Can The New 2016 Camaro Dethrone the Mustang?

This weekend, GM officially took the wraps off of the highly-anticipated 2016 Chevrolet Camaro for the world to see. Was the long wait worth it? We'll dip our toe in the pool and say yeah, we think so. At first glance, the iconic 6th-gen sport coupe looks similar to the current 2015 model. But take a closer, more measured look and you'll see that the newest iteration features a host of big, big changes. From the trio of new engines to the highly-upgraded interior to the chassis itself--no stone was left unturned. And frankly, that's the only way to conduct business, especially when you're chasing the sport coupe sales king, the 2015 Ford Mustang.

Camaro Shoppers: Should you buy now or wait?

We know giving this answer can be categorized as punting, but if you're in the market for a Camaro, it depends. If you can stand to wait until late this year (November/December), then we would wait. Regardless of whether or not you prefer the current 2015 model, waiting gives you a chance to test both model years and make a more informed buying decision. And we all know how the stinging sensation of buyer's remorse feels when you buy something only to find out that a new & improved version is that much better.

Moreover, prices for the outgoing 2015 model will likely improve as Chevy dealerships scramble to make room for the freshly-minted 2016 models.

What About Mustang Shoppers?

Our advice would be to wait. Although updates to the 2016 Mustang should be minimal, the 2017 model year will likely come with some big improvements as Ford schedules upgrades. But those details on those upgrades won't be unveiled until late 2016 which is still quite a ways away. In the near term, Mustang shoppers should strategically wait until the end of 2015 because Ford might incentivize the Mustang a little more to compete with prospective 2016 Camaro shoppers.

The Challenger Next Up

The Challenger is scheduled for a big redesign in 2016 or 2017--too long to wait for must. That being said, it's not the oldest in the current sport coupe segment--that title goes to the outgoing 2015 Camaro which has been in production since 2009. However, the Challenger is the priciest of the group here with a base price $3,000 north of the Camaro and Mustang.

Will Incentives Improve?

The majority of the time, Incentives on an all-new redesign will never really be big. Most of the time, they're not even offered. The 2015 Mustang has been out for some time now, but we're only seeing $500 rebates available. On the contrary, we saw rebates as high as $1,500 on the older 2014 model. Will the same thing happen with the Camaro? Most likely it will.

Learn about more deals and incentives on most new cars »

The Takeaway

Regardless of the model, your best bet here is to wait. It will not only bear fruit in the form of better incentives, but will also give you the time you need to test drive all three models. We totally understand that each of the three marques mentioned here have their allegiances amongst enthusiasts. But at the end of the day, if a sport coupe is better than its competition and the prices are the same, logic should prevail. Will the Camaro?