According to Kelly Blue Book, vehicles on its Back-to-School Cars list for 2011 were chosen "with the following criteria in mind: safety, affordability, versatility, reliability, cost of ownership and fuel efficiency, along with the ever-subjective ‘fun-to-drive’ and ‘good-looking’ factors." Each new car on the list has to be available in the U.S. for $18,000 or less, using Kelley Blue Book’s exclusive Fair "Purchase Price" as the yardstick.

In placing the 500 in its top five new cars for Back-to-School, the judges said: "The 2011 Fiat 500 also appeared on this year's list of the 10 Coolest Cars Under $18,000, where it finished at the head of class. Affordable, adorable and easy on the gas, the retro-inspired Fiat 500 is a smart - and surprisingly comfortable - little commuter car that can help ease the transition from a cozy bed to that 7:30 a.m. zero-period elective."

Amongst Kelly Blue Book's top annual back to school picks the 500 was placed fourth out of the five; the remainder of the top five choices were made up of the Chevrolet Cruze in fifth, while the Hyundai Accent, Honda Fit and Ford Focus, took first, second and third places respectively.

Founded in 1926, Kelley Blue Book is the a vehicle valuation and information source used by both consumers and the industry. Each week the company provides the market-reflective values on its website including its Blue Book Trade-In and Retail Values and Fair Purchase Price, which reports what others are paying for new cars this week. The company also provides vehicle pricing and values through various products and services available to car dealers, auto manufacturers, finance and insurance companies as well as governmental agencies. It is a leading provider of new car prices, used car values, car reviews, new cars for sale, used cars for sale, and car dealer locations.