Driving a brand new car at 18 is something many dream about, but few can actually achieve, with insurance costs denting many young drivers’ car budgets. Indeed more than a third of 17 to 25-year-olds find the costs so prohibitive that they don’t own a car at all. Fiat’s latest leasing scheme, however, could give teenage motorists an affordable way into a new car.
For a fixed monthly payment of £239 over a three-year period, those aged 18 and over can drive a brand new Fiat 500 1.2, with maintenance costs and fully comprehensive insurance included. The Fiat 500 i-Deal, as it’s called, is a scheme offered in partnership with insurance company Carrot.
This all inclusive insurance package deal will make the dream of driving a brand new Fiat 500 a reality for many young drivers.
Each car will be fitted with an ‘i-box’ telematics device that tracks how the driver uses the car. To be able to keep the cost down the driver must prove to be responsible on the roads as the insurer can monitor their speed and driving style. Signs of continued irresponsible driving are liable to make the cost of insurance – and the overall monthly car cost – increase. Telematics insurance policies have become increasingly popular as a way to quickly assess inexperienced drivers’ ability behind the wheel and set their premium accordingly.
Talking about the new Fiat scheme Karl Howkins, commercial director for Fiat Chrysler UK, said: “This all inclusive insurance package deal will make the dream of driving a brand new Fiat 500 a reality for many young drivers who would otherwise be forced to drive an older and potentially less reliable and safe vehicle.”