It’s hard to believe that fall is fast approaching, but the signs are all there – the start of school, the turn of the leaves, the kickoff to football season, and of course, the introduction of new car models in dealer showrooms. If you’re thinking about buying a car this fall, the Consumer Reports Cars Blog recently discussed whether it was a good deal to buy a car leftover from the previous model year. Here are some pros and cons they mentioned:
Pros of Buying Last Year’s Car Model
- If both are available on the dealer’s lot, a car from the last model year is almost always cheaper than a car from the new model year. Dealers are more likely to deal on older inventory and car manufacturer discounts on new inventory are fewer.
- Since it’s a new car, you still get the same full warranty and any other automaker benefits offered to new car buyers for car (e.g., telematics or satellite radio subscriptions, free roadside assistance, etc.).
- Last year’s model may be more reliable, as Consumer Reports’ surveys have shown that new car models have more problems on average then those that have been on sale for a year or more.
Cons of Buying Last Year’s Car Model
- A leftover new car is already a year old the moment you drive it off the lot, which is important when considering depreciation, especially if you trade in your car frequently.
- If you’re looking at a car that’s being updated or redesigned for the new model year, you’ll miss out on those updates in a car from the previous year. This includes safety and convenience factors that might be important to you, as well as engine and transmission updates and new in-car technology options.
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