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Tariffs are driving prices up — hold off on big purchases for now
The Street
Follow
5/8/2025
As tariffs drive up costs, rushing into big-ticket purchases could leave you overpaying.
Category
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Sports
Transcript
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00:00
It's important to look past the daily tariff headlines.
00:03
You want to make sure that you're thinking about the long term.
00:07
For example, we believe that car prices are going to go higher.
00:10
That doesn't necessarily mean you should rush out and buy a car right now, though, because
00:14
the average monthly car payment for a new car is about $750 a month.
00:19
And while that could be going up, you know what's even better is a $0 a month car payment.
00:24
So if you can drive your existing car another year or two, rather than rushing into a purchase
00:29
that you might regret, because what if you end up overspending or what if tariffs don't
00:33
do what we think they're going to do?
00:36
Maybe you rush to buy now and you don't even get the car you want and you're stuck with
00:39
this high price tag.
00:41
You want to think about the long term.
00:43
That's true for your investments, but it's also true for purchasing decisions.
00:47
I mean, honestly, it's probably not the best time to make a big ticket purchase and a lot
00:51
of people are nervous.
00:53
But then again, if it fits your long term plan and you have the money and you're not going
00:57
into debt, well, then maybe that's fine.
00:59
But don't rush to go into debt now because something may or may not happen in the future.
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