Why Buy a Previous-Model-Year Vehicle | Cincinnati, OH
Want to save money on a brand-new vehicle? Consider buying a model from the previous model year. Here are some perks to consider when shopping for a previous-model-year vehicle.
More for your money
We all like to save money, and buying last year’s model of car instead of the current year is one way to do that. Unless the manufacturer has made a major upgrade or introduced a significant amount of new technology features that you really want, there isn’t that much difference between this year’s model and last year’s. Check the specs listed on the dealership website to make sure you aren’t missing out on any must-have features. When you consider the discounts you can get on the earlier model, it seems like a clear choice.
Length of ownership
There is a big difference in value between a brand-new car and a previous-model-year one, but that gap shrinks the longer you own the vehicle. If you plan to keep your car five years or more, there will be very little difference in the value of the two model years by that time.
Save big on leasing
If you plan to lease the car instead of buying outright, you can save a bundle by leasing. With a lower sticker price, rebates and incentives, you could pay much less per month for the miles you drive on a slightly older car.
With a lower sticker price, you won’t have to borrow as much money to pay for your previous-year car. Therefore, in the long run, you’ll pay less in interest on your loan and enjoy lower insurance payments, while still driving a reliable, modern vehicle.
At Joseph Volkswagen of Cincinnati, we offer a variety of previous-model-year vehicles. We’re more than happy to help you find a car that suits your lifestyle and budget!