Is it better to buy a car in 2023 or 2024?

Whether it’s better to buy a car in 2023 or 2024 depends on several factors, including your personal circumstances and priorities. Here are some factors to consider when making your decision:

  1. New Model Releases: Car manufacturers typically release new models in the fall of the previous year. For example, 2023 models may be available in late 2022. Buying a new model early in its release might give you access to the latest features and improvements.
  2. Discounts and Incentives: Car dealerships often offer discounts and incentives to clear out the previous year’s inventory when new models arrive. You might find better deals on 2023 models in 2024.
  3. Depreciation: New cars tend to depreciate in value the most during the first year. If you buy a 2023 model in 2023, it will likely depreciate more by 2024 compared to a 2024 model.
  4. Resale Value: Buying a 2024 model could potentially give you a higher resale value when you decide to sell it, as it will be one year newer.




  1. Availability: The specific make and model you’re interested in may not be available in both years, so this could influence your decision.
  2. Personal Financial Situation: Consider your budget and financial situation. Can you comfortably afford a 2023 or 2024 model? Evaluate the impact on your savings, monthly payments, and overall financial stability.
  3. Features and Technology: Consider the features and technology that are important to you. Newer models often come with updated technology and safety features, so if these are important to you, a 2024 model may be more appealing.
  4. Reliability and Reviews: Check reliability ratings and reviews for the specific make and model you’re interested in. Some cars may have a track record of better reliability in certain years.
  5. Financing and Interest Rates: Keep an eye on interest rates for auto loans. Rates can fluctuate over time, affecting the cost of financing your purchase.
  6. Emissions and Regulations: Be aware of any potential changes in emissions regulations or government incentives that may affect your choice, as these can vary from year to year.

Ultimately, the decision to buy a car in 2023 or 2024 depends on your individual priorities and the specific factors relevant to your situation. It’s a good idea to research the particular make and model you’re interested in and compare the options available in both years to make an informed decision.

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