Fiat has launched a smart new leasing scheme that charges you for the miles you cover.
The new ‘Pay As You Go’ scheme is available from Fiat’s sister firm Leasys, and is a first for the UK that charges drivers based on the exact number of miles they cover.
Whereas usual finance and leasing agreements make you specify how many miles you will cover, and charge you for any excess, this new Fiat scheme uses black box technology to charge you only for the miles you cover.
For the time being, the scheme is just available on Fiat’s efficient new 500 Mild Hybrid model, and enables a flexible leasing solution.
Leasys Miles is set up with one upfront payment of £99, and after this you’ll make a set payment of £99 for the next 47 months. Following this, you’ll be charged per month on how many miles you’ve covered, via the telematics box. This will be charged at 19.2p per mile.
Fiat says it means that the average commuter, who is said to cover approximately 25 miles per day, could pay just £10.29 per day for their car, including the monthly payment and fuel.
The firm is also giving you the first 500 miles at no extra cost, while there are no limits on the mileage you can cover.
Francesco Vanni, UK country manager for Fiat and Abarth, said: “By providing this innovative solution to our customers, Fiat is leading the way in Pay As You Go driving. Customers need only pay for what they drive with no upper mileage limit, making it an attractive proposition for those now in need of a stylish, economical and reliable car to commute in.”
Fiat is expecting this new way of leasing to be popular and is hoping to launch it on further models in the future.
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