Automakers have an interesting method when it comes to releasing new cars for the next model year. For example, we can expect to see 2023-model-year cars start hitting dealer showrooms around August to October, depending on the manufacturer. However, some brands have already announced the release of certain 2024 models. Here is what you can expect.
Some 2024 EV models should be arriving in the latter part of 2023
While we can’t skip ahead in time and expect to see a 2024 Honda CR-V pop up a year in advance, we can expect that the release of certain specialty models is already on the calendar. For example, Cars Direct reports that the 2024 Chevrolet Silverado should be available in the fall of 2023, which is when the 2024 Chevrolet Equinox should show up as well.
The 2024 Honda Prologue should be gracing us with its presence sometime in 2024, in addition to the rumored 2024 Mustang. Keep in mind that the official release dates for certain makes and models will vary. We can likely expect to see some 2024 models roll out as early as Spring of next year, while other models, like the 2024 Honda CR-V, will probably show up closer to August of next year.
Given the vehicle shortage, you may want to consider putting a deposit down
If you want to get your hands on a 2024-model-year vehicle, or even a 2023 model, then it’s recommended that you put a deposit down. In order to do so, you can check with your local dealership for the car that you’re interested in and ask them what the protocol is for securing the model you want. Given the ongoing vehicle shortage, keep in mind that you may not be able to put a deposit on certain vehicles in some cases.
Also, as far as how much of a deposit to put down, that can vary by the dealership as well. In some cases, you may only have put down a $500 to reserve a vehicle, but in other situations, the dealership may require more. It’s also important to note that some deposits are non-refundable, so make sure you know what the stipulations are before you give a dealership your money.
Keep in mind that a deposit is mainly to show your intent to buy the forthcoming car and is in most cases not part of the down payment for it. Essentially, it’s a way to hold your place in line for it.
Protect yourself when putting a deposit down on a car
If you do decide to put down a deposit for any new car, it’s important to protect yourself. Real Car Tips suggests having the dealer show you the exact vehicle you’re interested in and tell you when it’s expected to arrive. Otherwise, you could be putting money down on a vehicle that can arrive much later than you expect.
Also, be sure to read the fine print before signing anything as the deposit might not be refundable. It could be a while before you’re able to drop a deposit on any of the 2024 models, but it could be the best thing to do if you want to be first in line for any of these new EVs.