Fiat 500e: running costs & insurance

It doesn’t matter if you’re a private buyer or a company-car driver: few models will be as cheap to run as the electric Fiat 500e, even though it's not as cheap to buy outright as it once was.

Those who can choose a 500e on their company-car scheme could save thousands of pounds in Benefit-in-Kind (BiK) company-car tax versus a comparable petrol supermini, while the ability to charge up at home overnight will see your fuel bills plummet.

If you’re a private buyer, you’ll be happy to hear that Fiat is currently offering a £3,000 ‘E-Grant’ on all new 500e models, which takes a considerable chunk off the car’s asking price. This is especially useful given the government’s plug-in car grant was discontinued in 2022, which in-turn made buying a new EV considerably more expensive.

Fiat 500e insurance group

Depending on which trim and battery configuration you go for, insurance groups for the Fiat 500e range from 16 to 18. The fabric-roofed Cabrio, meanwhile, is in groups 19 to 21. In comparison, the Honda e – another style-conscious, city-focused electric car – lands in the much higher 25-29 insurance groups.

Warranty

The Fiat 500e, like most models in the manufacturer’s range, comes with a three-year/unlimited-mileage warranty. This is par for the course in this area of the market; it's matched by both the Honda e and MINI Electric's guarantees. Fiat also covers the 500e’s battery for eight years or 100,000 miles, whichever comes sooner.

Servicing

If you buy a Fiat 500e, the manufacturer recommends it'll need servicing every 9,000 miles or 12 months, whichever comes soonest. Given this is primarily designed as a city car, this won't be an issue for most buyers, though if you cover higher mileage, the relatively short intervals may prove frustrating. Still, with fewer moving parts than its petrol equivalent, we don't expect maintenance to be too troublesome.

Road tax

As an electric car, the Fiat 500e is zero-rated for vehicle excise duty (VED, commonly known as road tax) until 2025 and will escape the London Congestion Charge (as well as ULEZ charges) until 2025, too. As noted above, its zero-emissions status makes it an incredibly affordable company car as well.

Depreciation

According to the latest industry data, the Fiat 500e is projected to retain roughly 32-34% of its initial value over three years and 36,000 miles, which is not what you want to hear when you’re spending upwards of £30k on a city runaround. The convertible 500Ce should fare slightly better in this regard, although a MINI Electric is a sounder buy if you’re looking for a car that holds onto its value. Regardless, heavy depreciation makes the electric 500 a steal on the second-hand market.