Your Definitive Guide to the new MG4 EV Urban Electric Car Lease

The new MG4 EV Urban Electric Car Lease-Your Definitive Guide

Cheap and affordable electric car options are now a key driver in the UK’s car industry. The British public are now being made aware of some crucial factors behind the movement including cheaper fuel costs (especially for those with a home charge point and overnight tariffs), lower servicing and maintenance costs plus the added joy of having the BEV experience.

What is often over-looked is that the car actually drives quite proficiently with even the lower-costing options able to offer a very pleasant experience. This is why so many UK EV leasing customers are becoming brand agnostic; there is a reality that you don’t have to pay that much to have a great car! On the topic of payments, there is something which often arises during the early stages of a lease negotiation.

Contract hire, or leasing, is now the way to use a new or used electric car. With no risk of depreciation or ownership concerns, this method is a great way to use an electric car for 2 - 4 years and return / replace it for a newer model. While moderately flexible, one of the first queries our team faces is on the notion of deposits.

This is a historic aspect from the days of Hire Purchase and Personal Contract Purchase, where competitive monthly priced deals were advertised by dealerships and brokers but with large upfront payments and deposits.

To some extent, this did transfer to contract hire but with this not being an ownership product, and interest rates being much less prevalent, many business and personal customers became more acclimated to small upfront commitments. In some cases, there is a request for a “no-deposit EV lease”.

In our industry, we actually call the payments the rentals. Part of this is to enforce that this is not an ownership product and you will never own the vehicle. The same goes for the deposit, which is called the Initial Rental in leasing. As the total cost of the leasing package is the same / similar regardless of your initial rental, this does mean that many customers do ask about utilising this on their next new or used leasing contract.

In essence, once you provide the vehicle, mileage and term, the system can calculate a total cost and you (or the business) can agree on a payment profile which suits your needs and requirements.

No initial rental arrangements are common with company car and business fleets, as there needs to be a monthly rental price parity. We have also found many PCH drivers are now focused on keeping cash in their bank account or investments, rather than making big upfront commitments in order to make the monthly rental affordable.

In essence, if you have to make a big payment at the outset to make the rental affordable, the vehicle may not be suitable for you anyway. You have to consider that in 2 - 4 years, you would need to make another big payment on the next car. So while the no initial rental / no deposit leasing deal is available on the EV, you just have a couple of points to consider.

For a PCH customer (consumer), ensure you have understood your credit profile first. As you are making no upfront commitments, the finance companies we work alongside will expect you to have good credit and demonstrate affordability. Use Experian to review what finance companies and lenders see about you.

Additionally, ensure you are comparing no-deposit EV lease deals on a like for like basis. For example, do not go onto a price comparison website like LeaseLoco and search without refining your results to the same no upfront commitment. You may think the proposed lease is expensive otherwise.

For BCH (business and company leasing) ensure that your accounts are up to date at Companies House and demonstrate a good financial situation for the finance companies. Again, without an upfront commitment they may look into the company and the directors at a higher level.

This means the senior officers will also need to have a good credit profile too, especially if the lender asks for a director’s guarantee to support the no-deposit arrangement. In any case, speak to our team if you have any credit concerns.

EV’s, such as the new MG4 EV Urban are almost certainly going to bring about queries on the leasing arrangements. The latest innovation from the SAIC brings a cost-effective and affordable proposition for the UK’s electric car market.

However, even though this is a sub -£30,000 vehicle, this still offers technology, range and authenticity which many other cheaper models cannot replicate. This is a great small car addition to the fleet or for a UK consumer on a more restricted budget.

So what options are there on the MG4 Urban?

As at February 2026 leasing customers can choose between:

• Comfort Standard Range – from £23,495 this includes 16” alloys, 12.8” HD screen, reversing camera, adaptive cruise, hill start assist, rear parking sensor, Blind spot detection, navigation, climate control, alarm and keyless entry ;
•  Comfort Long Range – from £26,040 this improves your battery configuration; and
•  Premium Long Range – from £28,540 this adds 17” alloys, heated front seats, heated steering wheel, electric driver’s seat, wireless phone charging and the 60 degree camera.

But how does the new MG4 Urban perform?

At launch 3 battery options will feature including:

•  Comfort Standard Range – this FWD small EV will have a 41.9 kWh usable battery which will offer 0 – 62 times of 9.5 seconds, 99 mph top speeds and 110kW (or 148hp). Expect a cold weather range of around 135 miles with warmer weather allowing for 185 miles – a combined range of around 160 miles on a full charge. On charging, the 11 kW AC max will allow 4 hours and 30 min 0 – 100% charging times with the 82 kW DC maximum allowing 28 minute 10 – 80% times. This has a fuel equivalent of 155mpg. A cargo volume of 577L is available with this car. The car can tow 500kg (Braked and Unbraked). This will have Bidirectional charging capabilities via the V2L. The heat pump is standard;   

•  Comfort Long Range – this FWD small EV will have a 52.8 kWh usable battery which will offer 0 – 62 times of 9.5 seconds, 99 mph top speeds and 118kW (or 158hp). Expect a cold weather range of around 170 miles with warmer weather allowing for 230 miles – a combined range of around 200 miles on a full charge. On charging, the 11 kW AC max will allow 5 hours and 45 min 0 – 100% charging times with the 87 kW DC maximum allowing 31 minute 10 – 80% times. This has a fuel equivalent of 153mpg. A cargo volume of 577L is available with this car. The car can tow 500kg (Braked and Unbraked). This will have Bidirectional charging capabilities via the V2L. The heat pump is standard; and
•  Premium Long Range – this FWD small EV will have a 52.8 kWh usable battery which will offer 0 – 62 times of 9.5 seconds, 99 mph top speeds and 118kW (or 158hp). Expect a cold weather range of around 170 miles with warmer weather allowing for 230 miles – a combined range of around 200 miles on a full charge. On charging, the 11 kW AC max will allow 5 hours and 45 min 0 – 100% charging times with the 87 kW DC maximum allowing 31 minute 10 – 80% times. This has a fuel equivalent of 153mpg. A cargo volume of 568L is available with this car. The car can tow 500kg (Braked and Unbraked). This will have Bidirectional charging capabilities via the V2L. The heat pump is standard.

Want to know more about going into an affordable EV like the MG Urban?

Head to our dedicated MG4 EV Urban special offers section or speak to our experts directly on 01942 910 001 or by emailing us at [email protected]