10 nearly-new cars that have dropped the most in price in 2024 – including supermini that’s £1,000s cheaper
Drivers could save £1,000s on a selection of nearly-new cars, with many models much cheaper now than they were a year ago.
According to new analysis by AA Cars, many three-year-old motors are now up to a third cheaper than a car of the same age at this time in 2023 – including one of the nation’s favourite superminis.
GettyNearly-new Fiat 500 models have dropped in price in the last year[/caption]
Land RoverThe luxury Range Rover Evoque is another that’s lowered by £1,000s[/caption]
VolvoA second-hand Volvo XC40 could be a bargain[/caption]
The much-loved Fiat 500, known for its compact size and fuel efficiency, has seen its second-hand value drop significantly in the last 12 months.
The data reveals a typical three-year-old model now costs just £11,259, which is 33% less than the £16,680 price-tag it would have fetched at the start of January – saving drivers £5,421.
Some larger and more luxurious cars have also seen their prices cut, with a three-year-old Range Rover Evoque now typically priced at around £30,963, offering a discount of nearly £15,000.
That represents a 32.5% reduction compared to the cost of a similarly-aged model just a year ago.
Other popular motors, such as the Volvo XC40, Kia Niro and Vauxhall Mokka, are all among the top nearly-new bargains that drivers can pick up today.
Five tips to get the best deal when buying a used car
According Wheeler Dealers star Marc Priestley
Look beyond the mileage – even low-mileage cars can have problems, especially if they’ve been in storage
Check the tiny details – something as small as the rubber seals around doors and windows can be vital
Have a look underneath – watch out for rust and corrosion on the underside
Inspect the boot – watch out for damp and leaking water
Check the papers – service history, MOT history, registrations documents
Such price drops have not gone unnoticed among car buyers, with many dealers enjoying a good start to 2024.
Official data from the SMMT shows that 1.97 million second-hand cars changed hands during the first quarter of the year, up 6.5% compared to the first three months of 2023 and the used sector’s strongest start to a year since 2019.
James Hosking, Director of AA Cars, said: “The rapid price inflation seen in the wake of the pandemic is now firmly in the rear-view mirror.
“When it comes to used cars, this is unequivocally a buyer’s market again.
“With the prices of many popular, highly reliable nearly-new models falling sharply, budget-conscious drivers looking for an upgrade will find it easier than ever to explore newer and more advanced models, as the rules of supply and demand are coinciding to give them better value for their money.
“But whatever your budget and whatever model most takes your fancy, prospective buyers should always explore several options, find out a good baseline price for their chosen model and spec while also factoring in how the vehicle’s age and mileage might impact its value.
“There’s especially good news for eco-conscious drivers or those thinking of going green for the first time – a surge in the supply of used EVs and hybrids is boosting choice and driving down prices.
“Although upfront costs on an EV remain higher than they are on a conventionally-fuelled car, the steady softening of used EV and hybrid prices is likely to continue as more hit the market.”
This comes as a popular version of the Fiat 500 that Jeremy Clarkson once described as having “the best engine in the world” can be yours for less than £3,000.
And elsewhere, Peugeot has announced it will scrap its line of performance cars – and could replace them with EVs.
Nearly-new cars, including nation’s favourite Fiat
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