Three days following the British Government's Plug-In Car Grant (PICG) going live, offering twenty five percent of the worth of a sub-seventy five g/km car up to a maximum amount of five thousand pounds Mitsubishi has announced an array of payment plans for its all-electric i-MiEV, one of the cars that qualifies for the scheme.

The examples Mitsubishi comes up with require making monthly payments of three hundred and ninety nine pounds. One of them is a Contract Hire package, in which one simply pays that amount forty eight times and another is called the Balloon Personal Loan, in which one requires to deposit four thousand six hundred and thirty five pounds and make forty seven monthly payments of three hundred and ninety nine pounds.

After that the final payment of six thousand four hundred and fifty nine pounds is to be made. Under The Finance Mitsubishi Personal Loan one has to pay a deposit of five thousand five hundred and ninety six pounds and subsequent payments of three hundred and ninety nine pounds for sixty months.

The second and third plans of these are the ones which can lead one for owning the car outright after the payment period gets over. The overall financial results are quite similar, as one will have paid twenty nine thousand eight hundred and forty seven pounds and twenty nine thousand five hundred and thirty six pounds respectively.

The Balloon Personal Loan makes one pay up over a shorter period, but on the other hand one gets the car one year newer, which has more resale value.

If one buys the i-MiEV outright which is not a very likely option as per the opinion of most observers it will cost twenty three thousand and nine hundred and ninety pounds after receiving the Plug-In Car Grant, along with the fifty five pounds worth First Registration Fee to run it on the road.