€1/Month for a Fiat Panda

The Italian car maker Fiat launches a promotional lease-purchase option in France: renting a Fiat Panda for €1/month.

Targets: most modest French households eligible to €4,000 “super-bonus” scrappage premiums.
Concerned vehicle: Fiat Panda special series Ligue 1 Conforama, 1.2 L, 69 bhp (fuel)
Offer: €1/month rent for a lease-purchase contract over 37 months or 30,000 km.
No financial contribution is required: State financed scrappage premiums to afford the first increased rent.
After 3 years, the customer may choose to give the car back and would then only have paid €37 to drive a new car during the leasing period. Otherwise, he may opt for the purchase option for €5,890. A typical credit offer is planned by Fiat to help them afford the purchase.
A new Fiat Panda Ligue 1 Conforamacosts €10,490 on average. the

Upholding accessibility. With this new offer, Fiat first stresses their intent to make their vehicles accessible to the largest possible number of people.
Relying on financial support from governments. Fiat mostly aims for 20% most modest French households eligible to the 2019 scrappage premiums, whereby up to €4,000 can be paid: nearly 2 million people likely to be interested in Fiat’s offer.
Attracting new customers with an entry-level offer. This special offer was supposed to last up until March 31st, but Fiat didn’t exclude the idea of maintaining it for a longer period, by way of making the most of this prospecting approach.
With this offer, Fiat also achieves a large-scale marketing ploy relying on the government’s newly implemented scrappage premiums. Fiat bets on an initial rent likely to be worth the entire amount of the grant, or €4,000 paid directly. If the customer is unable to make this payment, FCA Bank may feature cash advances for the car dealer.

13,000 Fiat Panda vehicles were sold in France in 2018 (twice as many as the year before). This increase is fully accounted for by the 2018 scrappage premiums launch.
crappage premiums attracted 300,000 households in 2018 and 60,000 since January 2019.

Category : Alertes quotidiennes