But should you opt for the maintenance package for your MG?

With an array of specification and battery options, MG have done a fabulous job of meeting the needs of most drivers. From low-mileage to high-mileage requirements, there is a robust solution. But one of the big questions which does get raised is “should I include the maintenance package with my lease?"   

When you look at our e-car lease website you will be asked about including a quote for the maintenance aspects. With contract hire and leasing, the vehicles we supply are either brand-new or nearly new (usually no more than 6 months old). What this means is the warranty will often be in place for the full term, or most of it (warranty can vary between 3 - 7 years).

But a vehicle warranty is not about maintenance; this is a protection put in place by the brand for any defects, issues or problems not caused by the driver. So if your new MG EV had an engine management light on, you call your local MG dealership or MG breakdown - roadside assistance and so long as this issue is not down to you, the warranty will organise any remediations. This does NOT include a courtesy car by right so this is something you need to check with the dealership. e-car lease do not offer courtesy cars as part of our leasing offers.

For general servicing, maintenance and tyres you need to review the requirements of the manufacturer. So for the MG4 you have to service it every 12 months or 15,000 miles, whichever lands sooner. In addition, you need to ensure the tyres are legal; in particular you cannot return the car to the finance company at the end of the contract with less than 2mm tread depth.

For most finance companies, you can organise your service with either a franchised dealership or a VAT-registered garage using genuine parts. Because EV servicing is more specialist, there are not huge volumes of EV service centres as of yet.

For a driver-maintained arrangement on a lease, the obligation to service and maintain the vehicle (including cost) is the driver’s and you must organise and pay for all of the works to be carried out.In addition, any tyre changes due to wear/tear or through punctures must again be covered by the driver.

For a funder-maintained arrangement, or all-inclusive lease, the EV has the benefit of the finance company’s maintenance package. At e-car lease, you will receive a card with the telephone number for the finance company to arrange all of your servicing, tyres and breakdown requirements via one port of call.

For more risk-averse customers, this provides for fixed cost motoring with only the cost of motor insurance, charge point and energy left to cover. However, with our brand new EVC™ you can access all of these with some of our preferred partners.

Browse our MG4 deals

By including an EV maintenance package you have the protection that if anything goes wrong, so long as it was not due to your error, you have a dedicated team to support you throughout. And if your car goes beyond the warranty period, this is where the added protection really assists.

But taking a maintenance package (funder-maintenance) is not compulsory and is simply something for you to review with your new MG4. For more details, ask our expert team.

In terms of the car shown, the MG4 HATCHBACK 150kW Trophy EV Long Range 64 kWh 5dr Auto (Pure Electric Vehicle), this is based on the following:

•  Volcano orange - Tri Coat Paint
•  Leather style - Black with cloth inserts
• 18" alloy wheels with low wind resistance aero cover
•  Mode 3 / Type 2 Charging Cable (Public Charging & home wallbox charger – Fast charging)