JSW MG Motor India has announced an assured buy back program of its electric vehicles, up from the existing three years to up to five years now. New and existing owners of MG electric vehicles can get an assured value of 40-60 percent of the value of the vehicle. The buy back program now also covers MG EVs which have been inducted in commercial fleets. The program aims to extend confidence to the users by guaranteeing a fixed resale value at the end of the specified period of usage.
Depending on the plan the user selects, MG EV owners get a guaranteed resale value after three, four or five years of use. The program builds itself over MG’s existing offer, which guaranteed 60 percent of the value of the vehicle after three years of ownership and operates independently of any loan or finance scheme. This also includes commercial MG ZS EV owners who are eligible for resale value benefits for vehicles which are three years old or have an annual mileage of up to 60,000 km.
The buy back program brings in other advantages for the owners, the first one being its independence from any loan or finance scheme. Secondly, it helps reduce the depreciation risk and gives the user the flexibility of retaining, returning or upgrading, ensuring the user peace of mind in the long run. The move also aims to facilitate easy EV adoption in the country with assured ease of ownership.
