AA Cars highlighted that small cars are falling in price on the used vehicle market (Image: Getty)
The approved retail platform has urged Brits to avoid buying a certain type of model new to prevent losing out on thousands.
While the is continuing to grow in popularity, the organisation highlighted that prices for some of the most popular models are falling.
As a result, James Hosking, Director of AA Cars, highlighted that drivers looking to get or can save a fortune by buying used makes and models instead.
He explained: “Although the dip in used car prices might suggest a softening in demand, it creates an excellent opportunity for drivers to purchase their desired vehicles at a lower cost.
“Smaller cars offer the most significant savings, with our research showing substantial price decreases for some of the UK’s most compared with this time last year.”
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Now out of production, the average cost of a used Ford Fiesta fell by £2,200 in 12 months (Image: Getty)
According to the AA Used Car Index, which assessed the average value of used cars sold throughout the third quarter of 2024, the used car falling in value the most is the Ford Fiesta.
A mainstay on the UK roads since its launch in 1976, the Fiesta’s low running costs, easy driving style and attractive looks make it a popular choice for young or short-distance motorists.
However, despite being the second most searched car during the three month period, AA Cars highlighted that the average price on the used market was just £8,942, a drop of more than £2,200 compared to 2023 figures.
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The Fiat 500 also dropped in price on the used car market, with models typically selling for £7,731 (Image: Getty)
AA Cars also highlighted that the Fiat 500 saw a similar drop in value on the used vehicle market, despite being one of the most popular city cars.
During the third quarter of 2024, drivers typically paid £7,731 for a pre-owned example, around £2,000 less than the average model cost 12 months earlier.
Known for its 50s throwback styling, the Fiat 500 was introduced in 2007 and continues to be sold alongside the new 500e electric city car.
However, not all used hatchbacks are falling in value, with AA Cars highlighting that the average Audi A3 is rising in price.
The third most searched used car on the platform during the third quarter of the 2024, the average motorist paid £20,356 for an example, representing an increase of about £400 compared to 2023 figures.
Based on the Volkswagen Golf platform, the latest Audi A3 offers a premium interior with plenty of standard equipment, attractive styling and a choice of engines that spans up to a 2.5-litre five-cylinder petrol.