Fiat 500 Finance Comparison Online
Cheap Fiat 500 Finance Options
- Competitive PCP & Hire Purchase quotes from over 20 lenders
- Get the best available rates on cars from £15,000 – £250,000
- Use a Trustpilot 5-Star rated team with expert knowledge
- Rates start from 8.9% APR with a representative APR of 8.9%*
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Fiat 500 Finance
Compare Fiat 500 finance options from across the UK market fast
That’s why Quotezone.co.uk has teamed up with Magnitude Finance, to take all the hassle out of finding the right finance deal for your new Fiat. Who are Magnitude Finance? They are a UK business that has been helping people get the cars of their dreams for over 30 years and have arranged over £500 million of loans each year. No matter what deal you are searching for, we are here to help you with your car finance comparison.
How much is Fiat 500 finance per month?
The cost of financing a Fiat 500 depends on many differing factors, for example the age and condition of the vehicle, the individual lender as well as factors relating to the borrower themselves. For example the Fiat 500 may be a true and tested design with the more classic models still holding their worth, however newer models a generally more expensive and so financing them will also be more costly. Here are the common factors which will affect the total cost of your financing plan.
- Credit score – If you have a credit score that is too low you may ultimately be rejected from getting finance. As a general rule, the lower your credit score the more risky lenders will view your application. As a result of this you can expect to pay more in interest as lenders try and cover the risk of your lower credit score. Alternatively if you have a higher credit score you’ll be able to secure cheaper interest rates as you’ll be viewed as less risky to lend to.
- Loan term – The length of your loan term will impact how much you ultimately pay on Fiat finance as longer terms typically have higher interest rates.
- Down payment – By paying a larger down payment you reduce the amount you need to borrow which also reduces the total amount you pay on interest.
- Lender – Each lender will offer their own interest rates for financing a Fiat, some lenders will run deals and promotions on their finance offerings so you should always compare multiple lenders to find the best Fiat finance.
- Economic situation – Interest rates fluctuate with the economy and lenders will make adjustments to their offerings and products dependent on the base interest rate. Because of this the timing of when you decide to finance a Fiat is something you’ll need to consider.
- The Fiat itself – The age, model and overall condition of your car will be a big factor in how much you pay for your Fiat finance. Older cars typically have lower interest charges whilst newer more expensive models tend to have higher rates.
The type of car finance you decide to take out for your Fiat 500 is also another key factor in how much you’ll pay. If you choose a finance plan involving monthly repayments then the above factors will largely determine how much you end up paying per month, so always do your research when making a decision and compare multiple lenders.
How can I finance a Fiat 500?
There are several types of car finance options available in the UK for financing a Fiat 500, which one is best for you will really depend on what works best for you.
Here are the common finance options that you can choose from:
- Hire Purchase (HP) – With hire purchase you’ll make regular payments over a typical fixed period of 1 to 5 years or 12 to 60 months. With this finance option, the owner of the Fiat will be the financer until such time as the final payment is made and ownership is transferred to the borrower. Therefore if you miss payments, you could lose the car.
- Personal Contract Purchase (PCP) – This popular method of finance involves you making regular repayments over a fixed period of time but instead of buying the Fiat you are essentially renting it. You will have the option to purchase the Fiat for the remaining amount after the end of the fixed period or simply return it to the lender.
- Personal Loans – This type of finance involves you borrowing a lump sum of cash for the purchase of a car and then you will make regular payments over the fixed term until the loan is repaid.
- Lease – A lease works in a similar way to PCP where you essentially rent a car for a fixed period of time whilst making regular payments. After the end of the lease you’ll return the car to the financer.
The best thing to do is to compare multiple lenders in order to ensure you get best finance deal for your Fiat 500 finance.
How can I get cheap Fiat 500 finance?
Getting cheaper Fiat 500 finance can be done through taking various practical steps.
- Put down a larger down payment – Whilst 10% is the standard down payment for many financing options, electing to pay a higher amount such as 20% will reduce the total amount you need to borrow for your Fiat. This will reduce the total amount you end up paying on interest in the long run.
- Always hunt around for the best rates – This may seem obvious but many borrowers forget to do it, meaning they run the risk of missing out on great deals.
- Consider a shorter term loan – Generally speaking the longer your term the greater the amount of interest you’ll end up paying over time. To reduce the amount of time you spend paying interest, opting for a shorter term loan is a good option.
- Improve and maintain your credit score – This will take time however having a good credit score and maintaining it will help you save money in the long run on your finance options.