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Lease Fiat 500 for a fiver a day

A groundbreaking leasing deal is making Fiat’s new 500 model available for just £5 a day.

Fiat Group Automobile UK is hoping its latest personal contract hire plan will prove to be “a big talking point” as the Italian supermini rolls into British showrooms.

“People don’t usually make conversation about this aspect of motoring, but the daily rate of 500 pence is so unusual that we think it will create a lot of interest,” marketing director Elena Bernardelli told AM.

The £5 daily rate will apply for two years, irrespective of which version of the 500, which costs from £7,900 to £10,700, is chosen.

“After that, the rate changes, depending on the version and, after five years, the car comes back to us.

“The contract figure does not include maintenance, but we think a monthly outlay of only £152.08 is reasonable for a brand new car with a three-year warranty and 12 months’ AA roadside assistance,” Bernardelli said.

She also revealed that Fiat’s UK arm is studying plans for servicing packs to make the offer even more attractive to motorists seeking affordable city transport with emissions low enough to escape the London congestion charge.

“However, low initial pricing and predicted good residual values mean we can also offer a PCP from little more than £150 a month – and then you get to keep the car,” she said.

In Italy, Fiat Group Automobiles Financial Services is offering any version of the 500 for E5 – around £3.70 – per day with no down payment, along with a five-year, 312,000-mile manufacturer’s warranty.

It is also providing home collection for servicing and re-imbursing taxi fares when the car is collected.

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