0% Financing at MG: Better Than a Big Discount?

Even a low-interest loan can quickly add to the bill. So when MG offers financing at 0%, why hesitate?

The MG manufacturer had promised a year-end marked by attractive offers, and they keep their word. After launching the MG4 starting at €21,990, the big news is the 0% interest credit offer, valid for any order placed before December 21, 2024.

A 0% interest loan allows you to spread the total cost of a vehicle over several months, without additional charges. Unlike a traditional consumer credit where you pay back both the borrowed capital and interest, here, each euro borrowed is repaid at no extra cost. For example, for a €100 loan over 48 months at 5%, you won’t pay €105 but about €110, because interest is calculated annually and not over the entire duration. On a €20,000 car, this makes a significant difference: €22,060 instead of €20,000. With a traditional loan, the longer the term, the higher the cost.

MG takes care of its financing

Let’s get back to the MG offer. This 0% credit is available for the MG4 and MG3 Hybrid+ models, two best-sellers of the brand. However, it does not cover the full price of the vehicle, which slightly limits its attractiveness. For the MG3 Hybrid+, the maximum financed amount is €12,000, and for the MG4, it’s €15,000. Despite this, these caps cover a large part of the entry-level versions’ prices, making it a very competitive offer. Additionally, these interest-free loans are available over 24 or 36 months, shorter than the usual 48 months, further reducing the impact of monthly payments.

Why choose this 0% credit over leasing? With a credit, you become the owner of the vehicle once the repayment is complete, which is not the case with a Lease with Buy-Back Option (LOA) or a Long-Term Rental (LLD), where the vehicle must be returned. Therefore, never compare the monthly payments of a lease with those of a credit purchase. If you plan to buy a MG4 outright or finance it through your bank, this 0% credit offer over 24 months is more advantageous. However, if you prefer to drive without committing long-term, a LLD might be better suited.

In summary, each option meets specific needs. Take the time to get advice to choose the solution that suits you best. And to stay updated on great deals, reading Mobiwisy is always a smart move!

READ ALSO: When will there be a 0% credit on the Tesla Model 3?