Vehicle manufacture year versus model year

[mike_nofx]

I know some manufacturers like to refer to a vehicle as being next years model, such as selling a 2016 model now in 2015. I'd like to know if there are any specific rules surrounding this, and when you can refer to a vehicle with a particular manufactured year as being next years model.

My specific question is in regards to a vehicle I'm in the process of buying and getting comprehensive insurance quotes for.

The dealer has advertised it as being a 2008 model but actual build year is 2007 (from memory late 2007, exact month is not in front of me). It was first registered in 08' and I believe it would have been sold new as being an 08' model.

Now personally I don't care what year it's referred to but the insurance company does. It is roughly $20 more to insure an 07' model over an 08' which is nothing BUT the insured value is close to $1000 less for the 07' model which is something.

When online quoting insurance and selecting 08' model I am given a choice of 2 cars to select one simply stating the car model, and the other stating the same car model details but in brackets (MY08)

So basically, how do I determine what to insure it as? I'm obviously not wanting to defraud the insurance company, but if I'm entitled to have my car insured for a higher value and a little less premium then I want it.

[Falcon Coupe]

The build date determines what it is.

[simon varley]

you can always agree a value with the insurance company regardless

[ebv8]

dealers sell off compliance date and buy off build date, its just another way of snaking you out of cash
the car is an 07 model all day.

i still don't get why my premiums go up each year but my car value goes down, even with agreed value
i have to call and make them put it back up and then that costs more too

[mike_nofx]

Ah ok, that's kind of what I was imagining was the case.
Just threw me off that the 08' quote gave 2 options, MY08 and... Not MY08.

Also I realise I can select an agreed amount but I generally stick with market value since generally my cars are worth only market value. I only realised the value difference when looking at the agreed amount option and realising the range you could select was different by around $1000 which no doubt is also reflected in the market value.

[XB GS 351 Coupe]

It is the build date that matters the rest is just marketing BS from the dealer.

If the plates say '07 it's an '07 model. No one cares when it was first registered, there are still BF Cobra's out there that have never been registered, so are they now a 2015 model?? No they are still 2007 model vehicle.

[MAGPIE]

If it is built as a 2008 model it should be registered and insured as a 2008 model regardless of whether it was built in 2007 or 2008.

Changes between a 2007 or 2008 model year could be small or vast, but if you don't insure it correctly your insurance company could use it against you in the event of a claim.

[LTDHO]

Built in 07 then it's an 07.

Insure it as a 07 as they will inspect it (following an accident) as a 07.

Just because the dealer wants to flog off old stock as a new model is their choice.

[MAGPIE]

So how are all these 2016 Mustangs going to work then, when they were built in 2015 ?

[GasoLane]

Originally Posted by MAGPIE

So how are all these 2016 Mustangs going to work then, when they were built in 2015 ?

I think in Seopoland they work on a different system.

Where you can actually buy a 2016 Mustang (or any other model) now.

http://www.kengarffford.com/new-inve...tBy=year+desc&

http://www.americanfordmt.com/new-in...desc&view=list

[HO 3]

Originally Posted by MAGPIE

So how are all these 2016 Mustangs going to work then, when they were built in 2015 ?

They will be 2016 Mustangs, with that years model features, but built in 2015.............The same as Mustangs built Sept next year will be 2017 Mustangs, that are built in 2016.

Cheers Mick

[Silver Ghia]

Some misleading information above. The insurance companies make it easy these days, they list the different models that were manufactured during the particular year.

So if it was manufactured in 2007 and its a MY08 model, thats what it should be insured as. Regardless of when it was registered.

And I always specify an agreed value, so there are no concerns about getting less than I thought if the vehicle is written off for some reason.

[HO 3]

Originally Posted by GasOLane

I think in Seopoland they work on a different system.

Where you can actually buy a 2016 Mustang (or any other model) now.

http://www.kengarffford.com/new-inve...tBy=year+desc&

http://www.americanfordmt.com/new-in...desc&view=list

Yeah perhaps in the past, but I can't help but notice Holdern introduced its VF11 updates the other day which aligns with the other U.S. and global automotive manufacturers next years model introduction time frame.

Cheers Mick

[GTLEGEND]

Hopefully i can explain it. Model Year is the year the vehicle came to market and this differs to build year. For example an FG X is MY14. Even if you buy a 2015 or 2016 build it is still refered to MY14. It has nothing to do with build date. Another example is SZ Territory, SZ1 is MY11 and SZ2 is MY14. Even if you bought the last of the SZ1 in 2014 and it was built in 2014, it is still a MY11 territory. Confusing I know but it is a way to differentiate different models that come out in same year, ie you can have a 2014 territory, but is is SZ1 or SZ2 so they will go back to the MY release date to differentiate. Easily confused!!

[MAGPIE]

Originally Posted by HO 3

They will be 2016 Mustangs, with that years model features, but built in 2015.............The same as Mustangs built Sept next year will be 2017 Mustangs, that are built in 2016.

Cheers Mick

Yes I realise that, I was being sarcastic towards the "dealer marketing BS" quip.

I own a 2010 built 2011 Mustang

[superfly]

Originally Posted by XB GS 351 Coupe

It is the build date that matters the rest is just marketing BS from the dealer.

If the plates say '07 it's an '07 model.

My old WRX was a 1998 build MY99 and it was insured as a 1998 MY99. There was a significant difference between the MY98 and MY99.

You really need to go back to the manufacturer and find out when the new model came out. And the insurance companies should setup their insurance accordingly. So for the OP, he may have a 2007 MY08 and it should be insured as such.

[Davehoos]

Originally Posted by ebv8

dealers sell off compliance date and buy off build date, its just another way of snaking you out of cash
the car is an 07 model all day.

For rego you need compliance date and build date. That wasn't always the case. Build date in oz is when the chasis and drive line are married. The cars I built the date attached as the vehicle left the premises.

compliance date can start after the import tax was payed.
When the plate was approved by Canberra.

My October 1984 built, model year 1986 R31 skyline has a 2002 compliance date and was insured as a modified R30 skyline other wise it would have to be insured as a R33.

[malazn mafia]

Originally Posted by Davehoos

My October 1984 built, model year 1986 R31 skyline has a 2002 compliance date and was insured as a modified R30 skyline other wise it would have to be insured as a R33.

Why would it have to be insured as R33? Pretty sure R33 ceased production in the mid 90s? Wouldn't a 1984 Skyline then be insured as the equivalent of a locally delivered Pintara, with modifications

[xisled]

I have seen this happen when I used to work in claims. Basically the insurance company will give you the market value at the time of the total loss. Even if you have an agreed value.

The insurance policy will say you need to provide correct and accurate info. If it is not correct they may reduce or refuse your claim.

[xisled]

Originally Posted by ebv8

dealers sell off compliance date and buy off build date, its just another way of snaking you out of cash
the car is an 07 model all day.

i still don't get why my premiums go up each year but my car value goes down, even with agreed value
i have to call and make them put it back up and then that costs more too

There is a few things that a premium is based on. These things are value of car, cost of repairs, age and postcode you live in.

When an insurance company generates a premium, only small percentage of the insurance cost is based on the agreed value. The reason for this is that on average only a very small percentage of cars are actually written off, so this means that if you do have an accident, your car will more than likely be repaired. When a car is being repaired in the first year of its life or the 1oth year of its life the repair costs will be similar or more, even though the car is getting older.

In saying that, when a car value decreases the risk of the car being a write off in an accident increases due to the car not being worth as much, so the insurance company will need to factor in this cost as the car becomes a higher risk.

Also depending on where you live can make a massive difference in premium.

Also age plays apart in your insurance cost also.

[JG66ME]

In the UK the model year changed in August. I think the same goes for the US.

[Dr Terry]

Originally Posted by JG66ME

In the UK the model year changed in August. I think the same goes for the US.

The US & UK model years change around the same time of the year, but for totally different reasons.

In the US, the big 3 have always released their new models in September of each year. It's been this way since before WWII. So a 1957 Chevy, for example, was introduced to the market in Sept. 1956, & the '58 model in Sept. 1957 & so on. On the odd occasion they will introduce a model mid-year, like the 64 1/2 Mustang or 70 1/2 US Falcon.

With the advent of modern VIN numbering systems there is a letter in the VIN signifying the MY which usually changes on 1 Sept. each year. Holden also use this method here.

The UK MY set-up is completely different. Most of the cars on the UK market are Euro-based, all of which are all over shop with their model codes. They have no consistent MY or series coding of any type.

As a result all cars in the UK have a unique letter on their number plates to signify model years. This letter changes on 1st Sept. each year. Also, apart from custom plates, the plates in the UK stay with the car for its whole life & are never re-issued. Wrecking yards in the UK have the plates remaining on all of the cars stacked there. If plates on a car are lost or damaged, they a remade & re-issued with the same number.

The poms refer to their cars as being a 'K reg', ' M reg' or whatever, based on the number plates' letter.

Strangely if a car built in say 2005, sat in dealership stock & not sold until say 2008, will have 2008 number plates fitted when sold & is legally referred to as a '2008 model'.

Australia was unique in the world, when it introduced dated Compliance plates from 1/1/70. For all Australian built cars, the 'build' date & the 'compliance' are usually on the same day, because the cars are 'complianced' on the assembly line.

Cars imported into Australia, have the compliance plate fitted on the day they leave the importer's storage area. Most imported cars these days, also have a plate fitted at the assembly plant stamped with its built date, so it's common to see imported cars where the built date & compliance date are months apart. Quick selling cars, like Corollas or Mazda 3s have less time lapse, whereas slow selling cars can have a time gap of several months or more. I remember seeing some of the slower selling mid-80s Mazdas, Hondas & Alfas, where the difference between build & compliance was over 2 years.

You often hear at car auctions these days, where a car is described as a 1998/1999 model or a 2007/2008 model, because they were built in one year, yet complied in the next.

Confusing, isn't it ?

Dr Terry

[Silver Ghia]

Originally Posted by xisled

I have seen this happen when I used to work in claims. Basically the insurance company will give you the market value at the time of the total loss. Even if you have an agreed value.

How can this be? I paid extra for a higher agreed value, and the PDS states the agreed value (minus excess and other deductions applicable) will be paid in the event of a total loss over the period of the policy.

[Crazy Dazz]

"MY" is simply a way to distinguish where there have been changes, but the production years overlap. It is used differently by different countries and companies. For some the Model year is the year it was released, so you could still have a MY13 being built in 2015. The seppo's seem to go the other way. Basically whereas most countries build "2015" cars right up until 31st December 2015, and then have to flog them off, the Sep's get in early, so that by 1st January 2016, there will only be "2016 models" and in fact you can get in early and buy a "2016" before the end of this year.

It's really neither here nor there. For insurance purposes, its just a matter of getting the right one.

HOWEVER, Build and Compliance date can be tricky with imported cars. My XR was built in 2007, but it's Australian Compliance plate is 2008.
You need to check with the insurer if unsure, but as a general rule it will be based on compliance date.

[chevypower]

Model year is way more important than build date. There is no difference between a Kia Optima built in Nov 2014 and August 2015. They are both 2015 Optimas, and that's all people really care about. There is a significant difference between one that was built in August 2015 to the one that will be built in December 2015, though the first gap is 9 months apart, whereas the second example is only 4 months apart. The alternative is to demand every manufacturer start building new models on Jan 1, hardly an ideal scenario just to align the build year with the model year.

[EB#]

As far as I have seen, 'MY' is simply a marketing tool for dealers and manufacturers. They sell on MY and take trades on build date, as others have mentioned.

Cars may not necessarily change in specification at all from one MY to the next MY, but sometimes they do - a bit of research for any given model is required. The changes may be as significant as a series 1 to a 2, or just minor cosmetic items like a slightly different stereo, cloth trim or the like. Even if there are no changes at all, pretty well all dealers will spruik any late-in-the-year build as next year's 'MY' car.

In terms of any confusion for an insurance policy, I would suggest to either go straight up for an agreed value, or have the build date and the MY both stated on the policy for market value.

[Yaw]

This an example from AutoEdge. It is not a marketing tool, these are actually manufacturer Dates to differentiate models.

All of these were built in 2014 but if you look in the description it will tell you the date released month. So effectively you can buy a car in 2014 which is the new upgraded model for 2015, meaning it would be a 2014 MY15 (MY stands for Make Year)

[mike_nofx]

Originally Posted by Silver Ghia

How can this be? I paid extra for a higher agreed value, and the PDS states the agreed value (minus excess and other deductions applicable) will be paid in the event of a total loss over the period of the policy.

I can't see how they could deny it either, because its "agreed" value, not just some random figure the owner says its worth, when they collected your money and gave you insurance papers, they agreed.

I wrote off a Landcruiser that I had an agreed value on, the knob-head insurance assessor said something along the lines of "I don't know why we agreed to $x value for this car, its not worth it" Regardless, I got the agreed amount.

I also had a friend who negotiated on the market value of a car they wrote off. Insurance said it was worth way less than what he felt it was worth so he spent time researching values on carsales, gumtree, ebay etc and was able to get the payout figure increased.

[xisled]

Originally Posted by Silver Ghia

How can this be? I paid extra for a higher agreed value, and the PDS states the agreed value (minus excess and other deductions applicable) will be paid in the event of a total loss over the period of the policy.

Yes u may have agreed value and paid extra for it, but you have given an incorrect car description.

An example the max agreed value for a 2010 fg xr6 maybe $10000 and the max agreed value for a 2011 fg xr6 is $12000 (same car except year). Figures are made up.

You insure your 2010 model as a 2011 because that what it was advertised as you can get a higher value, but in reality you should have insured it as a 2010 and agreed value would have been lower. Claim times comes, the car in insurance discretion does not match what you actually own and insurance company will base the value on the actual car as you have incorrectly insured the car.

I would highly doubt they would denie a claim on something like this, but it may happen, but hey would pay out on the lower value.

Remember it's you who need to make sure what you tell the insurance company the correct info other wise you risk not getting what you want at claims times.

[xisled]

Originally Posted by mike_nofx

I can't see how they could deny it either, because its "agreed" value, not just some random figure the owner says its worth, when they collected your money and gave you insurance papers, they agreed.

I wrote off a Landcruiser that I had an agreed value on, the knob-head insurance assessor said something along the lines of "I don't know why we agreed to $x value for this car, its not worth it" Regardless, I got the agreed amount.

I also had a friend who negotiated on the market value of a car they wrote off. Insurance said it was worth way less than what he felt it was worth so he spent time researching values on carsales, gumtree, ebay etc and was able to get the payout figure increased.

The agreed value still is based on the market value of the car. Insurance company will say for example 2010 model car is worth $10000, agreed value can be between $8000 and $12000, you choose how much you want to insure it.

Now that same car that has a 2011 build date is value at $12000. He insurance company say the agreed value of the car can be between $10000 and $14000.

So if the description of the car is wrong then the agreed value can be wrong also.