Why you could save £1,500 the next time you buy a car | Personal Finance | Finance

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The UK’s most sought-after used cars are around 10 percent cheaper than last year with electric vehicle posting the biggest falls.

The net effect is that drivers looking for new wheels could well be saving more than £1,500 on popular models.

While there are savings of as much as £9,000 on prestige battery electric models amid concerns about a lack of public charging stations and “range anxiety”.

The analysis, which is based on pricing of the most frequently searched for used cars on the AA Cars platform, suggests used car prices have now been falling for six months.

The average price of the most popular second-hand cars was £17,250 during the first three months of 2024 – down from £18,957 in the same period last year.

The research identifies the Nissan Qashqai as the most popular used car, which has overtaken the Ford Fiesta.

The average figure for a used Qashqai is some nine percent cheaper than the equivalent period last year – down from £16,599 to £15,077.

The average figure for a Fiesta is 13 percent less – coming down from £11,247 to £9,752.

The biggest fall across the 20 biggest selling used petrol and diesel cars was seen on the Volkswagen Golf where the average was down 17.4 per cent – dropping from £20,044 to £16,548.

The government and car makers are pushing Britons to invest in expensive electric cars and hybrids to cut the nation’s greenhouse gas emissions, however the survey found these are the most likely to dive in value.

For example, the Volvo XC40, which comes as fully electric or a plug-in hybrid, is down by 22.7 percent – dropping from £39,526 to £30,570.

And the Renault Zoe is some 18.7 percent cheaper – coming down from an average of £14,646 to £11,911.

James Hosking, Director of AA Cars, comments: “The ongoing drop in used car prices is great news for budget-savvy buyers eager to hit the road or upgrade their motor.

“Regardless of when you choose to upgrade your car, it’s always wise to explore your options and work out the typical selling price of the model you’re eyeing up — but remember that mileage and age will play a factor.”

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