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I AM looking to downsize from my Ford Mondeo into a compact, five-door hatchback. I’ve got £7,500 to spend – what are my options? They’re ten-a-penny on the roads of Britain – and for good reason – Ford’s Fiesta combines style, practicality and cheap running costs into a package few cars can match.

We’ve found a 2014 car in Zetec trim, priced at £7,500 with 9,400 miles on the clock. Included in the spec is air-con, rear parking sensors, a radio and a five-speed manual gearbox.

The 82hp 1.25-litre engine is frugal if not especially punchy, returning a claimed 54.3mpg. And, as a bonus of this being a pre-April 2017 car, road tax is just £30 a year.

Next up is a 2014 Volkswagen Polo 1.0-litre S. Safe, solid and spacious, the Polo is seen as a slightly more premium choice in the supermini market.

This shows in the standard equipment list, where goodies such as a five-inch colour touchscreen, DAB radio, Bluetooth and height-adjustable driver’s seat are all included.

Performance is pretty pedestrian however, with the 60hp engine meaning 0-60mph takes around 15 secs. There’s no air-con, however, so make sure you consider the implications of this before buying. The model we’ve found has 12,000 miles on the clock and is listed at £7,500.

Our final choice is a 2014 Kia Rio. Packing 108hp from its 1.4-litre engine, there’s far more punch on offer than in our other two options, however road tax increases to £115 a year. Equipment levels in this high-spec “3” model are also impressive, with heated front seats, cruise control, climate control and rain-sensing wipers far outdoing anything the Ford or Volkswagen can offer.

Priced at £7,490, this 20,000-mile car also still has a whopping four years left to run on its standard manufacturer warranty.