MG6 in top 3 of new MSN chart - MG-Rover.org Forums
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post #1 of 23 (permalink) Old 17-12-2015, 17:18 Thread Starter
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MG6 in top 3 of new MSN chart

MSN has the MG6 at number 3 on a new chart of highest depreciating cars. The two above are expensive electric cars that due to limited range, lack of appeal and high cost of replacing the batteries are virtually worthless second-hand.

So is the MG6 the highest depreciating conventionally fuelled car in the UK?

The top 25 fastest depreciating cars of 2015

I know there are some on here that question the maths/percentages of residuals, state that no-one pays list, etc. but of course you could say that about most cars.
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post #2 of 23 (permalink) Old 17-12-2015, 17:50
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Depreciation of electric cars will appear pretty savage as it won't take into account the 5k contribution from the government.

Poor show for the MG6 but not entirely unexpected, and goes to show what good value the car is second hand.
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post #3 of 23 (permalink) Old 17-12-2015, 19:15 Thread Starter
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Originally Posted by LeRich View Post
Depreciation of electric cars will appear pretty savage as it won't take into account the 5k contribution from the government.

Poor show for the MG6 but not entirely unexpected, and goes to show what good value the car is second hand.
And to be fair to the MG6 these are predictions for the new models. In reality not enough are being sold to drive down the figures as much as predicted. The S model is 13995 and I don't think we'll be seeing 3 year old diesel 6s for sale at under 4000 in 2018 - but I might be wrong.

Dealers seem to be asking more for them and are prepared to hold on them for ages. There is a Magnette for sale with a distinctive maple leaf sticker that has been up for sale for about 6 months.
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post #4 of 23 (permalink) Old 18-12-2015, 08:16
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Not only has the new MG6 sold in very small numbers, but it's a diesel, and perhaps people are turning their backs on that kind of engine because of the VW scandal and the actual fact that all diesel emissions are harmful. MG Motor may have got it right with the MG3 after all. I have already turned my back on diesel power.

Perhaps the MG6 will get a massive rarity value in a few years. Buy now!
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post #5 of 23 (permalink) Old 18-12-2015, 08:21
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I forget who it was but someone was trying to tell me how good they are on the depreciation.
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post #6 of 23 (permalink) Old 18-12-2015, 15:42
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This could have a very bad effect on our cars if the insurance industry use these figures. With their (perceived) value of a 3 year old car it wouldn't take too much of a knock for them to say that the car was beyond economic repair (i.e the cost of the repair would exceed the value of the car)
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post #7 of 23 (permalink) Old 18-12-2015, 20:19 Thread Starter
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This one looks like nice car - MG MG6 1.8 TCi Magnette SE 4dr

At 5200 and on a 62-plate it is suggesting 26% of new value at 3 years old. The mileage is slightly high at 58K when Parkers say average mileage should be 40K.

It is incorrectly listed as an SE (including the description which says it has 17" wheels when they are clearly the 18" ones) but they have had it for a long time so they may let it go for even less for a quick sale at this time of year.
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post #8 of 23 (permalink) Old 18-12-2015, 21:37
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not sure why everyone is surprised by these figures, back in 2011, before I purchased my 6, I predicted being a low mileage car, average of 6k per year if it would be worth 30% of list I would be more than happy, I am pleased to say that this prediction was pretty much correct.

What did you think a car built in China wearing the badge of a defunct British car company that had the reputation for building unreliable cars would be worth after 3 years.

Agree no one pays list and on brands such as Ford and Vauxhall you can get good discounts.when I was looking for a new car the levels of discount I could get ranged from 5% to 10%, I didn't buy a Mk2 6 because they would not budge on discount, but on the Mk 1 25% was the norm.
Whilst it shows a MK2 I think the figures are based on a Petrol MK1.
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post #9 of 23 (permalink) Old 18-12-2015, 21:59
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Originally Posted by matthewsemple View Post
This one looks like nice car - MG MG6 1.8 TCi Magnette SE 4dr

At 5200 and on a 62-plate it is suggesting 26% of new value at 3 years old. The mileage is slightly high at 58K when Parkers say average mileage should be 40K.

It is incorrectly listed as an SE (including the description which says it has 17" wheels when they are clearly the 18" ones) but they have had it for a long time so they may let it go for even less for a quick sale at this time of year.
I think you would find that some one would probably buy something like this diesel Ford Mondeo 1.6 TDCi ECO Zetec 5dr (start/stop) rather than the lower mileage petrol MG6 TBH
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post #10 of 23 (permalink) Old 18-12-2015, 22:05
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Originally Posted by Jay13 PNTHR View Post
I forget who it was but someone was trying to tell me how good they are on the depreciation.
I think you will find it was me!

% means nothing remember 100% of nothing is nothing ! Cash in pocket to me is more important and of the 3 cars I shortlisted in 2011, I am better off with the MG6.
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post #11 of 23 (permalink) Old 19-12-2015, 07:43
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Off the topic question, but is the mg6 1.9 diesel engine mg specific? Or is it shared with other manufacturers?
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post #12 of 23 (permalink) Old 19-12-2015, 09:03 Thread Starter
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Quote:
Originally Posted by littlechicken View Post
Whilst it shows a MK2 I think the figures are based on a Petrol MK1.
I think you're right there. How can they possibly know what the resale prices will be yet, anyway? It will always be a guess.
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post #13 of 23 (permalink) Old 19-12-2015, 23:24
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Off the topic question, but is the mg6 1.9 diesel engine mg specific? Or is it shared with other manufacturers?
MG specific (at least in the UK).
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post #14 of 23 (permalink) Old 04-01-2016, 12:39
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Just a thought, 5 year old MG6's are coming up for sale at around 25% of list, I purchased a low mileage 5 year old ZR for less than 10% of list in 2010...
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post #15 of 23 (permalink) Old 04-01-2016, 13:49
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Have MG Motor UK gone bust then?
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post #16 of 23 (permalink) Old 04-01-2016, 14:29
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Speaking of which, how much money have 5yr old SAABs lost?

Worth pointing out resale values (as in the first article) are calculated against part-ex rather than retail prices and usually at fairly high 'average' miles. Most MG6s seem to be low miles compared to what's seen as average mileage (20,000miles p/a) by these residual calculations.
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post #17 of 23 (permalink) Old 04-01-2016, 18:34
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MG3 values are holding out well. My brothers Fiesta cost 12k, my MG3 cost under 8k. I'd guess they will both be worth 4-5k in 3 years time based on current second hand values.
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post #18 of 23 (permalink) Old 05-01-2016, 12:14
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Originally Posted by t0m4ever View Post
Have MG Motor UK gone bust then?


No, but its the association with a failed company that is not helping, don't you think?


The more credible comparison is the TF, when I order my TF 85Th at 13K, it was suggested on this forum I go for a late TF as I would save around 10K buying a 4 year old TF with low miles.


A quick search on Auto trader will show that apart from a cat D LE500, a 7 year LE500, that was listed at only 16K (less than the MGR TF), and majority sold for a lot less than list, are still fetching around 6K.


The values on MG Motor TFs have changed very little in the past 2 years, could this be the same with the MG6 as the brand gets more established?
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post #19 of 23 (permalink) Old 05-01-2016, 12:26
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Originally Posted by EbeneezerGoode View Post
Speaking of which, how much money have 5yr old SAABs lost?

Worth pointing out resale values (as in the first article) are calculated against part-ex rather than retail prices and usually at fairly high 'average' miles. Most MG6s seem to be low miles compared to what's seen as average mileage (20,000miles p/a) by these residual calculations.


The ZR I purchased was 30K miles, it was a lovely car but I sold it at a loss of 100. I will be honest, I managed to get a part ex figure for our MG3 against the Nissan at pretty much what the 3 retailed at, however agree that some wouldn't.


The other problem with the MG6, to Joe Public it is a unknown quantity so that slightly higher Mondeo or Insignia will have more appeal.
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post #20 of 23 (permalink) Old 05-01-2016, 12:42 Thread Starter
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Quote:
Originally Posted by littlechicken View Post
could this be the same with the MG6 as the brand gets more established?
The trouble with these comparisons are that very few cars from the new company have been sold unlike the ZRs, etc which sold in large numbers and were produced in even larger numbers causing an oversupply. If the MG6 sold the targeted 2000 cars a year then there would be many more on the second-hand market and we'd see them at much lower prices.

Those cars that do come on the market are mainly being sold by dealers and the prices do look quite strong. If and when MG Motor start selling cars in more significant numbers, I cannot imagine a situation where the prices will not drop quite substantially. This will be for two reasons: more cars will be sold privately, through auction or from non-franchised dealers and the dealers won't have the space to keep all those cars unsold for long periods of time with unrealistically high asking prices.

This 62-plate TSE (listed as an SE) has been on sale at 5200 for many months - MG MG6 1.8 TCi Magnette SE 4dr

At what price would it sell?
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