The time has come for you to purchase a new vehicle. Congratulations! This should be an exciting time for you. But when it comes to deciding on a vehicle, you have a host of choices. If you've found the make and model you want, there is still one last decision to make. Do you opt for the current model year, or the previous one?
There are benefits to each, and we've taken the time to lay them out for you here.
Benefits to buying the previous model year:
- Lower price. Not only are the previous year's models less expensive, there is also more room for negotiation on the price. You'll be able to walk away with a new car for less than the price of a new model from the current year.
- It might have all the same upgrades. Sometimes, vehicles don't change that much for the new model year. If that's the case for the model type you're interested in, it makes sense to save money and opt for the previous year's model.
- Higher trade-in value. Negotiation is the spice of life. And when you choose the previous year's model, you can certainly do a lot of this. You can negotiate to receive more money for your trade-in with a slightly older model. This, combined with the money you will save by purchasing last year's model, will result in more savings for you.
Benefits of buying the current model year:
- Higher resale value. While it's true that you may spend more money buying the current year's model, you have a better chance of receiving an optimal deal if you plan to sell your vehicle in the near future. If you purchase an older car, the resale value will be lower than a newer version.
- Updated features. Sometimes, the new model is completely different from the previous year's model. You may find that the current model has more tech and safety features, an upgraded body style, and other interesting add-ons or improvements. It can be worth purchasing a brand-new model for the many different updates.
Whether you opt for this year's or last year's model, you are sure to be getting a new car that's well equipped, safe, and on-trend. With a little consideration of the various benefits to each, you can find the best option for you. If you need any help deciding, please feel free to contact DAS Demo—we would love to help you.
