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Should you buy a leftover 2015 or a brand new 2016 model?

One of the most common questions I get asked as a car dealer and auto auctioneer is, "When is the best time to buy a new car?" The answer is usually the time period between Labor Day and the middle of November. That's because this is when new car dealers and the manufacturers are trying to get rid of their current-model-year vehicles to make way for a small army of 2016 models. Rebates, incentives, cheap financing, and overstocks of unpopular models all help create the liquidity needed to turn the old inventory into a new set of wheels for the buying public – often at a very reduced price. But sometimes the "old" new car isn't a better pick than the "new" new car. It depends on a lot of factors, including the car in question and the differences from one model year to the next. I recently received an email from Jeff, who is interested in the Mazda CX-9 and asks whether he should buy a 2015 model or wait for the new version that will debut soon in LA. I'll use his as the example case. Length of Ownership The longer you own a vehicle, the less model year depreciation will be an issue. For example, the difference in value between a five-year-old Mazda 6 and a six-year-old version is about $1,500 according to the Manheim Market Report ($5,600 vs. $4,100). But if you look at the difference between 10-year-old and 9-year-old versions of that same vehicle, the price difference shrinks all the way down to $200. Because Jeff plans to own his new crossover for many years, the 2015 model wins in this category. View 19 Photos Rebates and Incentives The current CX-9 has a $4,000 cash incentive from Mazda. This is in part because Mazda still has quite a few left over. That $4,000 rebate for the current model is already coupled with even stronger discounts at the dealer level for those leftover 2015 models. TrueCar is showing that a loaded 2015 model can be had for $7,000 off the sticker at $28,600. You may even be able to beat that price by negotiating the deal yourself. Another thing to consider is that new models tend to be in high demand when they launch, which means that your purchase price will likely be substantially higher with the new model than it will with a leftover 2015. Again, financially speaking, this is a vote for the 2015 model. New Stuff It's also important to weigh what new features will come along with the updated model and how important they are to you.

2023 Japan Mobility Show Editors' Picks

No, it's no longer called the Tokyo Motor Show, but the Japan Mobility Show is still in Tokyo and it still has to do with motors. In fact, with the rise of EVs, it's more of a motor show than ever before. And there were an astounding number of motors (and engines) to see, or at least concepts that hypothetically have them. Truly, we haven't seen a turnout this amazing since before the pandemic.  As such, the 2023 Japan Mobility Show featured plenty of machines that could, and did, snag points from our editors. And yet, even with the massive field, one car, unequivocally, stole our hearts. Read on to see our favorites.   Toyota Land Cruiser Se concept View 4 Photos 5. (Tie) Toyota Land Cruiser Se  While this concept is not quite the off-roader that the Land Cruiser is known to be, a street-focused electric SUV seems like a fine fit for the Toyota portfolio. It's hard to imagine we won't see an electric Land Cruiser come to production one day, filling out that as-yet underrepresented three-row EV segment. Give us an even more rugged version, and we'll be happy — Senior Editor, Green, John Beltz Snyder   Subaru Sport Mobility Concept View 7 Photos 5. (Tie) Subaru Sport Mobility I'm still waiting for a fun, electric sport coupe, and as much as I enjoy the likes of the rear-drive BRZ, I could have some serious fun in something like this all-wheel-drive Subaru Sport Mobility year round. I could fill that hole in my heart left by my '04 WRX. — Senior Editor, Green, John Beltz Snyder   Toyota EPU concept View 4 Photos 4. Toyota EPU You know what I like? Useful, funky little vehicles. The Ford Maverick and Hyundai Santa Cruz fit that bill well, and it seems a lot of other people like them, too, based on demand. You know what I also like? EVs. You know what combines those two things? The Toyota EPU. Assuming it was priced fairly reasonably (well below $40,000 is what I'm thinking), I would seriously be looking at getting one. I also seriously hope that Toyota's seriously looking at launching this, because it seems like a seriously great package. Seriously. — News Editor Joel Stocksdale   Mitsubishi D:X Concept View 8 Photos 3. Mitsubishi D:X Concept We sure do wish Mitsubishi sold the Delica here in the United States. We've long been fans of the van, which initially was sold in rear-wheel-drive form but adopted four-wheel drive in the early 1980s, and judging by the numbers we see imported to the States, we're not the only ones.

Weekly Recap: Geneva's splendor reflects growing demand for ultra-luxury cars

Geneva is one of the most glittering auto shows in the world, but the list of high-powered and bespoke luxury cars was decadent this year even by the rich standards of the Swiss exhibition. It's great for enthusiasts to revel in the flame-throwing Aston Martin Vulcan, the racing-inspired elegance of the Bentley EXP 10 Speed 6 concept and the insane performance of the Lamborghini Aventador LP 750-4 Superveloce, but there's a reason for all of this opulence: the luxury market is big business. And it's growing. IHS Automotive forecasts that so-called ultra-premium sales will nearly triple this decade from 123,000 to 353,000 units around the world. The estimate includes brands like Aston Martin, Bentley, Ferrari and Rolls-Royce, but doesn't count BMW, Mercedes and Audi, which offer less expensive models in addition to their high-end flagships. Though IHS includes Porsche and its relatively large volume in the study, the ultra-premium segment is still set grow at about the same rate, even without the German automaker's figures. So what is propelling all of this growth in the most expensive segment of the auto industry? Put simply, there's more rich people. IHS Automotive principal analyst Tim Urquhart pointed to economic expansion in China, market recovery in the United States and a surge in the lucrative technology sector as contributing factors. This dovetails with a research report by UK-based Oxfam, an international relief organization, which found the world's richest one-percent owned 48 percent of global wealth in 2014, and it's expected to increase to more than 50 percent by 2016. View 17 Photos Carmakers are moving quickly to capitalize with new products, expanding their portfolios with low-volume speedsters like the 800-hp V12 Vulcan at Geneva, and plans to enter new segments, like Rolls-Royce's strategy to make an SUV. "Ultra-premium carmakers are looking to explore ways of growing their product offerings, and thus their bottom lines, in this most potentially profitable of segments," Urquhart wrote in a report on the Geneva show. In a nutshell, there are more choices for people with more money. It's a good time to have expensive taste. Other News & Notes 2016 Mazda MX-5 Miata production launches It won't be long now. The 2016 Mazda MX-5 Miata arrives later this year, and it's officially in production. Mazda announced this week that the roadster began rolling off the assembly line at its Ujina factory in Hiroshima, Japan.