Fiat 500 is not only cute, but a good long-term deal
When Fiat unveiled the revamped 500 almost a year ago, the company said it hoped the car would be considered the "iPod of cars." There's one aspect of the iPod, though, that Fiat is probably glad they aren't associated with: the products disposability. I mean, really, does Apple need to release a new version every other month?
Lucky for Fiat, "residual experts" say that the 500 will hold onto more of its value in three years than previously expected. Sure, the vehicle will still be worth less than half of what you paid for it today, but the experts say the value will be 46 percent of the original list price instead of the previously expected 42 percent. All the reasons for the change in prediction were not given, but one is that this is a stylish car that's also pretty clean. Fiat's announcement, pasted after the jump, says that small- and medium-sized companies like the 500 since "it offers drivers a high profile company car that is low on fuel use and CO2 emissions." Sound like a better deal than having a dead iPod in 36 months.
Gallery: New Fiat 500
[Source: Fiat]
PRESS RELEASE:
FIAT 500 IS GOOD BET FOR THE FUTURE SAY RESIDUAL VALUE EXPERTS
Specialists who calculate future used car prices for the motor trade have upgraded their predictions on what they reckon the new Fiat 500 supermini will be worth in three years' time.
Residual values on some 500 models have increased from 42 per cent to 46 per cent of original list price. That's an uplift of more than £350 on the car's value on a typical three year/30,000 mile contract. For buyers funding the car through contract hire or personal contract purchase (PCP) that should reduce rentals by more than £20 per month.
The residual value guides rate the entry level 500 1.2 Pop as having the best residual value at 47 per cent after three years.
"The residual value guides have reacted positively to the success of the 500 and have increased their used predictions accordingly. This is good news for those who have already bought one and it should help reduce monthly costs," says Adam Pumfrey, fleet and remarketing director, Fiat Group Automobiles UK.
"The 500 has also generated a great deal of interest from small and medium sized companies for test drives as it offers drivers a high profile company car that is low on fuel use and CO2 emissions."
Reader Comments (Page 1 of 1)
why not the LS2LS7? 12:37PM (6/26/2008)
No one is forcing you to buy a new iPod.
Are you writing these articles on a computer that's over 3 years old?
If you buy a flash-based iPod, you can count on it lasting a lot more than 3 years. The hard drive ones not so much.
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Karl-Uwe Strunzen 1:24PM (6/26/2008)
considering the waiting list to get one of these this is hardly a surprise...
any news on a CNG version of the 500? It's been confirmed the Grande Punto CNG will be out soon and I know the 500 uses the same base as the Panda which has been selling with a CNG model for quite some time....
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phil easler 2:00PM (6/26/2008)
It would be nice to have one in the USA.
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s10 7:30PM (6/26/2008)
Apple does not release a new model every 3 months, once a year maybe.
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Davsot 12:39AM (6/27/2008)
What does ABG have against Apple? They probably keep reading those Greenpeace reports. No one forces you to buy a new iPod and I still have a working 1rst-gen iPod. If you want me to go all green on you, I'll add there's recycling porgrams and Apple sells refurbished iPods, too.
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T2 7:31AM (6/27/2008)
Oil just hit $141 (on Asian electronic trading) and traders say investors are flocking to oil as a hedge against inflation. Now they are predicting $150-$170 by this summer.
The Fiat 500 will come with the new SGE twin cylinder 900cc next year, can you imagine the mileage from that ? When gas hits $7 in around two years my 1.5L Echo is going to seem positively profligate. I have to laugh when I hear folks who could be riding around in those 3.5L V6 sedans saying they are contemplating public transport for their commute. As if the next step down from a 'safer' large vehicle with its 345 class leading horsepower is shanks pony. When you're frozen in the dark at a bus stop in -10deg winds or in summer being attacked by mosquitos with no shelter those affordable 500's are going to look like Rolls Royces !
T2
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