New runout pricing for MY24 excite 51, get it while it hot
Driveaway price includes 12 months registration and compulsory third-party insurance cover. Offers available at participating MG Dealers for new stock vehicles only, sold and delivered between 01 September 2024 to 30 September 2024. While stock lasts. Excludes fleet, government, or rental buyers, or with any other offers.
Edit: The deal will now expire by the end of this month. Thanks to @Barry Quinn.
Same with me… but still happy with the deal I got. No regrets.
Isn't the ZS a bigger car? So not really a worse deal, or could be similar.
ZS EV is bigger, but its based off of the old ZS platform, whereas the ZST has the newer platform, including much nicer interior. I'm glad @the swear jar is happy with his purchase, but if I were in his shoes, I'd be devoed.
ZS has quite a bit more interior space. I got a ZS EV on novated lease about 18 months ago and had a "oh no, I've leased the wrong MG" when the MG4 launched not long after, but on taking a look at one I breathed a sigh of relief when I saw the interior size difference. I ride road and mountain bikes and the ZS's load space and hatch opening is much more practical for bike carrying (I'm too cheap to put a tow bar and bike carrier on it).
The ZS can, with the back seat down, actually just accommodate my medium sized 29er mountain bike.
@The Vat: Completely true, practical space is more important for most of the times especially for families!
@The Vat: What is the advantage of a novated lease beyond one year?
From what I can figure the first year is the only one that really makes sense with the EV FBT relief, after that the finance costs outweigh any other savings. Seems better to 'borrow' from the mortgage, or even to just pay cash outright.
@trapper: If you do 5 years, then the finance costs are broadly similar to the other savings.
So it works out at barely a saving - BUT you get to spread the cost over 5 years. Effectively for free.
Instead of buying the 50K car outright, simply drop that 50K into your mortgage and take the lease to pay for the car over the 5 year period. That 50K in your mortgage will save you a significant sum.
@Nom: Yeah, that's pretty much the model I was working with. Plus I have solar at home, but the bulk of my charging is done at a free charger, so day to day fuel costs are ridiculously low. It's worth considering this replaced a 20 year old small hatchback, so on top of fuel and servicing there are safety and warranty matters at play as well, not to mention modern amenities (remote AC is brilliant in Queensland).
Instead of buying the 50K car outright, simply drop that 50K into your mortgage and take the lease to pay for the car over the 5 year period. That 50K in your mortgage will save you a significant sum.
So using that example $50k in mortgage will save you something like $50,000 * 0.065 = $3250 a year. Financing $50k will cost more than this per year, so how do you come out on top?
@trapper: Especially when they don't sell well and the company takes a big dump on your resale value as they are with this sale.
@trapper: @trapper
So using that example $50k in mortgage will save you something like $50,000 * 0.065 = $3250 a year. Financing $50k will cost more than this per year, so how do you come out on top?
Over 5 years, that 50 grand in your mortgage has saved you over $15K.
Financing another 50K over 5 years to buy the EV costs effectively nothing if you go with a novated lease. That's how you come out on top - the novated lease comes with enough discount to pay for the financing cost. And if you are in the top tax bracket, it comes with enough discount to more than pay for the financing cost.
The end result is that the novated lease didn't make the car much cheaper - but it did allow you to spread the payment over 5 years for free, allowing you to drop the spare 50K that you were going to buy the car with, into your mortgage instead.
the only one that really makes sense with the EV FBT relief
This applies regardless of how you finance the car. ie a cash, loan, or lease of an EV also gets FBT exemption. So this is not a specific novated lease benefit.
Seems better to 'borrow' from the mortgage, or even to just pay cash outright.
Yep because the kicker with leasing is the interest rate is usually high which spoils the benefits. Cash or redraw is the best option.
This applies regardless of how you finance the car. ie a cash, loan, or lease of an EV also gets FBT exemption.
Wait what, how does this work? So I can buy an EV cash pre-tax, and so get a %37 discount??
Wait what, how does this work? So I can buy an EV cash pre-tax, and so get a %37 discount??
Are you currently paying 37% FBT?
FBT and income tax are two different things. FBT is usually when a company owned asset is used partially for private purposes such as a company car, ie you as an employee are receiving some sort of 'Fringe Benefit' from the use of an asset that isn't yours, and the government feels entitled to some of your benefit and so taxes you for it.
As part of greater interference in the free market, this government decided that rather than an equal playing field, they feel like certain engine types are more worthy of reward than others and decided to allow you to keep some of your own money if your world view aligns to theirs. Hence an FBT exemption for EVs.
So if the company car is EV and some other rules (see here for more) then you get full FBT exemption. This is useful for small businesses since they are the ones who usually use the vehicle registered in the company for personal use.
@1st-Amendment: No I'm paying 0% FBT. So I save 37% by paying pre-tax, and don't have to pay any FBT.
If I just buy a car outright with cash I don't think I can get any such tax advantage.
It seemed like you were suggesting you still could, maybe I misunderstood.
No I'm paying 0% FBT. So I save 37%
If you pay no FBT the an FBT exemption won't save you anything.
I think you have confused Income Tax with Fringe Benefit Tax. They are different things.
I'm paying no FBT because of the FBT exemption.
So why did you ask the original question 'So I can buy an EV cash pre-tax, and so get a %37 discount??'?
@1st-Amendment: I was saying a novated lease only really seems to make sense because you also get the FBT exemption.
ie Buying pre-tax and also getting the exemption.
I though you said this also applies when paying cash, so I was wondering how that is possible.
Seems better to 'borrow' from the mortgage, or even to just pay cash outright.
Yep because the kicker with leasing is the interest rate is usually high which spoils the benefits. Cash or redraw is the best option.
I have seen many people make blanket comments like this regarding leasing EV's in these comments. If leasing an EV with the FBT exemption does not make financial sense for you there are only three reasons why;
Leasing an EV should work for you if the entirity of you lease payment comes out of the portion of your income in the top tax bracket (i.e.45%) and you are not getting entirely reemed on interest.
Leasing EV's does indeed represent excelent value, as long as you already earn enough. As such its a benefit for the (arguably) already well off and not the everyday Joe.
Leasing EV's does indeed represent excelent value
Found the leasing company rep…
as long as you already earn enough
If you are willingly giving away 45% of your income to the government you are probably doing something wrong. If you are giving away 45% of your income to the government AND blowing tens of thousands of dollars on a rapidly depreciating asset you are definitely doing something wrong. Fools and money…
@1st-Amendment: Ahh, thanks for the career and investment advice. I'll need to take a long hard look in the mirror to work out where it all went so wrong for me.
Regardless of the valuable life lessons so generously given above, the facts remain. There are circumstances where for some, it is more beneficial to lease with the FBT exemption than to pay with cash or drawdown from the mortgage. Sounds like you are not one of those people, and thats OK, it really is.
@1st-Amendment: 1st-Amendment;
the kicker with leasing is the interest rate is usually high which spoils the benefits. Cash or redraw is the best option.
Also 1st-Amendment;
Your opinion is not fact.
Finally, a comment that makes sense. Full circle for a solid gold home goal. Thanks for the end of week chuckle.
Full circle for a solid gold home goal
Only if you can't read. You see nowhere did I claim to be offering facts… unlike your good self. Oopsy… What was that about own goals?
Thanks for the end of week chuckle.
Indeed… The comedy writes itself…
@IXXI: @IXXI
If leasing an EV with the FBT exemption does not make financial sense for you there are only three reasons why;
You have secured a shitty finance deal.
You do not earn enough money in a sufficiently high tax bracket to offset the additional overheads of the finance.
A combination of points one and two.
This is correct.
Leasing an EV should work for you if the entirity of you lease payment comes out of the portion of your income in the top tax bracket (i.e.45%) and you are not getting entirely reemed on interest.
Even on the next two tax brackets down, providing your lease company is charging around 10% interest on their finance, the EV novated lease does still work out slightly cheaper than the outright purchase. The real value is that even if you don't save anything on the lease, you've still financed your payments over 5 years for free. That allows you to do something more interesting with the lump sum you would have otherwise spent on the car !
adding MG to the list of OB favs
MG EVs. I think they hate the ICE cars.
The engine/transmission combo in the ICE cars is pretty terrible. Swapping it out for an EV eliminates about 95% of their issues.
Yeee I should've waited on the Tesla. I'm down 10k already lol
Larger car though and range very close
ZS EV is known for its abysmal handling though. Much rather have one of these, or wait for a larger car on an actual EV platform.
It okay I got the WA rebate to soften the blow for my 4 weeks old mg4 excite 51.
30k EV wow its gotten low now.
As much as this comment is getting hate, and as someone who's pro EV and owns 2, for different reasons I feel like his correct. Take out the ICE motor and all the BS that goes with it and EVs should be cheaper than they are, and cheaper than an ICE once batteries come down, and yet they are not…. Yet
I see it like the way CRT vs LCD TVs when they were introduced.
If you were to start producing CRT today, consider all the complexity of the cathode ray tube: the quality/quantity of crystal glass, the electron gun and steering of the beam, the masks and phosphor layers, it would cost so many times more to make these at scale and maintain acceptable quality. LCD TV on the other hand, roll sheets of display, put a backlight behind it, and you have it.
Similarly, consider all the systems and components in an ICE: Lubrication, cooling, fuel injection, air intake, ignition, exhaust and emission management systems.
vs a Battery charger and an electric motor.
p.s. cannot wait to get one. I will likely get one of these (although tempted to get the 77kWh model)
They are only more expensive without volume/scale.
@repeat: Just get the 51, it's a no brainier. I am almost thinking if upgrading my older EV, even though it's still perfectly fit for our current purpose
@Jackson: agreed. only one with the LFP battery so give it 10 years and it'll be likely on par with the larger batteries for useable range if there is heavy use.
Plus no cobalt useage
It's a funny one. I'm looking at batteries for home, and a "good' deal is anything that's <$1k/kwh installed
Look at this car and it's $31k drive away for 51kwH battery. That's like a huge home battery system with a car thrown in for free
(assuming you have a DC setup to draw power from car to your home)
@abowen: Yes, and only held back by the fact that it doesn't have the relatively simple BMS (and potentially associated minor hardware) to allow it to effectively supply and communicate with an in home system. It's a down right travesty that the govt hasn't got their act together on this and the mandated that all new cars come with the feature, yet they are subsidising batteries
They can supply around 2.4 to 3.2kW, but to run the entire house they should be upgraded to at least 10kW. It's supplies the car with far more after all, so it's never going to be run that hard at home
@Jackson: Great points. I'm looking at SigEnergy at moment, and they do have a DC charger but it's like an $8k install for +-12.5kw
Would also need to find a car that supports that, which is relatively affordable as well.
Likely just go with AC when go ahead as ROI likely not there as much as I love the idea of it
Similar with discharging, I think most are rated to ~5kw max at a time which is a little disappointing
We're definitely pulling 10kw when air con, stove, etc. are going.
Very cheap brand new EV… nice.
Telsa is Apple in EV. benchmark but lately lack of innovation
Apple is a great comparison, including paying a premium for features that others have for cheaper, and for bad design decisions that they flout as innovative (the no buttons in a Tesla is simply awful).
@kungfuman: Screw fully automatic driving. Not everyone wants to be lazy and “not think” when being in a car.
For a lot of people, driving is also about the experience and joy it provides.
@cnut: eventually those people will die out to make way for full autonomous vehicles. The only driving I would ever want to do is on a track. On public roads though humans are the the problem.
@kungfuman: Tesla fanboys, apple fanboys? And stuff autonomous driving, dont see that happening here with the drivers we have. Most people dont/have not looked further than a tesla due to them being a pioneer i agree, but goldstar? Its a faded gold i can say. Theres no perfect car mate, if youre on about fully customisable, any car can be, but for what cost and hassle? If teslas were and are continuing to be THE gold standard, why are they dropping prices like no tomorrow? Anyhow we citizens welcome a healthy price competition, on the contrary im sure people do their research :)
@H8Pootin: its funny because the facts speak for themselves you don't need to be a fanboy of anything you just need to look at the numbers. Its a gold standard for a reason its not based on why you think its not.
@kungfuman: While what you are saying is correct, OzB is anti autonomy and also anti tesla. It's okay they will adopt it slowly. If full autonomy is perfected only a matter of time before it's only fully autonomous cars on the road and manual driving cars will be paying some sort of extra tariff.
People who are skeptical have not witnessed technological advancement over the last 20 years and will be the next grandma/grandpa who aren't able to navigate the internet
But Tim Apple has not turned into a super-spewer of misinformation.
@shaybisc: I think your will find main stream media is full of misinformation and propaganda. you only need to do background research to know this.
@kungfuman: Well. It appears many Tesla fanboys are experts in battery chemistry/mechanical engineering when they talk about Tesla.
Lacking in innovation?! Who else has a cybertruck that the whole world wants but cant have?
@Fuzor: That was the Toyota Camry Hybrid during COVID when supply was constrained. Not much on the Camry for sure.
Look at the power you get with the performance model - no other manufacturer gets close at this price point. If I'm gonna compromise on EV vs ICE with no sound, then I at least want something that is fast so it is fun to drive.
BTW sticking to my M3, way more fun than an EV lol.
@Lets Make Sandwiches: 35 grand less. Could get two mg4 - one performance and one base model for the price of one model 3 performance.
More people have died from Tesla Full Self Driving than any other cars Autonomous Driving that I know. But I give them credit for being pioneering.
Natural selection at work.
Which other cars have fsd or similar and how many of these cars are out there?
The stuff coming out of China will blow Tesla away, they're pretty much done and they know it.
FSD is not really a thing in Australia so it’s currently irrelevant.
(What they call FSD here is a promise, at this point it’s really just autosteer, lane change, auto-stop near traffic lights).
Besides, I don’t know if you are being fair when you say “more people have died from FSD than other autonomous driving”. Yes they have been some cases of reckless use which has led to fatality, but it’s worth stating that until now FSD is always still supposed to be supervised and in all the fatal cases the drivers have been found to be negligent at the steering.
It also suffers from reporting bias where anything Tesla tends to get 10x publicity compared to other brands.
I highly suggest people put these in context before suggesting that Tesla’s autonomous features are inherently more dangerous than other cars.
Yes they have been some cases of reckless use
You call people reckless but you dont mention the hype man behind the recklessness? This is probably all the bias one needs to know.
People have lost their lives believing the hype…you can call it reckless, and it is, but lives have been lost.
@cloudy: I don’t know exactly how they have sold the FSD in US and what the instruction is, either by the car or the deplorable boss (yes I’m not a fan despite being appreciate of the car for what it is).
However at least in Australia, as I mentioned, it mentions multiple times as you switch on autonomous features the entire premise and caveats (ie YOU are in charge and you do have to HOLD the steering). In this setting, blaming the car for crashing when ignorant idiots behind the wheel decide to ignore these instruction, isn’t exactly fair don’t you think?
@changyang1230: Caveats are everywhere to legally cover arses. Caveats about how ciggies kill are eberywhere including the packs themselves. Do I blame cigarettes for Killing people or the people who smoke them? I blame the cigarettes, its designed to be addictive and suck people in.
When Musk says on X Full self driving is all great etc etc without caveat until you turn it on your own car and you still need to do everything as though you are driving but you are not makes no sense. People get sucked in and ignore those repeated warnings and its predictable someone will ignore those warnings, in fact many do, ignore it and many more will start using it for the first time, and after 20 uses of trouble free use will ignore the warnings to hold on and watch out will full intensity as though your driving because you naturally start to tune out after repeated instances of successfully driving without taking control.
But sadly the one time the system cant handle, your brain no longer has the attention and reflex as someone who is regularly driving.
This is all predictable, and those caveats no matter how many times you flash it means nothing when someone is dead.
Go do your research, then test drive compare.
In fact the case you've made there leads me to understand why people don't buy a Tesla.
I am a car person for some years now. Tested various EVs (one or the earlier crowd in Sydney to test drive), hybrids and plenty of opportunities with ICEs of the past and present.
Exactly the reason why I don't get people would pay $20k more for a rather basic EV without buttons, no roof lining, no radar/LIDAR for semi autonomous driving (cut the crap with FULL autonomous as it is NOT functional at this point of time). Not to mention that auto wiping function doesn't work more than 50% of the time (something that a low budget car can perform rather well).
Tesla has its merit with their motor and battery management (including cooling). The Chinese are pumping out things fast and not far behind Tesla.
No idea why when one's comment not promoting Tesla would be automatically assumed that they haven't researched about/driven a Tesla.
China is already ahead of Tesla.
You've picked a couple of minor complaints some customers have, I never said anything about autonomous driving either.
You've not driven both of these cars, clearly. If you're truly 'a car person' as you say you are, you'd know this MG drives, feels, handles and has the dynamics of what it is - a cheap place in the market. Not to mention the software, tech, upgrade capability, safety, etc is well below the Tesla class leading standard, which is almost an infinitely superior car to this.
This MG is a smaller car too, it should be a lot cheaper. The size would cross it off the list for many prospective Model 3 / Y buyers straight away.
In what realm should this thing be anywhere near the price of Model 3 or Y is more the question? Well?
@FXx: Yes, these are minor complaints, but again, far from gold standard if cant get the basics right.
I have driven a few, including the latest sealion and both model 3 and Y that are owned in the family. Hired a Cupra Born, EV6 with Eurocar for an interstate trip. If anything, the others are much more car like and functional than the Teslas. Seriously, no need to accuse things just to present a point. It's okay if a manual gear box is an anti theft device to you.
It's a cheap EV because its intended to be. Probably where Tesla also belongs. Any coders, mechanical engineers want to explain more on "software", "tech", and "upgrade capability"? Well, it does cost double, I would be concerned it cant compete with a 30k car. So far, experience with EV is that they are boring and have no soul. So, good for A to B at best, for now.
@FXx: The MG4 doesn't feel cheap at all, it's got truly surprisingly road manners and the interior finish is at a good, solid basic level - not luxury but also not BYD Atto cheap. At $45K you'd consider it, at $31K drive away it's a no-brainer for a runaround.
That's like asking why people are buying S24 Ultras instead of a Nokia
Nothing to boast about a s24u. On the other hand, everyone asks about the Nokia 8850 that sits on my desk. Haha
yep, they do and still boast about it
Claimed 'Range of up to 350km (WLTP)'
Yes, and quite realistic at that.
My ZS EV with the same battery size regularly gets the 320km they claim for that. This car is more aerodynamic and a little lighter, 350km sounds about right.
*realistic if you only drive around town and don't drive on the highway, where around 230-250km is realistic.
Source: Have owned an excite 51 for over 12 months and do 100km daily of mainly highway driving.
Any issues or complaints with the car? Would you advise a friend to buy it?
My "realistic" was looking at the driving that forms part of the WLTP test cycle.
And yes, the range of any EV will be significantly below WLTP when you mostly drive at high speeds.
For me, I can achieve that WLTP range as long as I stay within the Perth metro area. With freeway speed limit 100 and the usual slow downs to 80, plus some kilometers in city traffic either end my driving is pretty close to the test conditions, and the car delivers on the tested range.
Once I head towards Busselton I either limit myself to 100, or the range will be significantly less. Air resistance rises with the square of speed. Going 10% faster (110) means 21% more drag.
Well your drive pattern is not typical. Just look at all the ICE car and try to see their claimed consumption and their consumption for city only drive lol. MY kluger is advertised to be arounf 10l/100km, around town drive is 17l/100km
Each on its own, also you can have much better range if you drop your speed from 110 to 95. Your experience is not really typical.
should have waited … got the ZS EV few weeks ago :(