COLORADO SPRINGS — Recently imposed tariffs are top of the mind for a lot of us here in the U.S. For people looking to buy a car, prices are expected to increase soon. There is a narrow window to snap up a new ride without tariffs if you're in the market to buy.
An automotive expert tells News5 that if you need a new car, now is the time to shift gears and buy.
"We have a daughter on the way, so I need a little bit of a bigger vehicle, so I’ve come here,” said Chris Taylor in the car lot of Phil Long Ford in Colorado Springs.
Taylor said he’s looking to expand his family and his car collection. But like many, he's not an expert on tariffs.
“I’m not really in with the whole news [thing]. I watch it here and there, but other than that, I’m not really into…tariffs,” Taylor said.
So, what exactly is a tariff?
“A tariff is an extra tax or an amount of money that’s levied against goods into this country to sort of even the playing field with regard to our homegrown economics,” said Kelly Blue Book Representative Brian Moody.
Moody says both new and used car prices in the U.S. are heading for an upward drive in the coming months following the recent 25% tariffs on foreign cars and parts.
“If I were in the market for a new or used car, I would definitely speed that process up,” Moody said. “The sooner you do that, the more likely you are to buy a car that didn't incur a tariff.”
He said there's still a short time frame to purchase a car before the price tags skyrocket.
"Many automakers including Hyundai, Toyota and Honda, even BMW, have said they're not raising prices,” Moody said. "Ford has a program where everyone gets employee prices on certain vehicles. These are temporary solutions; what the long-term solution is, we don’t know.”
If you need to purchase a vehicle after the auto tariffs impact U.S. dealerships, you still have options when negotiating a deal.
"Try asking for free oil changes, maybe car wash when I come in or a rental car for when my car needs service, Moody said. “Any of those things that are not necessarily monetary incentives. They’re sort of like perks.”
Buyers like Taylor can breathe a little easier knowing he’s getting ahead of the curve in an unpredictable future for cars.
“If that is the case, and that’s what’s happening, then yes. 100% I would be getting ahead of it,” Taylor said. “I’m not trying to have a car that was once $30,000, now going up to $50,000/$60,000 because of the tariffs that are going on.”
Moody believes multiple car dealerships are planning to raise prices by June if the tariffs persist. He also advises drivers to act soon if they need any car repairs because the price of car parts is also expected to rise.
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A family in Colorado City says illegal dumping near their home is becoming a safety issue
One official told News5 the trash piles could be infested with rats or other dangerous factors, so they are waiting to work with the health department to remove trash from the area.
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