Hi All,

I just purchased a Fiat 500 Lounge. First off, I just want to know how good of a deal did a manage. Basically, I got the lounge for the price of the Pop, £9960 with a total savings of £1750 off the sticker. I had a couple of other minor bits and I was giving a free supaguard treatment. I do think I got stung a little bit on the finance (7.6% APR). In the end, I had to make only £160 deposit, £160 x 46 payments and a final payment of £3786. So the true price works out to be £11,466.

My second question is what I can I expect in depreciation over Year 1, 2 and 3? I saw somewhere that the 500 hold their value and I am trying to decide on how long I should plan on keeping it. I am slightly keen because I am sitting on a Employee Discount Voucher, but it appears not to have a time limit on it.

was this a brand new car ordered specifically for you and ready for collection in a couple of months or one they already had on the forecourt ?

They had to order it, but it was not straight from the factory. That was the big issue. What I wanted was a factory order and they wanted to sell a car now. I really wanted leather seats.

What I am really hoping for is that I got a big enough discount that I won't loose too much money in the first year, which I can trade the car in and order one with leather seats.

if you're not happy with what you've ordered then remember you have that 14 day cooling off period, go back and hold off for what you actually want.

AndyRKett said:

if you're not happy with what you've ordered then remember you have that 14 day cooling off period, go back and hold off for what you actually want.

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:yeahthat:

Sounds like you've let them gode you into buying a car you don't want...

Given your figures i make the total amount payable at £11,306

160 deposit + 46x160 + final payment of 3786

seems strange is should be 46 monthly payments usually you go to 3 (36) or 4 (48) year repayment plan.

year old Fiat 500 Lounge can be anything from £8,000 so you could expect to lose as much as £2,000 dealer trade in will cost you a lot more (you may only get £6,500-7,000, maybe even less) then you'll still have £9,386 in finance to settle and that assuming there is no early repayment penalty. so you'll need to find another £1,386 out of your own pocket. and you will have already paid £1920 in repayments for the year so

£1920 repayments (most of which will be interest)
£2000 in depreciation
£1386 to settle the finance

you're now a year down the road you don't have the car you want (or indeed a car) and you are effectively £5k out of pocket. obviously this depends on the terms and conditions of the finance you might be able to make early repayments without penalty, or the interest is cut when the term is shortened. but its a good illustration as to why finance isn't always a good deal.

14 day cooling off period get the car you actually want and let the finance run its course