MG4 EV cost to own in the UK — the true 5-year total
The MG4 EV starts at £29,995. Over 5 years, owning one (EV) costs about £34,207 in the UK as of August 6, 2026 — £570/month, £0.57/mile — including depreciation, charging (with the ~12% charging loss most calculators ignore), maintenance, insurance, financing and VED. That's £205 more than a comparable Volkswagen Golf 1.5 eTSI over the same 5 years.
MG4 EV incentives & grants
UK Electric Car Grant: up to £3,750 off the price of an eligible new EV (RRP ≤ £37,000, applied by the dealer). Shown for reference; not included in the totals above. Source: GOV.UK Electric Car Grant.
MG4 EV · UK · 5-year estimate£34,207 total · £570/mo · £0.57/mi
Where the money goes
| Cost component | Electric · MG4 EV | Hybrid · Volkswagen Golf 1.5 eTSI |
|---|---|---|
| Depreciation (estimated) | £18,597 (54%) | £15,333 (45%) |
| Charging / fuel | £5,253 (15%) | £7,843 (23%) |
| ↳ of which charging loss | 12% (~£630) | — |
| Maintenance | £1,500 (4%) | £1,998 (6%) |
| Insurance | £2,780 (8%) | £2,625 (8%) |
| Financing interest | £5,077 (15%) | £5,203 (15%) |
| Registration & fees | £1,000 (3%) | £1,000 (3%) |
| Total cost of ownership | £34,207 | £34,002 |
MG4 EV specs & assumptions
- Starting price (RRP)
- £29,995manufacturer
- Powertrain
- Electric
- Efficiency
- 22.7 kWh/100miWLTP
- Range
- 280 miWLTP
- UK electricity
- 26.11p/kWhOfgem
- Annual miles (assumed)
- 12,000UK average
Road tax (VED) for EVs 2026
VED on the MG4 EV is £200/yr — the flat standard rate EVs now pay — and it is included in every total on this page. Source: GOV.UK vehicle tax rates.
Cost to charge the MG4 EV at home
The MG4 EV runs about £6.74 per 100 mi at home — versus about £17.42 for a typical 40 mpg petrol car. Home charging only (the ~12% AC charging loss is included); public DC fast-charging is billed per session by each network — often 2–3× the home rate — and isn't in these figures.
- Per 100 mi at home
- £6.7422.7 kWh/100mi + 12% charging loss × £0.26/kWh
- A typical 40 mpg petrol car
- £17.42/100miat £1.53/litre — for comparison
Compare the MG4 EV against any car, your mileage & your scenario
What the numbers say
The MG4 EV costs about £34,207 to own over 5 years in the UK — £570/month, £0.57/mi at 12,000 mi/yr — and depreciation is the biggest line: £18,597, 54% of the total (as of August 6, 2026).
- Call it a tie: £205 apart over 5 years is inside the noise of estimates like these — choose on fit and charging access, not on cost.
- The MG4 EV pulls ahead of the Volkswagen Golf 1.5 eTSI if you drive more than about 13,000 mi/yr.
- Where the MG4 EV's £34,207 actually goes: depreciation £18,597 (54%), charging £5,253 (15%), financing interest £5,077 (15%), insurance £2,780 (8%), maintenance £1,500 (4%), registration & fees £1,000 (3%).
- Per mile, that is £0.31 of depreciation and £0.09 of charging, with £0.17 for everything else — £0.57/mile all-in.
- Charging vs the fleet: the MG4 EV's 5-year charging bill (£5,253) runs £417 below the £5,670 median of the 27 EVs we price at the same rates.
What we assume for maintenance
Assumed £300/yr for an EV at 12,000 mi/yr — about £1,500 of the 5-year total above. On this market's assumptions an EV runs about £150/yr less in maintenance than a petrol car (£300 vs £450). See the methodology for sources; adjustable in the calculator.