Score a Sweet Deal on a New Car — Hurry Before It's Gone! - NEW BOX OFFICE TO DAY

• If you're searching for a new vehicle, now is an excellent moment to make your purchase before pre-tariff stock runs out.
• Make sure to compare different offers and look for any incentives or discounts to secure the best possible deal.
• This marks the fifth part in BI's six-segment series addressing significant life choices amid this era of substantial transformation.

Concerns regarding a potential recession and the The tariffs imposed on imported vehicles during the Trump administration have created upheaval not only within the automotive industry but also for consumers.

Auto industry professionals and car dealers informed Business Insider that despite continuing price increases, there are currently opportunities for good deals due to plentiful stock available at dealerships, although this situation might soon change.

"Due to the tariffs, situations can shift at any instant; you might be uncertain about developments even as we speak," said Beau Boeckmann, President and COO of Galpin Motors, a California-based dealership group, to Business Insider.

The unstable circumstances have put numerous automobile buyers in suspense, pondering if they should make their purchase immediately or await better times.

This marks the fifth part of BI's six-segment series addressing significant life choices during times of substantial policy upheaval. So far, we have explored key strategies for:

• Starting a business
• Buying a house
• Switching jobs
• Investing in stocks

Buy now, save now

Car manufacturers have suggested that increased production and import expenses due to tariffs may result in higher vehicle prices. According to industry experts, this is an opportune moment to purchase cars before prices rise and stock becomes limited.

"I simply fail to understand how waiting would benefit someone who has already made up their mind about purchasing either a new or used car," said Brian Moody, the executive editor at the vehicle valuation and automotive research company Kelley Blue Book, during an interview with BI.

According to Cox Automotive, which owns Kelley Blue Book, as of late March, auto manufacturers held around 2.7 million vehicles in stock, equating to approximately 70 days' worth of supply. Typically, having enough inventory to cover 60 days is seen as ideal for automotive companies.

Good deals can still be yours if you move quickly.

However, many upcoming deliveries of new cars, including units made in Canada and Mexico, will include Components manufactured outside of North America would face a 25% tariff. .

The Center for Automotive Research It’s estimated that the price of a new car might go up by $4,200 for domestic cars using imported components to as much as $8,700 for those assembled outside the U.S. This additional expense comes atop an average retail price of $48,699 in April, which is roughly $1,200 more compared to the previous year.

"Pricing is on the rise. It looks like we might see this as early as May, with a possible substantial overall hike in prices, though some brands may experience bigger increases than others," stated Boeckmann, who owns dealerships selling various automobile makes such as Honda, Mazda, Volkswagen, and Volvo.

Certain car manufacturers have higher vehicle inventories compared to their counterparts.

Data provided by Cox Automotive at the close of March indicated that Lexus and Toyota maintained the smallest vehicle inventories within the sector, holding supplies for 30 and 32 days, correspondingly. Conversely, Nissan, Hyundai, and Ford exhibited larger stockpiles, ranging from 90 to 100 days’ worth of vehicles.

Moody indicated that purchasers would probably find better success looking into brands that have higher stock levels.

Currently might also be an opportune moment to consider purchasing an electric vehicle, as the industry’s stock levels have averaged around 93 days, based on March sales statistics provided by Cox Automotive. Despite this, the available stock of electric vehicles has decreased by 26% compared to March 2024.

At the start of April, President Donald Trump declared a 25% tax on cars and automotive components coming from outside the U.S., leading numerous car manufacturers to reduce their prices.

For instance, Ford provided the employee-discount pricing. For customers on the majority of their models till June 2nd, meanwhile, Nissan reduced the prices on two of their top-selling SUVs, the Rogue and Pathfinder, by as much as $1,900.

Various discounts are available, however, purchasers might have to move quickly.

Jessica Caldwell, who leads insights at Edmunds, stated, "So for those consumers, check if there are innovative schemes within the category you're interested in, and consider being open to various brands."

Now is an excellent period for trading in your old vehicle, yet purchasing isn’t recommended at this juncture.

As the cost of new cars has increased, numerous buyers have shifted towards purchasing used vehicles instead.

Sadly, this isn't a great time for you if you're looking for one. good used car deal.

The pre-owned vehicle market is driven by the influx of two- to three-year-old vehicles from lease returns. The production slowdown due to the pandemic and the ensuing semiconductor shortage reduced the number of new cars being leased recently, which has led to a decreased supply of used cars currently available.

"Probably this will turn out to be the toughest year for lease returns due to the chip shortage from three years back," Caldwell stated.

The available stock of used cars decreased to a 39-day supply by the end of March, down from a 43-day supply in February, as reported by Cox Automotive. Additionally, Cox stated that used car sales rose by 181,000 units in March compared to the previous year, primarily due to concerns over impending tariffs.

Over the last year, average used car prices have remained fairly steady at approximately $25,000; however, they saw an uptick of $180 from February to March.

As the cost of pre-owned vehicles climbs, Boeckmann and other dealerships have begun providing higher amounts for trade-ins, which could make new automobiles more budget-friendly for buyers.

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