FOR those even just vaguely familiar with the first-generation BMW 1 Series hatchback, then it's possibly about time you had another look at what the latest editions offer.

First of all, the second-generation 1 Series is slightly larger than its predecessor, but BMW's use of lightweight materials meant that it actually weighed in lighter, so was more economic as well as offering more space for those on board.

Take the 116d for instance. With a low CO2 figure and high fuel economy, it has proved to be a pretty impressive all-rounder, with a fuel economy figure for the combined cycle of up to 78mph and a top speed of 124mph.

It delivered great performance, yet was exceptionally frugal - just what you need in these tough economic times - no wonder it was instantly appealing to business users who are normally locked into three or four year deals.

But this now means that there are some really great 1 Series models sitting on forecourts all around the country waiting to be snapped up by those seeking out a reliable, top-quality used family hatchback - many kitted out with a host of high-tech on-board goodies which were fitted as optional extras by the car's initial owners.

Being larger than the original, the second-generation models - which started to appear on our streets at the end of 2011 - finally solved one of the original model's main gripes - the lack of both passenger and luggage space.

Now the 1 Series offers a decent amount of room in the back so that even those of shall we say a larger girth can travel in a bit of style without feeling totally cramped and squashed up.

And another bonus feature is that the boot is much more spacious and practical this time round.

Inside the cabin, the 1 Series takes many of its design cues from its larger siblings, so the car's on-board controls and display units and dials will be familiar to most BMW fans.

As with the rest of BMW's ever-extending line-up, the 1 Series boasts a decent array of safety features, with airbags, traction control, anti-lock brakes and stability control all featuring as standard.

If you look around you may be able to find a model fitted with run-flat tyres which offer added safety while also being extremely quiet while on the hoof.

Out on the road, the 1 Series performs with distinction and really is just what you would expect any model from one of the world's most respected brands to be like, and with five trim levels in ES, SE, Sport, M Sport and Urban, there is bound to be model that ticks all the right boxes for you.

As a premium family favourite equally at home in busy city streets or on high-speed motorways, the BMW 1 Series has proved to be a "must-have" for those who could afford something a little up-market from the mainstream, so used car prices hold up extremely well.

A 2012 116d SE model sporting a 12-plate will have a price tag somewhere between £9,670 and £11,670 depending on the car's condition and mileage. Move on a year to 2013 and a 13-plate and prices will range from £11,090 to £13,255 for a similar spec model.

However, go for a fully-loaded example in all-singing, all-dancing Urban Professional Media trim with automatic gearbox, and you could be speaking of a price tag around the £13,050 to £15,575 mark.