Pros and Cons of Buying Last Year’s Model vs. This Year’s Model Interested in Toronto auto insurance, more information on buying old or new car models? Check the out the Insurance Hunter blog today! Every year car manufacturers across North America release the latest model of their current line of vehicles. While some of these new models only come with a few minor tweaks from the previous year’s model, others are complete overhauls with significant changes. If you are in the market for a new vehicle, timing of your purchase can make a huge difference. Do you wait for the new model to arrive or do you go with last year’s model? This situation happens every year before the new models come out. And, depending on the decision you make, you can find yourself on the winning or losing end of the deal. The biggest factor when it comes to comparing the current with the new model is the design. Does the new model come with a complete redesign? Or is the latest version very similar to the model that is already available? The decision you make will largely be based on your specific needs and situation. However, before you make your choice, the following are some of the pros and cons of buying last year’s model when compared to this year’s model. Pros of buying last year’s model When it comes to buying last year’s model, there are a number of pros. Too many people get caught up in getting the latest and greatest that they overlook the fact that they can get a really good deal and have bargaining power. Here are some of the pros of buying last year’s model of car: Price: In most cases, you can not only get a better deal on the car, you might even be able to get a better financing plan as well. Availability: With last year’s model, you can often drive it right off the lot. No waiting for the car to be delivered. Discount: With last year’s models you may be able to negotiate a further discount from the sticker price. Reliability: Since last year’s model has been on the road for a while, you have the advantage of reading reviews to find out how reliable the vehicle is. You will also be able to find out if there are any recurring issues with the car. Cons of buying last year’s model There are also a number of potential cons when it comes to buying last year’s model. They include: Missing out on features: Buying an older model could cause you to miss out on the newest features that are offered by the specific make of vehicle you are interested in purchasing. Remodelled designed: Depending on the year, you could be missing out on a newly designed model of the vehicle. Selection: Since you are buying an older model, your selection may be limited to what the car dealer has on their lot. Your choice of color or specific features may be somewhat restricted. No matter what decision you make, you will often give a little and get a little. This is why it is important to make sure you get the car that is right for your situation.
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