You are in your dealership and you notice that alongside the 2016 models, there are brand new 2017 model-year vehicles. Both are new, both have never been driven, and both can be purchased today. How do you decide which one to choose?
Even if the New Year is still far away, the automotive industry likes to be ahead of everyone. That’s why 2017 models are starting to arrive at dealerships for most brands even if we are still not even halfway in 2016. For consumers, this can cause a problem because there are a few considerations that go with each alternative.
The first thing to look at is how the vehicle has changed. Are there new features? More interior space? A different design? More efficient engines? More safety technology? While some vehicles are completely redesigned, others basically stay the same from year to year or they are only slightly refreshed. What is important here is to figure out if the changes (if any) made to the vehicle are sufficient to make it so that the 2017 vehicle better serves your needs.
If that is the case, then remember that unfortunately, the price will probably not be the same. Perhaps the sticker price stayed the same, but ultimately their will likely be less incentives or less attractive interest rates on financing or leasing the 2017 model, simply because it is new and automakers as well as dealerships want to get the 2016 models out the door.
On the other hand, when it comes time to resale the vehicle later down the road, you have to remember that the 2017 will probably have a better resale value. That’s only because it will seem to be a newer model. Think about it, if you are looking at pre-owned vehicles today, a 2014 model will seem newer than a 2013 and you may be willing to pay more for it even if they may have been purchased on the same day three years ago!
Thank you to Glenmore Audi for their help with this article.