Easterns Blog

When it comes to buying a car, it’s important to be aware of the comprehensive expenses that accompany it to determine if it is the right choice for you.

The Fiat 500 is a vehicle of style, character and compact efficiency. Its chic exterior design, which exudes a classic Italian flair, coupled with a cozy interior, makes it a popular choice among city drivers. Despite its small stature, the Fiat 500 boasts surprising functionality and an engaging driving experience, making it ideal for navigating the bustling streets of Baltimore and Washington D.C. with ease.

Initial Investment in the Fiat 500

The last model year of the Fiat 500, 2019, had an MSRP between $16,500 and about $21,000. If you can find a Fiat 500 today, you’ll likely only pay about $12,500 for a base trim. Older models, like 2016, 2017 or 2018, you can likely find it for less than $10,000.

Depreciation

As with any vehicle, depreciation plays a pivotal role in the total cost of ownership. The Fiat 500 is actually useful for demonstrating the power of depreciation. The average 2019 Fiat 500 in decent condition costs about $12,500 as of 2024, which equates to a roughly 24 percent drop in value over five years. This is actually lower than the typical depreciation of about 35 to 40 percent over five years. This is partially due to the already low cost of a new Fiat 500, although the fact that no more are being made and the inherent scarcity of the model may also play a role.

Insurance

Insurance costs for the Fiat 500 may vary, but on average, annual insurance premiums for a Fiat 500 range from $800 to $1,500. These rates are slightly lower than some other vehicles because of the low cost of the Fiat 500. Replacing a Fiat 500 that’s totaled with a car of comparable value is affordable for the insurance company, so they’re willing to accept lower premium payments from drivers – especially those with a good driving record.

Maintenance

Maintaining the performance and longevity of your Fiat 500 entails regular upkeep and occasional repairs. While routine maintenance costs are relatively affordable, occasional repairs may incur additional expenses, necessitating budgetary consideration. As an import, maintenance and repair costs on a Fiat 500 can be slightly higher. Imported parts may be necessary, and you might need to take your Fiat 500 to a shop that has specialized knowledge or tools to address problems or perform routine maintenance.

Maintenance for Your Fiat 500: Ensuring Optimal Performance and Longevity

Maintaining the performance and longevity of your Fiat 500 is essential to provide a smooth and enjoyable driving experience for years to come. While routine maintenance costs are generally affordable, occasional repair needs may arise. Common routine repairs and maintenance for the Fiat 500 include:

• Oil Changes: Regular oil changes are crucial to keep the engine lubricated and running smoothly. Aim to change the oil every 5,000 to 7,500 miles, or as recommended by Fiat.
• Tire Rotations: Rotating your tires regularly helps promote even tread wear and extends the lifespan of your tires. Rotating your tires every 6,000 to 8,000 miles can ensure you maximize their longevity.
• Brake Inspections: Routine brake inspections are vital to ensure the safety and reliability of your Fiat 500. Brake pads and rotors may need to be replaced periodically, although the frequency will depend on your driving habits.
• Fluid Checks: Regularly checking and topping up fluids such as coolant, brake fluid and windshield washer fluid can help maintain optimal performance and prevent potential issues.

Why Buy a Pre-Owned Fiat 500 at Easterns Automotive?

The most obvious reason to buy a pre-owned Fiat 500 is simply that you can’t buy a new Fiat 500. The last model year was 2019, which means if you find a Fiat 500 on the market you will inevitably be buying it used.

Buying a used Fiat 500 is not a bad thing. Pre-owned models offer considerable cost savings, reduced depreciation rates and lower insurance premiums. At Easterns Automotive, we offer an extensive selection of high-quality pre-owned vehicles, each backed by our commitment to quality and customer satisfaction. Plus, customers benefit from our exclusive seven-day return policy and a 30-day/1,000-mile warranty, for a stress-free and confident purchasing experience.

Embark on Your Next Journey By Purchasing Your Dream Vehicle Today at Easterns Automotive in Maryland, Virginia and Washington D.C.

Discover the benefits of buying a pre-owned vehicle at Easterns Automotive Group today by browsing our online inventory or giving us a call at (877) 927-5004.