If you’re planning to buy a new car in 2025, get ready for some sticker shock. With President-elect Donald Trump about to take office, there are growing concerns that his trade policies could send car prices skyrocketing.
Trump has promised to hit foreign-made goods with hefty tariffs once he steps back into the White House. But what does that mean for you, the car buyer? Auto experts and dealerships are already preparing for the worst.
George Glassman, a car dealer who sells popular Japanese and South Korean brands, explains, “If these tariffs go into effect, you’ll definitely see higher prices on new cars. That’s not great for the consumer or the economy.”
And he’s not the only one worried. Auto analysts agree that tariffs on foreign cars could drive up the cost of your next vehicle. In fact, some estimates predict that tariffs could add anywhere from $600 to $2,500 to the price of a car.
While this sounds like a tough pill to swallow, not everyone is convinced it’ll happen. Some experts think Trump’s tariff talk is just a bargaining tactic, and that new tariffs may never come to pass. Still, it’s a good idea to brace yourself for potential price hikes, just in case.
So, if you’re thinking about buying a car in 2025, you might want to act sooner rather than later to avoid paying more!
