Should I wait until September?

Malibu · 06-06-02, 12:46

I'm currently in the market for a used Grand Cherokee. I was wondering if I should wait until the new 2003s come out in September to buy. My logic is that the used ones will take another hit of depreciation, and better to let someone else take the hit and not me, plus I'd be able to buy it cheaper. Does this sound like a valid idea?

Mike

bretfraz · 06-06-02, 09:51

Well, this is true with any depreciating asset. I don't know where you'll draw the line though.

Generally speaking the new model year has little effect on a previous year's depreciation. Time depreciates cars, not new model introductions.

There are always a few exceptions to this; some of this is regional as well. For example the price of convertibles goes up in the spring and down in the winter. 4WD vehicles are the opposite.

If you have your eye on a specific vehicle, buy it now and enjoy it.

Malibu · 06-06-02, 03:16

Cool, I get to satisfy my urge for instant gratification.

Thanks Bret!

Mike