MG did not miss its return to Europe with a range of 100% electric and plug-in hybrid models that are convincing and in tune with the times. Among these models, there is the MG ZS EV, a 100% electric urban SUV which has just been restyled and which is displayed from €99/month. Let’s see together what are the advantages and disadvantages of this rental offer.
Source: Frandroid
Are you looking for a new electric car? You are certainly anticipating future environmental standards, which will be more and more restrictive for internal combustion cars and which, in time, will lead to the pure and simple disappearance of combustion engines. Electric cars are on the rise today and their sales are constantly increasing. Last year, in France, more than 160,000 electric cars were registered, an increase of 46% compared to 2020.
Buying a new car also means making a choice regarding financing. And your favorite sales advisor has surely already praised the financing he offers, and in particular leasing with option to buy or long-term leasing. To differentiate the two, it’s simple, you “rent” the car in both cases for a period of time defined when signing the rental contract.
The difference between these two rental offers comes at the end of the contract, after 2, 3, 4 or 5 years. With the LOA (rental with option to buy), you will have the choice between exercising the option to buy (previously defined when signing the contract) or returning the vehicle. The LLD (long-term rental) does not include a purchase option at the end of the contract. In other words, you return the car.
This financing makes it possible to display certain models at monthly rates which are psychologically more accessible. Looking more closely at these offers, several conditions must be met. What sometimes leave empty-handed when the rent displayed and posted on the Internet and on all communication channels doubles if you do not meet all the conditions.
This is why, within this section, we offer you a breakdown of the offers of the moment. We are going to take a closer look at the conditions to be met and whether, economically speaking, this financing can be suitable for the use you will have of the vehicle.
After having deciphered the offer of the Škoda Enyaq iV available from €299/month, and that of the Kia EV6 from €297/month, we are going to go down from €200/month with a particularly interesting offer: the MG ZS EV from €99/month. And to find out all about this 100% electric SUV, we invite you first to read our full review of the model, which has just gone through the restyling box with some interesting updates.
Which MG ZS EV model is offered at the price of €99/month?
By discovering the French site of the British brand (passed under the Chinese flag fifteen years ago), we immediately came across this offer. By taking a closer look, and by going through the small lines of the general conditions, we notice that the vehicle presented in the photo is not completely the one concerned by the offer. A great classic among manufacturers. We photograph a top-of-the-range model with the pricing “frome” of the entry-level model.
The MG ZS EV shown in the photo is a “Luxury” version fitted with the 51 kWh battery pack (“Standard Autonomy” version). The ZS EV range is relatively simple, with two “Comfort” and “Luxury” finishes and two battery levels. There, there is no real deception, since the model in the photo is simply the finish of the top and there is no big difference between the two versions.
We will come back to this below. The MG ZS EV pictured with the offer actually costs €149/month. It also includes the metallic paint option, something that the offer that interests us does not include. In other words, for the offer, it will be a white ZS EV and nothing else, under penalty of leaving the 99 €/month.
But then, what do we have for 99 €/month? A well-equipped car, even if it is the entry-level model, since the standard equipment is particularly generous. It is an MG ZS EV in “Comfort” finish with the 51 kWh battery allowing a range of 320 kilometers under the WLTP cycle.
This version is equipped with an electric motor of 177 horsepower and 280 Nm of torque. In terms of equipment, the “Comfort” version immediately includes automatic air conditioning, semi-autonomous driving in the event of traffic jams, or even the 10.1-inch touch screen and LED optics.
On the other hand, if you want to add one or two options, you immediately leave the offer and the monthly payments go up. But the options are not many at MG. If you want to have more equipment, such as a sunroof for example, you will have to go to the level above.
What are the conditions to be eligible for the MG ZS EV LLD offer?
This is a long-term rental offer over 24 months and 20,000 kilometers maximum. As the announcement explicitly mentions, a contribution of 10,500 euros is mandatory to take advantage of the 99 €/month. From this contribution, the maximum ecological bonus of 6,000 euros eligible until June 30, 2022 must be deducted. This offer is subject to the conversion bonus of 2,500 euros. Once all these aids are combined, the contribution drops to 2000 euros. To bring the monthly payments below the 100 €/month mark, the brand applies a commercial discount of 1500 euros on the vehicle.
With your LLD, MG obviously includes vehicle maintenance and warranty. The offer is valid until March 31, 2022, but it should be renewed until the maximum ecological bonus decreases to 5000 euros from the 1er July 2022.
How much will the MG ZS EV LLD offer cost you?
A quick calculation allows us to realize that the offer is interesting, especially given the price/equipment ratio. Over two years of rental, with contribution, your MG ZS EV will cost you 4277 euros with maintenance and warranty. MG displays its ZS EV from 24,990 euros on its site, ecological bonus of 6000 euros deducted. With the discount of 1500 euros which seems already acquired, you therefore fall to 23,490 euros.
Starting from this price, you will therefore pay, over two years, 18.2% of the price of your car. This is very low compared to other offers (usually around 30 or 40%), which means that the residual value is rather high. As a reminder, the residual value corresponds to the value of an asset at the end of its period of use or rental.
This value is therefore equivalent to the acquisition cost minus the depreciation made during the useful life of the asset. However, the offer is only for two years, so the residual value is much higher compared to that on vehicles leased for three, four or five years.
Here, you won’t have to bother with resale since the car will have to be returned after 24 months. Beware, however, of the costs of restoration, which are always expensive at the time of return. We advise you to do it before at a bodybuilder, it will cost you less than at a dealership.
What are the benefits of the MG ZS EV LLD offer?
The quality/price ratio is the main advantage of this offer, with a very well-equipped car, as we pointed out during our test drive. With 177 horsepower under the hood, it’s more than enough to move this “small” SUV 4.31 meters long, both at ease in urban areas and on the secondary network.
With its latest restyling, the MG ZS EV has made a big leap forward in terms of manufacturing quality and road performance, with a car that is much better held, better finished and equipped with rather convincing technologies for the segment.
The price practically defies all competition. Apart from Dacia with the Spring (which does not benefit from the same level of quality, nor the same power, nor the same autonomy), few manufacturers display such an advantageous price. Most of the time, it takes almost more than double for an LLD of a model in this segment, but again, few manufacturers offer offers for only two years.
What are the downsides of the MG ZS EV’s LLD offering?
There are not many disadvantages to this offer, apart from the trade-in of an old vehicle to benefit from the conversion bonus. For the ecological bonus of 6000 euros, everyone can benefit from it since it is conditioned to the price of the car, in this case it must be displayed at less than 45,000 euros to benefit from the maximum aid.
As stated above, and this applies to all vehicles rented in LOA or LLD, the return costs can be high. They are established following the passage of an automotive expert who highlights the elements to be repaired on the vehicle. Before returning your vehicle, do not hesitate to go through the professional of your choice to take advantage of more advantageous rates.
Apart from the trade-in condition of an old vehicle, the prescribed mileage in two years is quite low. 20,000 kilometers over the rental period, this gives 10,000 kilometers per year, or approximately 830 kilometers per month and approximately 27 kilometers per day. This will be suitable for the majority of customers who will use the car to get to work, but it does not leave much room for extras.
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