Situations Case
The deal youve been offered on a new car is mouth-watering. Then you hear rumors that the manufacturer plans to discontinue that line next year. What would you do and why?
There are many things that may go through your head when going through a situation like this one. The offer is pretty tempting: low-rate dealer financing for qualified buyers, cash back, etc. But wait a minute. Arent they shutting down? Yep. Thats why the cars have such big incentives right now. Where these are gone, theyre turning off the lights and locking the doors. This is not the first and last time an auto manufacturer has phased out a line of cars, and over the years, dozens of individual models have bit the dust.
Does it make sense to buy a car thats being discontinued? The answer is a resounding “It depends”. The major issue when considering a discontinued car is resale value. Also, some of the practical concerns in the past, like parts availability, are no longer a big factor in making a decision. Federal law now requires manufacturers to stock enough parts after a model is discontinued to cover the entire warranty period, including manufacturers extended warranties of up to 10 years and 100,000 miles. Plus, what you cant get from the manufacturer, you can get on your own. The bottom line is that when youre shopping for a car, the fact that a model is being discontinued shouldnt be the deal breaker.
There are several factors that have to be considered when deciding whether or not to take the deal. The most important thing is to get something that meets your needs and fits your budget. A car is not an investment. Dont even think of that; its always going to depreciate. Get the very best price you can get and keep it for as long as you can stand it. Those are two features that make a car valuable to you. In my opinion, I will not buy the car even if it was offered