MG4 EV review: running costs & insurance
Running costs for MG’s electric family hatchback are likely to be much lower than for its petrol-powered alternatives, especially if you’re planning to run one as a company car
|Insurance group||Warranty||Service interval||Annual company-car tax cost (20%/40%)|
|27-29||7yrs/80,000 miles||1yr/ 5,000 miles||From £108/£216|
While new electric car prices have been rapidly increasing in recent months, the MG4 has launched with a starting price of just under £26,000, making it one of the very cheapest electric cars on sale today. And even if you want to upgrade to the Long Range model, that’ll only set you back less than £28,500, which is several thousand pounds less than you’d have to pay for the equivalent VW ID.3 or Cupra Born.
Of course, like all electric cars, you pay zero road tax for the time being, company-car tax is much lower than any petrol or hybrid alternative and even servicing should be relatively inexpensive as well. Simply put, the MG4 will be one of cheapest-to-run family cars you can buy – electric or otherwise.
MG4 EV insurance group
The MG4 falls into insurance group 27 to 29 depending on which drivetrain and trim you go for. That's certainly higher than your average VW Golf, but the MG attracts similar ratings to rivals like the VW ID.3 (18-26), Cupra Born (25-28) and Renault Megane E-TECH Electric (26-27).
MG’s impressive seven-year/80,000-mile warranty for its electric cars is among the best in the business, providing coverage for the car and its batteries. Those offered by Kia, Hyundai or Toyota do have longer coverage periods and mileage limits, we don’t expect many people who get an MG4 on a three or even four-year finance deal will come close to exceeding that 80,000 limit. But it undoubtedly provides peace of mind.
MG says all its models should be serviced once a year or every 15,000 miles, whichever comes first. It offers service plans on its electric cars from as little as £6 per month, with repayments spread over two to five years. The service plans cover periodic maintenance, safety inspections and 12 months' AA roadside assistance. Although, exact service intervals have yet to be confirmed, either.
As with all electric cars, the MG4 currently doesn't attract any road tax, but that will come to an end in 2025. The same goes for EVs’ exemption from the London Congestion Charge, but you don’t have to worry about either for now, and you enjoy only 2% Benefit-in-Kind (BiK) company-car tax for the next few years.
In This Review
- 1VerdictThe MG4 EV combines range, practicality and loads of kit into a sharp-looking, fun-to-drive package all at an unbeatable price
- 2Range, battery & chargingFor the money, the Long Range MG4 EV’s 281-mile range is hard to beat, while rapid charging speeds are on par with key rivals from VW and Cupra
- 3Running costs & insurance - currently readingRunning costs for MG’s electric family hatchback are likely to be much lower than for its petrol-powered alternatives, especially if you’re planning to run one as a company car
- 4Performance, motor & driveThe MG4 EV lives up to its looks with quick steering and plenty of poke that make it fun to drive around town and on a back road; plus there’s a 400bhp hot version still to come
- 5Interior, dashboard & infotainmentThe MG4 EV is exceptional value for money, offering plenty of kit regardless of which trim level you go for, however, its infotainment system is one of the car’s biggest weaknesses
- 6Boot space, seating & practicalityWhile it doesn't match the boot capacity of some other electric family cars, the MG4 EV’s cabin is spacious and comfortable
- 7Reliability & safety ratingThe MG4 EV boasts a five-star Euro NCAP crash safety rating, and we expect it'll be very reliable, too