What is a Model Year and When to Buy a Car
If you’ve ever worked in the auto industry, or even did the research for buying a car, then you may have once heard the term model year. However, it’s an odd term that sometimes seems a little unnecessary. Aren’t all 2015 cars released in the year 2015? Well, yes and no. The Chrysler Pacifica was released as a 2017 model sometime early-mid 2016. So a model year is a little different.
What is * *a Model Year?
Unlike a regular calendar year where an event in 2017 will always be known as 2017, a model year simply relates to when a car is the most available. This is because auto production for many vehicles today takes place in the late summer, and sometimes as early as July. Following its production, a vehicle is usually released soon thereafter, as early as the following fall season.
So, a 2018 model could be made available in the fall of 2017, like the 2018 Kia Stinger we’re still waiting on. In fact, several Kia models have already been released as a 2018 model year, including the Kia Sportage and Kia Sorento. Like the Kia Stinger, the 2018 Kia Optima is on the horizon, as is the Kia Niro PHEV and Kia Stonic. Don’t be surprised if you see either of these in show rooms by October. Regardless, a 2018 model year vehicle is typically available all of the 2018 calendar year and onward, even if the next model year vehicle technically replaces it. It’s not like dealerships pull a lever and empty 2016 inventory when 2017 rolls around — but they are looking to get as many new vehicles in stock as they can, and that’s wherein the trick lies for the “best time to buy a car”.
When is the Best Time to Buy a Car?
This question should have a simple answer, but it’s a little more complicated than that. One would say the best time to buy a new car would be towards the fall, and in some sense they would be right. We just said most 2018 vehicles will be released towards the fall, so dealerships will be looking to sell 2017 vehicles asap to get new vehicles on the lot. However, there’s more to it than that.
Sometimes the right time to buy a car depends on the car you want. For one thing, some automakers have their own production and release calendar. If looking to get a new car of a favorite brand, it would be a good idea to do some research. When was their last vehicle debuted? When did it go into production? When was it released? With some simple math, an average consumer can figure out when would be the ample time to shop for a car by the brand they prefer.
Another factor is the type of vehicle one is looking for. Surprising as it is, different car classes have better prices at different times of the year. For example, a family-oriented SUV like the Kia Sedona could have a better deal in May than a compact or midsize car. The latter two vehicle classes tend to strike up better deals and discounts later in the year – if a Kia Optima or other sedan is of interest, take a look at them around November.
Of course, there are days to buy if you’re looking for the best deal. Based on resources from U.S. News & World Report, there are a total of three dates that can almost guarantee a good deal. The average vehicle can get a discount as much as 8 percent between December 29 – 31. Following that, the most obvious next choice is crack of dawn on January 1st. Or the first Monday of a month. Sales representatives have numbers to hit, and who doesn’t want to hit their sales quota early on so they can take the rest of the month easy?
* Have you heard any other advice you’d like to share? We’d love to hear it . As noted, some 2018 Kia models have been released, and wouldn’t you know, we have plenty in our inventory . *
* Photo Source/Copyright: Shutterstock.com/ ConstantinosZ *
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