Car Buyer Labs

Car Buying Advice, Tips, and Reviews

After comparing the 2024 Chevy Traverse vs 2023 Chevy Traverse, a silver 2024 Chevy Traverse Z71, is shown driving off-road.

Buy Now or Wait?: A Look at the 2023 and 2024 Chevy Traverse Models

The lineup of new cars, trucks, and SUVs evolves every model year, making the task of selecting the “best” new car a moving target. For many buyers, deciding starts with setting a budget. After that, most shoppers narrow down their choice to a specific body style and size category. For midsize SUV buyers, options abound, from value-priced entry models to high-end luxury SUVs with six-figure price tags. If you’re looking for a reasonably priced SUV with upgraded tech and the latest driver-assist safety technologies, be prepared to sift through a long list of contenders.

The midsize SUV category is among the most competitive – and the most confusing for buyers. Some automakers offer more than one model, and most vehicles come in multiple trims and configurations. More confusing still is when a manufacturer competes with itself, which is exactly what’s happening with the 2024 Chevy Traverse vs 2023 Chevy Traverse. All-new for 2024, the Traverse takes on a more athletic exterior appearance and doubles the size of its standard infotainment touchscreen. New for 2024 is the rugged Z71 trim, which outfits the Traverse in an array of off-road-ready features.

With such a substantial redesign, it might seem like a no-brainer to opt for a 2024 Traverse but don’t discount the benefits of grabbing a leftover 2023 model, which, as it turns out, are substantial. Deciding between old and new comes down to your preferences, budget, and purchase behavior. When the calendar flips to the next generation, the overlap between the last model of the previous version and the brand-new entrant offers buyers a unique window of opportunity that won’t come around until the next redesign. If you’re sold on the Chevy Traverse, here’s how to decide which model year will work best for you.

The black cargo area of a red 2024 Chevy Traverse.

Why You Should Buy the All-New 2024 Traverse

Do you camp out overnight in front of the Apple store every time the newest iPhone comes out? Are cushy leather seats a must, and just the thought of settling for cloth seating causes you to wrinkle your nose in distaste? Chances are, you’re a candidate for the newest 2024 Chevy Traverse. If any of these criteria resonate, the likelihood goes from maybe to definitely.

You Like the Latest Tech

If you’re first in line to shell out top dollar for the newest tech, you understand how to optimize ChatGPT for the most accurate results, or you can’t wait to devour the latest issue of Wired Magazine, the 2024 Traverse is your only option. Though the 2023 model comes with driver-assist safety and convenience technology, the next-gen Traverse ups the ante with a standard 17.7-inch infotainment touchscreen and a handful of safety systems – like Intersection Automatic Emergency Braking – that aren’t available on the 2023 version.

You’re Buying a Top-of-the-Line Model

Unlocking access to the 2024 Traverse’s most exciting new technology and luxury-level cabin features requires moving up the trim range. Features like a Bose audio system, GM’s hands-free Super Cruise driver-assistance system, and an available Automatic Park Assist feature are only available on upper-level trims like the top-of-the-line RS. You’ll also need to spend more for leather seating, a dual-pane panoramic sunroof, and a power liftgate.

You Prefer Modern Styling

If you compare the 2023 and 2024 Traverse side by side, you’ll see that the newer version leans into a sportier curb profile that aligns with other recently redesigned Chevy utes, like the Blazer and the Tahoe. The new Traverse has a more truck-like vibe yet retains its best-in-class cargo space and three-row, eight-passenger seating. The outgoing Traverse feels more traditional and crossover-esque.

A white 2023 Chevy Traverse is shown driving on a city street.

When It Makes Sense to Buy the 2023 Traverse

For buyers who prioritize value, sticking with a previous-generation Traverse will likely offer the most cost savings. The same goes for utility buyers who don’t place much emphasis on shelling out more for a few cosmetic upgrades. The 2023 Traverse also includes multiple standard driver-assist safety systems, so you won’t compromise on features that help you stay alert and aware while you’re on the go. Consider whether these factors matter to you:

You’re Price Conscious

Considering a large number of buyers wait for the newest generation before buying a vehicle, those last few 2023 Traverse SUVs sitting at your local Chevy dealership might get passed over. If you’re indifferent to cutting-edge tech and don’t mind if your car isn’t the latest style, you could save thousands, especially if you opt for the base model.

You Need Three Rows of Seats

If your criteria lean toward the practical side of the new car spectrum, you’re probably not dazzled by fancy leather seats and power everything. Instead, you need a third row of seats to accommodate your growing family and an SUV that provides plenty of cargo space for those weekend trips to the home supplies store. Why pay extra for the latest generation Traverse? Stick with the 2023 model, and you’ll end up with the same utility that’s offered on the newest version.

You Keep Your Cars for Years

If you hang on to your vehicles for years after you’re done paying them off, you don’t have to worry about resale value. Typically, the first year of a new generation will come with a higher residual value simply because it’s newer. Buyers who keep their cars for a long time don’t have to consider resale value in the overall value proposition.

What to Do if You’re on the Fence?

For buyers straddling the old-vs-new fence, there are several ways to land at a decision. First, take a test drive of both the 2023 and 2024 Traverse. Make sure your test drive includes time on the highway so you can fully gauge the major differences in ride handling. Also, try to drive both model years back-to-back so you can pick up on subtle differences you might not remember if you space out your test drives.

Pay attention to the little details, like seat comfort and ergonomics. Listen for road noise and notice when the vehicles travel over potholes or uneven roadways. Play with the infotainment system and decide whether a larger screen is useful or if it’s more of a distraction. If possible, bring the whole family so they can provide feedback on the rear seating. Take as long as you need to gather a clear understanding of how the vehicles differ.

Next, do a deep dive into the specifications for each model year. Does the base model 2024 Traverse offer more of the standard features you want – like the larger touchscreen – and you’d end up spending the same amount for a higher 2023 Traverse trim anyway? Perhaps the newer generation Traverse is your answer. Last, decide how you plan to finance your Traverse. Will you lease or purchase? Check with the dealer’s finance department for available incentives and rebates, and let cost dictate your choice.

The black interior and dash of a 2023 Chevy Traverse is shown.

Out With the Old and in With the New

The 2024 Chevy Traverse is set to disrupt the midsize SUV category with a slew of high-tech features that enhance driver safety and convenience. As one of Chevy’s most popular SUVs, the newest Traverse offers even more reasons to choose the Bow Tie brand over the competition. Still, there are many reasons why the previous generation 2023 Traverse might be a perfect fit for your family.
The automotive industry is constantly reinventing itself with new generations and futuristic technologies designed to make driving safer and more enjoyable. As the 2024 Traverse demonstrates, Chevy remains at the forefront of new vehicle innovation. Yet even the outgoing Traverse generation makes a compelling case for buyers who need three rows of seats but don’t want the bulk of a large SUV. Do yourself a favor and check out both versions – whether you choose a 2023 or a 2024 Traverse, you’re guaranteed a safe and versatile SUV for your family.