The Italian firm's iconic 500, soon to be relaunched in Britain 50 years after the original, may be made available for as little as £3.50 a day. Fiat UK officials are looking into the possibility of offering an equivalent version of the parent company's innovative '500 cents' programme which allows customers to buy any version of the car with no down payment and a daily fee of just €5.

“We can't say for sure that it will happen because there are so many technical and legal hurdles to be overcome - but that's not to say that it can't be done,” a Fiat spokesman told Motor Trader. “We are keen to address these issues and take up an idea that has been pioneered by our Lancia brand in Italy with great success.” As part of the plan being administered by Fiat Group Automobiles Financial Services, the 500 is being backed by a five year, 312,000-mile manufacturer's warranty.

The first to be offered by Fiat, the terms of the warranty provides home collection for servicing and reimburses taxi fares when the car is collected. “The company wants the warranty to be offered on a pan-European basis, so we are also investigating the implications of this for the UK market,” said the spokesman. “The point is that 500 is the start of a fresh era for Fiat. It has the best build quality of any group product and we're keen to demonstrate our total confidence in the car.” Due in UK showrooms in January, the model has a choice of 1.2 and 1.4-litre petrol engines and a 1.3-litre diesel motor and is expected to cost from £9,500.