MG Finance - Which is best for you?

We make financing your MG easy.

When looking for your next vehicle, one of the things you’ll want to consider is how you’re going to pay for it. You may decide to save so that you can buy a new car outright, or you can spread the cost with our flexible finance options.




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There are a number of things to consider before taking out finance against your vehicle. Would you like to own the car at the end of the term? How much deposit do you have? And what are your annual mileage needs? These are all things a car finance calculator will use to help create a tailored payment plan for you.

At MG, we offer two flexible finance packages to suit everybody. These are:

1.Personal Contract Purchase (PCP)
2.Purchase Plan

Read on to discover which of these may be best for you.


MG PERSONAL CONTRACT PURCHASE (PCP)

Choose your desired vehicle, along with a deposit, the length of the agreement and a maximum mileage. At the end of the period you have the option to buy the car outright for an agreed amount, known as the GMFV (Guaranteed Minimum Future Value), or return the vehicle back to the lender (within agreed fair wear and tear limits) with absolutely no further obligation.

AT THE END OF THE AGREEMENT YOU CAN:

  1. Make a final payment and own the car
  2. Hand the car back to MG with no further payments (as long as the mileage limit hasn’t been exceeded and there’s no damage to the car beyond reasonable wear and tear)
  3. Part-exchange the car for a new vehicle

With the above options, PCP is a particularly useful finance option for people who like to change their car on a regular basis. For more information on our current PCP offers, visit our Finance Offers page.



MG PURCHASE PLAN

Another option to explore is a Purchase Plan. As with PCP, you can choose whether you wish to finance the whole car or put down a deposit so that your monthly payments are reduced. You also choose how long you want to pay the car off for, and enjoy fixed interest rates throughout the duration.

With this straightforward loan option, the car is yours at the end of the term.





Norton Way Group are SAF APPROVED having ensured all eligible staff have successfully passed the Specialist Automotive Finance Expert Test. This certification provides an assurance to finance customers that they are receiving expert advice from a knowledgeable motor dealership, whose staff are committed to raising standards and improving knowledge of finance sold to private and business vehicle buyers.