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Getting behind the wheel of a brand-new MG is easier than you might think. We believe MG ownership should be straightforward and transparent, which is why we offer a variety of flexible funding options tailored to suit your budget and lifestyle.
Whether you are looking for lower monthly repayments or a path to full ownership, we have a plan for you:
PCP (Personal Contract Purchase): This popular option offers ultimate flexibility. You pay an initial deposit followed by fixed monthly instalments. At the end of the agreement, you can choose to pay a final "balloon" payment to keep the car, trade it in for a new model, or simply hand the keys back.
CS (Conditional Sale): If you prefer a simple route to ownership, CS is a great choice. After an initial deposit, you pay off the remaining balance in equal monthly instalments over a set term. Once the final payment is made, the car is yours.
Explore Your Options Ready to see the numbers? Use our calculators below to compare PCP and CS plans and discover just how affordable a new MG can be.
We know that financing your new car can be an uncertain process.
Questions such as what is the best product for me? What is the best time frame? What our my options at the end of the my contract? are regularly asked by our customers. Talking to us can get you through the process with the right product quickly and effortlessly.
These videos will take you thought not only what is the best product for your needs but also what are the advantages of the additional service WLMG offers at the time of purchase of your new car.
What is PCP car finance?
Personal Contract Purchase (PCP) finance allows you to pay for a selection of a vehicle’s cost over a fixed term, but then settle the balance and own the car once that contract ends. If this is not something you’d like to do, then you can also return the car back to us and have nothing more to pay.
As a result, PCP financing offers much greater flexibility than a Conditional Sale, also known as a Hire Purchase, in which the total cost of the vehicle is split, and you own the car once the deal ends.
How does PCP finance work?
You first pay a deposit on your chosen MG vehicle. Next you agree the length of your payment plan – typically, the longer the plan, the less expensive the payments.
An Optional Final Payment is also agreed. This is the amount it will cost you to own your vehicle outright once the payment plan ends and based on a forecast of the car’s worth once the agreed number of years have passed.
The Optional Final Payment is deducted from the car’s cost when assessing monthly repayment pricing. PCP, therefore, is often likely to be a more cost-effective finance option than a Hire Purchase, as the payments are not designed to cover the full cost of the car.
Another option to explore using our car finance calculator 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.
Finance Terms & Conditions:
WLMG Limited is an Appointed Representative of Automotive Compliance Ltd who is authorised and regulated by the Financial Conduct Authority (FCA No. 497010). Automotive Compliance Ltd’s permissions as a Principal Firm allows WLMG Limited to act as a credit broker, not a lender, for the introduction to a limited number of lenders, and to act as an agent on behalf of the insurer for insurance distribution activities only.
We are a credit broker and not a lender. We can introduce you to a carefully selected panel of lenders, which includes manufacturer lenders linked directly to the franchises that we represent. We act on behalf of the lender for this introduction and not as your agent. We are not impartial, and we are not an independent financial advisor.
Our approach is to introduce you first to the manufacturer lender linked directly to the particular franchise you are purchasing your vehicle from, who are usually able to offer the best available package for you, taking into account both interest rates and other contributions. If they are unable to make you an offer of finance, we then seek to introduce you to whichever of the other lenders on our panel is able to make the next most suitable offer of finance for you. Our aim is to secure a suitable finance agreement for you that enables you to achieve your financial objectives. If you purchase a vehicle, in the majority of cases, we will receive a commission from your lender for introducing you to them which is either a fixed fee, or a fixed percentage of the amount that you borrow. This may be linked to the vehicle model you purchase.
Different lenders pay different commissions for such introductions, and manufacturer lenders linked directly to the franchises that we represent may also provide preferential rates to us for the funding of our vehicle stock and also provide financial support for our training and marketing. But any such amounts they and other lenders pay us will not affect the amounts you pay under your finance agreement; however, you will be contributing towards the commission paid to us with the interest collected on your repayments. Before we propose you to a potential lender, we will inform you of the likely amount of commission we will receive and seek your consent to receive this commission. The exact amount of commission that we will receive will be confirmed prior to you signing your finance agreement.
All finance applications are subject to status, terms and conditions apply, UK residents only, 18s or over. Guarantees may be required.
Personal Contract Purchase (PCP)
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