With fall comes the need to change for many automotive enthusiasts, and even those who are not that passionate. With the arrival of brand new 2016 models, many feel like their current car is outdated and they head over to their local dealership to sniff out what’s new.
You then realize that the dealership in question has two variants of the car you are thinking of buying. Sure they have the brand new 2016, but they also have a leftover 2015 which happens to be heavily discounted. What do you do?
The choice will depend on your priorities and requirements, but know that in both cases, you will have a new car which completely covered by the original manufacturer’s warranty and both warranties will be for the same period.
Buy a 2015:
Buying a current model year car has undeniable advantages if you plan to keep your car for a long period of time. For even if it is new, your dealer probably wants to get it off the lot as soon as possible in order to make way for 2016 models. It may be easier to negotiate the price and other goodies. In the end, you may just get a better price for the 2015 model.
In contrast, you must realize that a 2015 will lose more of its value to depreciation. In three years, you will have a model that is three years old while the person next to you in the dealership buying a 2016 on the same day will have a car that is two years old, even if both cars were purchased on the same day.
Buy a 2016:
You are an early adopter? Are you always looking for the newest thing even if the purchase price is higher? The 2016 model may be the best choice. That said, you will probably not have much negotiation leeway.
However, you will enjoy the latest updates in technology and design, and your new vehicle will have a higher resale value, especially if the 2016 model received a few tweaks and updates. If you plan to keep your vehicle less than four years, might as well go with the 2016 variant.
So, 2015 or 2016? It depends on what kind of buyer you are … and what you plan to do in the next few years.
Special thanks to Lallier Honda Repentigny for contributing to this article.