Which used light hatches are the best value?

Australians saw an unprecedented spike in used car values during the otherwise dark COVID years of 2020-2022, to the point it was like speculating on the stock market.

But over the past 12 months, interest rate rises and inflation have been reflected in the used car market with reduced demand and lower prices.

Now is the best time to buy a used car since early 2020, and we can show you which is the best value today compared to this time last year.

Thanks to data gleaned from the close to 230,000 used cars advertised on carsales.com.au at any given time, we have crunched the numbers on advertised prices a year ago versus those that have just sold.

Those ‘delisted’ prices may not be actual transaction prices, but in most cases a classified vehicle’s last listed price is pretty close, providing an accurate insight into the ebbing used-car values in the market today.

We’ve also ranked the models in the order they are most searched for on Carsales. Most of these are what you’d expect, mirroring the popularity of vehicles when they were new, but some might come as a surprise.

The data does not include all models in a segment. Some models were sold in very small volumes when new, and there are even fewer used versions of them as they drip-feed into the classifieds. These cars cannot be accurately assessed as the sample size is too small.

However, with the higher-volume models advertised, not only can we give you an accurate average percentage of value lost over the last 12 months, but also specifics in terms of make, model, variant and build year.

Now let’s crunch the numbers on what represents the best-value buying in the light car market today.

Among 49 individual models, the most searched-for used light car on carsales is the 2022 MG3 Core.

This particular hatch has done relatively well in holding its value over the past 12 months – in fact it has lost just 5.6 per cent of its value in that time.

The MG3 appears again as the third most searched-for used light hatch, in this case the 2021 MG3 Core. Obviously, buyers are keen to buy as new as possible, as the 2021 Core has dropped in value only slightly more, at 6.2 per cent over the last year.

It’ll also be hard to drive a bargain if you are chasing a 2020 Toyota Yaris Ascent Sport. Although Toyota’s smallest hatch ranked way back at 48th in terms of search volume, this particular Toyota has depreciated on average by zero per cent in the last year.

Overall, there are more versions of the Yaris in this list than any other make/model, including three Yaris GRs and five non-GR models.

And non-GR Yaris variants aren’t the only light cars with strong resale value. Although it was only the 44th most-searched car in the category, the 2022 Mazda2 G15 Evolve lost just 0.4 per cent of its value over the past 12 months.

When it comes to good-value buying now compared to 12 months ago, among the more pedestrian light hatches (non-hot hatch) is the 2019 Volkswagen Polo 85TSI Comfortline. Sitting at 12th in terms of search volume, the little VW’s delisted price has declined by 16.7 per cent.

Amid the rising cost of living, it’s no surprise that buyers are more likely to avoid used cars that are potentially more expensive to maintain and insure, such as performance cars.

carsales delisted prices reflect this, as hot hatches have declined the most in value the light car category in the last 12 months.

The 2020 Volkswagen Polo GTI – 19th in the list of most-searched light cars – has lost the most value of the top 49 searched light cars with a 18.9 per cent fall in its delisted price over the last 12 months.

Interestingly, the price decline was less for both newer and older Polo GTIs. For the 2021 Polo GTI (32nd on the list), there was an 11.0 per cent drop, while for the 2019 Polo GTI (the eighth most searched model), the average delisted price reduced by 11.5 per cent.

It’s a similar story for the Hyundai i20N, a hot hatch that actually had its order book closed for a while in 2022 due to overwhelming demand. The 10th most searched-for light hatch, the 2021 i20 N lost 17.0 per cent of its value between January 2023 and January 2024.

Speaking of hot hatches, the Toyota Yaris GR is very strongly searched in the used market, with three versions appearing in the list of top 10 searched-for models on carsales.

But while the GR might be keenly sought, buyers haven’t been willing to pay over the odds; the delisted price of the 2020 Yaris GR (the second most searched version in the light segment and the most searched-for hot hatch) has declined by 13.0 per cent in a year.

The newer 2021 Yaris GR has done a little better (while being fourth in terms of search popularity) with a 12.1 per cent easing in value. The relatively hot-ticket item in the Yaris GR range is the 2021 Yaris GR Rallye, which ranked seventh for search popularity and declined by a relatively mild 8.2 per cent in delisted price.

Meanwhile the discontinued Ford Fiesta ST hot hatch is the 34th most searched-for listing in this segment, as a 2020 model. The average delisted price of the 2020 Fiesta ST – the only Fiesta to appear in this top 49 most-searched list – shrank by 12.6 per cent year-on-year.

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