I wait until the new release, and then look at the refurbished store to get a discount on the last generation model. I do this every four years or so.
The next one will probably have an OLED screen; so if you wait til then, your refurb M1/2/3 will be on Apple's short list of devices they don't want to support. (And you might have panel FOMO.) Or you'll have to pay the premium price for the latest model.