If you’re planning to buy a new car shortly, apart from the upfront cost of bringing home the vehicle of your choice, you might also be thinking if it would fetch a reasonable resale value should you feel the need for an upgrade or exchange. From the moment you drive out of the showroom with your brand new car, it depreciates by a significant amount.
But MG Motor India seems to have got this right. Two of their customers exchanged their old MG cars for new MG cars. Both got a resale value that is unmatched as per industry standard. The vehicle in question here is the MG Hector SUV. The MG Hector seems to be quite a value for money proposition in a segment full of products from more established brands in India.
Existing customers got a resale value of 95% or more while upgrading. This is also backed by the invoices shared below.
Old Hector to 2021 Hector facelift:
One owner of the MG Hector upgraded to bring home the 2021 Hector facelift. In this case, the customer received an exchange price of INR 17,00,000/- for his old Hector. This was for a one-year-old SUV. Usually, the depreciation would have been in the tune of 25-30% or higher, depending on the car’s condition. But getting 96% resale value in this segment is unheard-of.
Both cars the customer bought were in the top Sharp variant. The resale value, in this case, was pretty close to the actual buying price for Hector from one year ago. This definitely could attract many buyers towards the MG brand because, in the end, money matters. So, in this case, the customer had to pay a net value of INR 1,69,061 to bring home his new exchanged vehicle.
Old Hector to 2021 Hector Plus:
Another owner of the MG Hector SUV opted to bring home a new 2021 Hector Plus 6-seater configuration. The customer stuck to the petrol DCT configuration during this exchange and got a return of INR 15,60,000 for his old car. This was 95% residual value for the customers’ one-year-old vehicle. This helped him upgrade to a top trim for his new Hector Plus from the mid-variant of his old car.
Even in this case, the resale value that the customer received was more than the amount paid while purchasing the vehicle at the time of launch here in India. So in numbers, this particular customer upgraded from an old Hector to the new Hector Plus by paying MG Motor India a net value of INR 4,90,179.
When spending over a million rupees on a car here in India, it should be comforting for potential customers to note that their investment isn’t losing value quickly. When cars evolve and improve with each passing year by a vast margin, customers are tempted to buy something new sooner than they might have planned. And if your old car resale value allows you to make that decision, won’t you be a happy automobile enthusiast?
Apart from the resale value, it also comes down to the fact that MG Motor India is offering customers the most extensive list of features in an SUV at this price. While competition does have a few tricks up its sleeve, the Hector & Hector Plus indeed have the wow factor, which is driving first-time buyers to the showroom as well. MG Motor India also has a fantastic showroom ambience that justifies spending big bucks, unlike the competition, where the showrooms don’t necessarily have any modern-day premium touch.
MG Hector Features
MG Motor India sells the Hector in a 5-seater configuration, while customers can also drive home in the Hector Plus with 6-seater & 7-seater layout. From day 1, the highlight of the Hector range has been the i-Smart touchscreen infotainment which comes with voice commands, remote operation of the vehicle, connected car tech, wi-fi connectivity, inbuilt Gaana app, weather updates, preloaded content, emergency calls, OTA updates, etc.
For safety, the Hector range comes equipped with up to 6 airbags, ABS, EBD, BA, ESP, TCS, rear disc brakes, front & rear parking sensors, 360-degree camera, electric park brake, TPMS, ISOFIX, 3-point seatbelts for all passengers, heated ORVMs and more. After looking at the Hector & Hector Plus brochure, it would be hard to find value in competing SUVs.
For those who are seriously considering buying one, the price list is attached below: