As if this deal wasn't good enough already, your 11 grand Barchetta has also enjoyed a light facelift. The most noticeable change is at the front, where the previously pointy nose has been bluffed into something more aggressive, complete with judicious use of Audi-surplus mesh. From head-on it looks great, although in profile the already jutting overhang has become an unfortunate full Coulthard. At the back there's the new-style Fiat badge and that's it. The third brake light that crept onto the bootlid a while back remains, saddling the Barchetta's pert bum with something strangely reminiscent of a rhino that's had its horn sawn off. The only other cosmetic change is some tacky 16in alloys which, thankfully, are an option. Steel rims are standard.

The interior is pretty much as before - smart body-coloured panels, neat, well-made dash, passenger airbag now standard. And the mechanical bits remain a winning combo of sparky 1.8-litre four-cylinder engine driving the front wheels, with a McPherson strut front/trailing arm rear chassis, derived from the old Punto.

Now, given the bargain price and the fact that the entire cost of this facelift must have been less than Fiat management's monthly budget for board meeting biscuits, there was no question of serious re-engineering and the Barchetta remains left-hand drive only. There are two schools of thought on this: either it's a right royal pain that will one day see you frustratedly reversing around the McDonald's Drive Thru. Or, given the dolce vita looks, having the wheel on the wrong side just adds to the Barchetta's exotic appeal. Consider it this way; the little Fiat is narrow enough to minimise ticket barrier aggravation and, by my calculations, its inherent glamour makes it 284 per cent groovier than the MX-5 and MG TF put together.

But in the time since the Fiat appeared back in 1995, Mazda and MG have given their roadsters comprehensive revamps; the Barchetta has a new front bumper. Its years show up in little ways - how many cars still use clunky analogue odometers? - though that doesn't mean it's lost its silky skills. For starters there's that lusty, variable-valve-timed engine; it loves revs and pulls keenly up to the 7000rpm red line. Then there's one of the best gearshifts Fiat has ever made - chunky, precise, just an occasional annoying baulk from second to third reminding you it's related to the dismal shift of the last Punto.

Like its gearchange, the Barchetta's handling has always been infinitely superior to that of the hatch on which it's based. The suspension is surprisingly soft so you get a bit of roll in bends (no bad thing), and the pliancy gives it a real advantage on the crusty surfaces that would make an MG TF buck and bounce. Add in lashings of front end grip, and a neat nose-in/tail- out throttle-lift shift that cancels out the eventual understeer, and you've got a whole antipasti of amusement.

Yes, if you're a stickler for power oversteer you'll still go for the MX-5 but ask yourself what's going to put more of a smile on your face; the occasional arse-out moment, or finding other ways to spend the four grand you saved by buying the gigglesome Barchetta? And whilst the familiar ΂£15K MX-5 pops off a production line by the ship-load, remember that the 11-grand Barchetta is essentially handmade and extremely rare. Rather too rare, as it turns out, because having announced the new bargain-priced Barchetta across Europe, Fiat has been caught out by demand and the UK won't see another batch arrive until the end of the year. But when you get this much pleasure for ΂£10,995 surely you can afford to wait.