Should You Buy a Leftover 2010 Model?
However, if you're in the market for a new car, you may be asking yourself: Am I better off waiting for new models to come out, or buy a leftover at the end of the season?
The answer is - it depends. Waiting for updated or redesigned models means you'll get the latest safety and convenience features, while updates to engines, transmissions, and technology will likely improve fuel mileage and performance.
On the downside, new models almost always cost more than the ones they replace, and discounts are less likely.
Buying a leftover should save you some money upfront because dealers are likely to negotiate to clear old inventory. However, a leftover new car is a year old the moment you drive it off the lot (you'll lose big on depreciation if you trade every couple of years). And your leftover car is likely to depreciate faster if it's been replaced with a redesigned model for the new model year.
One final thing to consider is reliability. New models tend to have more problems on average than those on the road for a year or more. The last year of a model's production is often the most reliable.
Bottomline: If you intend to keep the car for many years, buying a leftover model makes more sense. If you like trading-in for a new vehicle every 3-4 years, then you're probably better off buying the latest model.
Each week, I'll keep you up-to-date on the latest car deals and news that might affect your purchase. This includes...
- Best Rebates, Incentives, and Lease Deals
- Latest Car Buying Scams and Tricks
- The Best & Worst Time to Buy a Car
- Which Cars You Should Avoid