A more richly trimmed and better-appointed version of the standard 500 F named the 500L (or Lusso), was launched in 1968 and remained on sale till 1972. Perhaps the most obvious new feature of the Lusso were tubular guards protecting the front bumper and corners of the rear one making the car about 6cm longer than the previous F model. Other model-specific exterior items were a new Fiat badge at the front, redesigned hubcaps, chrome plastic moulding covering the roof drip rails, and bright trim around the windscreen and rear window. Inside was fitted with a new trapezoid instrument binnacle replacing the round one used on all other 500 models. The steering wheel was black plastic with metal spokes.
The door cards—upholstered in the same pleated pattern leatherette used on the seats—carried redesigned and relocated door handles and new door pockets. More storage space was provided in the form of a tray on the centre tunnel, which like the rest of the floor was covered in carpet rather than rubber mats. Except for radial instead of bias ply tires, from a mechanical standpoint the 500 L was identical to the coeval 500 F.