Cost of living in Funchal, Madeira (Portugal) is 16% cheaper than in Vicenza (Italy)

This comparison is lacking data. It provides a decent comparison, but it is not yet reliable. It is based on 30 prices entered by 9 different people.
For example, to keep the same standard of living that would require €2,700 in Vicenza you would need to make just about €2,267 in Funchal, Madeira.

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Volkswagen Golf 1.4 TSI 150 CV (or equivalent), with no extras, new

in Vicenza?

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