If you intend to keep car for only 4 years, it's possible that
buying 2yr old car may still be better (depending on its resale
value). Reason is the COE+Parf rebate of the old car may still be
higher than the new car, which will then translate into a higher
resale value even though it's an older car.
But of course got other considerations such as warranty,
maintenance cost and condition of old car, etc. The point is you
got to decide on how long you will want to keep the car and do some
careful calculations.