Just want opinions about buying a car now vs after 4-1 due to the tariffs. Is there going to be a huge jump is cost? I have a 2002 Honda that has its issues but mostly cosmetic in nature. I am also trying to fully retire this year which has its own set of financial concerns.
Would the tariffs last the length of this admin so the next 4 years i woukd be outpriced? Is now the time to buy?
Will they even be imposed? Trump keeps backing down on his tariff threats.
If they are implemented you can still look at any vehicle covered by the USMCA. They wonât have tariffs.
What vehicles would this be?
I thought April 1 was the start date?
I think buying now (IF and ONLY IF you can negotiate an excellent price) could be wise.
But, that said, predicting the future under trump is essentially impossible. If trumpski backs down on his latest moronic tariffs, then buying in the price doldrums of late summer might work too, especially as the trumpcession starts hitting the usa hard.
I guess it all come down to an infamous Dirty Harry line: how lucky do you feel ?
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Any vehicles with 75% of itâs parts manufactured in North America. Mostly Ford, GM and Stellantis (Chrysler/RAM/Jeep)
Haha. Not really lucky at all as most of us. I wonder,also, if this is a ploy to buy now. Then he can claim responsibility
The Trump admin canât figure out how to implement tariffs on parts that cross the border multiple times. Mostly because the idea of tariffs on Canadian and Mexican built vehicles and parts was not well thought out.
Do you have to buy a brand new car? Maybe find a 1-2 year old car that is very reliable.
I am 63 and have never bought a new car. I can afford it, I would just rather buy used and save my money. If you are thinking of buying and holding on for a long time, there probably isnât much difference in buying a new car and buying one that is 2 years old⌠except for the cost.
My opinion is that used vehicle prices are still elevated from the pandemic and supply chain challenges. I think the conventional wisdom of past is not as applicable.
I read dealers and manufacturers are stuck with inventory in some instances, reducing or in some instances eliminating the price gap for used/new. Factor in warranty as well.
Who knows when/if the tarriffs are implemented, and likelihood of impact on both new and used prices.
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Good information. Thanks for sharing. I wouldnât want to lead Cayenne astray.
Generally, this is a good strategy, except that (as helltrack points out), used car prices are still highly elevated. I say this because I just sold a 20 year old used car (to a private party) and I got thousands over the bluebook estimate. Also, if one prefers âbare bonesâ trims of a car, those are unfortunately often very, very hard to find used.
I donât think they qualify. I was listening to the World Service this morning and I think itâs only Tesla.
The talking head from the U.S. automotive industry was saying even moving at warp speed the non compliant will take 3-4 years to shift production to the U.S. - which begs the question, âwhy botherâ?
The other aspect is the the USMCA hasnât been confirmed as excluded from this as per this morning. Iâve been in the lash all day so that might have changed.
Tesla is the only EV that qualifies.
After both our vehicles cratered within a few months I replaced my wifeâs with a new model and I bought a slightly used truck for myself. Like Rick, I have never bought a new vehicle for myself. I also use and abuse the crap out of my trucks so it seems silly to pay the premium for new.
I found dealers not willing to budge at all on used prices and they were absurdly high to start. I would make a reasonable offer on a vehicle, and it wouldnât even get countered, just flat out rejected. That vehicle would then continue to sit for weeks, sometimes months, slowly going down in price every week or so until it was close to my offer. It genuinely seemed like nobody wanted my business or expected to budge on asking price at all.
This was a very different experience from the last time I bought a vehicle around 7 years ago.
Retail car prices may not jump on the date tariffs take effect, if they ever take effect.
First, economic theory (which may not match business reality) is that you price based on replacement cost. What the dealer paid for a car is a sunk cost. What the dealer should really care about is the price to replace that car in inventory. So, if you accept that theory, then itâs already too late, because dealers will already have begun to price-in the effects of tariffs.
Second, if you donât accept that theory and believe that dealers price based on what they paid for a car (not what they would pay for a replacement), then youâve got some time. Dealers have a few months of inventory.
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I dont have to buy new. My car now was bought new and i have had a wonderful ride. I want this next car to last 15 or more years. I am open to used!
Adding onto this because I was looking at what I would get in case of a total (got rear-ended badly in January) on my 2019 subaru. I bought it in 2019 new for 27k, now 5 year later, 90k miles, still worth ~20k. I would rather get a new car than pay that myself.
Buy a car that is about three to five years old on craigslist or Facebook marketplace for cash.
when the Ford Maverick hybrid came out, I thought Iâd wait a few years and get a used one. After a few years, used ones were selling for more than MSRP, because the waitlist for a new one was over a year long.
Similar effects are seen with Toyota RAV4 hybrid.
So the old ideas about used cars donât work anymoreâŚ
In particular they donât work for the used cars you want, Honda or Toyota, because these hold their value so well and donât depreciate. The actual dollar amount for a 3-5 year old model is slightly less than new, but not enough to make it worthwhile. Buying American used can still work, Ford is my favorite for this - decent reliability, cheaper parts and maintenance than foreign makes, depreciation still happens. Chevy and GM have two of the three but typically reliability is worse.
I bought a new Maverick last year after ordering and waiting 16 months⌠the first new car of my life, the last car of my life. I keep cars until they are 20 years old, the Maverick will outlast meâŚ
definitely would be buying now, expect tariffs and the chaos and uncertainty will push up the price of everything soon.