2003 models get added value from overall market perks

Compare '03 and '04 options before buying, however.
CBS MARKETWATCH
SAN FRANCISCO -- For auto buyers who don't need the latest and greatest model, there's never been a better time to buy a new car.
Automakers are rolling out their 2004 models -- some of which are already discounted up to $3,000 -- and that means they're more eager than before to move their remaining 2003s out of the way.
With incentives ranging as high as $7,000, cost-conscious car buyers have no reason to look elsewhere.
"At this time, for the consumer that is really price-sensitive more than style-sensitive, it's just a fun place to go in the marketplace right now," said John Honiotes, vice president of dealer relations for Autobytel, a car-buying Web site.
"Look at the Cadillac DeVille," he said. "There's $2,000 on the 2004 in dealer cash, and there's $6,000 on the 2003."
Advantage to newness
Still, for some consumers, the best value might be had in a 2004. More manufacturers are offering formerly costly perks as standard features now, and that may mean you're ultimately better off with a 2004, said Rob Gentile, manager of new and used car pricing at Consumer Reports.
"Sometimes, there are more standard options on the newer model. Even though you may get a better deal on the older model, if you start adding in options at additional costs, and those are standard on the newer model, you may be better off with the newer model," he said.
Also, buyers who'll only be in the car for the short term should stick with the latest model. "If you know you're going to sell the car within a year or two, you may be better off buying the 2004, because the '03 has already lost quite a bit of its value," Gentile said.
"The minute you drive the 2003 model off the lot, it's already considered to be one year old," Gentile said. But, "if you plan to keep it for more than three to four years, go for the '03."
And, for resale purposes, check to see if your 2003 is at the end of a design run. If the car is being redesigned for 2004, your model will look dated when it comes time to sell.