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18032 is the newer generation, it has a handguard that sits a little lower than the generation 2 (18016) under the rail on the receiver so it gets in the way of scope bells less and also the bolt body has a better/different finish.

18016 is Gen 2 of the Ruger Precision Rifle - Gen 3 (model 18032) has an "improved" handguard (which allows mounting a scope lower) and "Bolt body is nitrided for corrosion resistance, smooth operation and durability" per Ruger website. Check the model numbers - 18016 is Gen 2 which has original handguard and non-coated and rough bolt body. 18033 comes with 2 x 10-round MagPul mags and a barrel thread protector for when/if you remove the muzzle brake for cleaning.

Dwayne, the 18032 is the upgraded Gen 3 Sir. The Gen 3 version takes all the great stuff you loved about the Gen 2—and make just a few tweaks. First, the old KeyMod hand guard has been replaced with a new lower-profile M-Lok handguard that gives you just a little more scope clearance for big optics—so if you prefer M-Lok, this is a nice change. The second improvement is a black nitride finish on the bolt, which replaces the stainless finish on the Gen 2 bolt. These aren't groundbreaking changes by any means, but why overhaul a good thing? Bottom line: it's still the RPR you know and love, but with a few shrewd improvements based on feedback from competitive shooters. - New for the Gen 3: - New lower-profile free-float hand guard with M-Lok slots rather than KeyMod slots - Black nitride finished bolt.