Big promotion on the electric Fiat 500 for less than €10,000, but there's a trick to be aware of

At a time when the Mirafiori plant in Turin is experiencing difficulties due to a drop in orders for the electric Fiat 500, the Italian automaker is trying to revive interest in its trendy little city car. Pending the imminent arrival of a hybrid version, Fiat proposes a shock offer in Italy: a 500e for less than €10,000! But behind this rock-bottom price lie some very strict conditions.

A 500e for less... but only in Italy

The basic price of the Fiat 500 electric Pop is €23,900 (excluding ancillary costs). Thanks to a combination of manufacturer's discounts and government aid, the price comes down to :

• 10,900 without financing,
• 9,950 if you take out Stellantis financing.

The calculation is simple: Fiat applies a €2,000 discount, plus up to €11,000 in Italian ecological bonuses. With financing, Fiat adds a further €950 discount. Result: a 500e under the symbolic €10,000 mark.

Very specific conditions

To obtain the maximum bonus of €11,000, several criteria must be met:

• Household income (ISEE) must be less than €30,000.
• A reduced premium of €9,000 applies if the ISEE is between €30,000 and €40,000.
• You have to scrap a Euro 5 or older vehicle, registered for at least 6 months in the name of the customer or a member of the household.
• Finally, the car must be kept for a minimum of 24 months.

These bonuses are awarded within the limits of available public funds, and only in Italy.

The financing "trap

While Stellantis financing can bring the advertised price down to €9,950, the reality is more nuanced. If you take into account the application fees, interest and the large final monthly payment, the total cost of credit climbs to €12,645.52. In other words, the offer is only attractive to those who can pay cash and meet all the conditions for maximum subsidies. Otherwise, you can always take out a loan elsewhere than with Stellantis to get the electric Fiat 500 for €10,900, which is an excellent price.