{"id":182331,"date":"2025-04-21T15:21:00","date_gmt":"2025-04-21T21:21:00","guid":{"rendered":"https:\/\/www.biggerpockets.com\/blog\/?p=182331"},"modified":"2025-04-23T11:38:53","modified_gmt":"2025-04-23T17:38:53","slug":"will-tariffs-change-the-way-you-buy-cars","status":"publish","type":"post","link":"https:\/\/www.biggerpockets.com\/blog\/will-tariffs-change-the-way-you-buy-cars","title":{"rendered":"Do This Before You Buy a Car"},"content":{"rendered":"\n<p><span data-preserver-spaces=\"true\">Cars are a <\/span><span data-preserver-spaces=\"true\">big<\/span><span data-preserver-spaces=\"true\"> source of contention in the finance world. It is very easy to <\/span><span data-preserver-spaces=\"true\">make judgments about<\/span><span data-preserver-spaces=\"true\"> someone (and their financial situation) based on what they drive, even if we have no insight into their financial world.<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">Take me, for example. I drive a 2013 Toyota Corolla with so many dents it is probably structurally unsound. <\/span><span data-preserver-spaces=\"true\">I can only imagine what people think when I pull up <\/span><span data-preserver-spaces=\"true\">in my car<\/span><span data-preserver-spaces=\"true\"> at the local coffee shop.<\/span><span data-preserver-spaces=\"true\">&nbsp;<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">In <\/span><span data-preserver-spaces=\"true\">the<\/span><span data-preserver-spaces=\"true\"> wise <\/span><span data-preserver-spaces=\"true\">words of wise people<\/span><span data-preserver-spaces=\"true\">, <\/span><em><span data-preserver-spaces=\"true\">what others think about me is none of my business<\/span><\/em><span data-preserver-spaces=\"true\">.<\/span> <span data-preserver-spaces=\"true\">What <\/span><em><span data-preserver-spaces=\"true\">is <\/span><\/em><span data-preserver-spaces=\"true\">my<\/span><span data-preserver-spaces=\"true\"> business is<\/span><span data-preserver-spaces=\"true\"> my growing investment accounts, my very healthy savings account, and the low maintenance requirements for my specific car choice.<\/span><span data-preserver-spaces=\"true\">&nbsp;<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">I am not here to shame anyone, but <\/span><span data-preserver-spaces=\"true\">maybe<\/span><span data-preserver-spaces=\"true\"> help you make a few wise choices <\/span><span data-preserver-spaces=\"true\">when it comes to<\/span><span data-preserver-spaces=\"true\"> car buying.<\/span><span data-preserver-spaces=\"true\"> Getting a new car is something we will probably do only a handful of times in our lives, so there isn\u2019t <\/span><span data-preserver-spaces=\"true\">really<\/span><span data-preserver-spaces=\"true\"> a chance to get <\/span><em><span data-preserver-spaces=\"true\">good<\/span><\/em><span data-preserver-spaces=\"true\"> at it.&nbsp;<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">I recently <\/span><span data-preserver-spaces=\"true\">did a search<\/span><span data-preserver-spaces=\"true\"> to see if the age-old advice of buying a $5,000 beater was still relevant. Surprise! It wasn\u2019t. I am 99% sure every car on FB Marketplace under $5K was <\/span><span data-preserver-spaces=\"true\">either<\/span><span data-preserver-spaces=\"true\"> stolen or totaled.&nbsp;<\/span><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span data-preserver-spaces=\"true\">Getting Through the Car-Buying Process<\/span><\/h2>\n\n\n\n<p><span data-preserver-spaces=\"true\">So, what <\/span><span data-preserver-spaces=\"true\">is one to<\/span><span data-preserver-spaces=\"true\"> do if they are focusing on paying down debt and can\u2019t take on a large car payment? Here are some ways to negotiate during the car-buying process:&nbsp;<\/span><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><span data-preserver-spaces=\"true\">First things first: Do you even need a new car? If you do, do you need the make\/model of the <\/span><span data-preserver-spaces=\"true\">car<\/span><span data-preserver-spaces=\"true\"> you are looking at, or can your life be just as fulfilling with a different <\/span><span data-preserver-spaces=\"true\">car<\/span><span data-preserver-spaces=\"true\"> or <\/span><span data-preserver-spaces=\"true\">different<\/span><span data-preserver-spaces=\"true\"> features?\u00a0<\/span><\/li>\n\n\n\n<li><span data-preserver-spaces=\"true\">If you are buying a used car, get it inspected! An auto shop will do a once-over for you for about $100 &#8211; $150. I have done this, and it gave me great peace of mind.\u00a0<\/span><\/li>\n\n\n\n<li><span data-preserver-spaces=\"true\">Negotiate on the total price of the car, not the monthly payments. <\/span><span data-preserver-spaces=\"true\">Monthly payments can easily be manipulated<\/span><span data-preserver-spaces=\"true\"> based on the length of the loan, which can add thousands of dollars to the final price.\u00a0<\/span><\/li>\n\n\n\n<li><span data-preserver-spaces=\"true\">Interest rates vary based on where you get them. Check major banks, credit unions, and financing at the dealership. Some dealerships will lower the total car price if you get financing through them. <\/span><span data-preserver-spaces=\"true\">If you <\/span><span data-preserver-spaces=\"true\">are planning<\/span><span data-preserver-spaces=\"true\"> on paying with cash, <\/span><span data-preserver-spaces=\"true\">something to consider is getting financing and then<\/span><span data-preserver-spaces=\"true\"> paying in cash afterward (always check your contract terms).<\/span><span data-preserver-spaces=\"true\">\u00a0<\/span><\/li>\n\n\n\n<li><span data-preserver-spaces=\"true\">Email dealerships asking what their out-the-door pricing is on the make\/model you are looking for. Then, email that price to the other dealers in the area until you get the lowest price <\/span><span data-preserver-spaces=\"true\">that one<\/span><span data-preserver-spaces=\"true\"> is willing to offer.\u00a0<\/span><\/li>\n\n\n\n<li><span data-preserver-spaces=\"true\">Don\u2019t walk into a dealership until you have lined up all the above. <\/span><span data-preserver-spaces=\"true\">Walking into dealerships can <\/span><span data-preserver-spaces=\"true\">make you excited<\/span><span data-preserver-spaces=\"true\"> (aka emotional), and <\/span><span data-preserver-spaces=\"true\">it is possible you will<\/span><span data-preserver-spaces=\"true\"> walk out with a car <\/span><span data-preserver-spaces=\"true\">that<\/span><span data-preserver-spaces=\"true\"> you didn\u2019t intend to buy, with terms you didn\u2019t negotiate.<\/span><span data-preserver-spaces=\"true\">\u00a0<\/span><\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span data-preserver-spaces=\"true\">Final Thoughts<\/span><\/h2>\n\n\n\n<p><span data-preserver-spaces=\"true\">Though I will probably secretly judge you for your car choice (I have my preferences\u2014we all do), I will rest easy knowing you got the lowest price <\/span><span data-preserver-spaces=\"true\">you could<\/span><span data-preserver-spaces=\"true\">. I don\u2019t know if tariffs will come into play or if prices will rise (again), but I do know that the best time to buy a car is when you <\/span><span data-preserver-spaces=\"true\">actually<\/span><span data-preserver-spaces=\"true\"> need one, not when you want one.<\/span><\/p>\n\n\n\n<div id=\"hero-block_62df1a82bfc88\" class=\"first:mt-0 hero-block py-4    has-background has-slate-200-background-color has-text-color has-theme-gold-color\">\n    <div\n        class=\" flex flex-wrap lg:flex-nowrap max-w-screen-xl mx-auto px-4 relative lg:items-center \">\n\n        <div class=\"relative z-30 w-full \">\n            <main class=\"py-4\">\n                \n\n<p class=\"has-slate-800-color has-text-color has-large-font-size\" style=\"font-style:normal;font-weight:800\">The Money Podcast<\/p>\n\n\n\n<p class=\"my-3 md:my-5 lg:my-8 has-slate-900-color has-text-color\" style=\"font-size:16px\">Kickstart your personal finance journey with Scott and Mindy as they break down the good, bad, and ugly of people\u2019s personal money stories. From interviews with entrepreneurs and business owners to breakdowns of listener finances, you\u2019ll get actionable advice on how to get out of debt and grow your money.<\/p>\n\n\n\n<div id=button-custom-event-block_65400b52d0a76 class='button-custom-event'>\n      <a href=\"https:\/\/link.chtbl.com\/Money\" x-on:click=\"window.analytics.track(&#039;Money Podcast Blog CTA Click&#039;, {\n      referrer: &#039;https:\/\/www.biggerpockets.com\/blog\/will-tariffs-change-the-way-you-buy-cars&#039;,\n    });\" class=\" btn-shape inline-block no-underline has-background has-theme-slate-dark-background-color has-text-color has-white-color\" target=\"_blank\" rel=\"noopener\">Listen Now<\/a>\n  <\/div>\n\n            <\/main>\n        <\/div>\n\n                <div class=\" first:mt-0 relative h-full lg:flex lg:items-center\">\n            <img decoding=\"async\" class=\"object-cover w-full relative z-20 my-0  shadow-xl rounded-md hidden lg:block\" src=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2021\/12\/BP_Money_podcast_square-1024x1024-1-e1660861377128.jpeg\" alt=\"\" title=\"\">\n        <\/div>\n            <\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>Cars are a big source of contention in the finance world. It is very easy to make judgments about someone (and their financial situation) based on what they drive, even [&hellip;]<\/p>\n","protected":false},"author":613772,"featured_media":182334,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[7385],"tags":[],"class_list":["post-182331","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-wealth-management"],"acf":[],"comment_count":0,"_links":{"self":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/posts\/182331","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/users\/613772"}],"replies":[{"embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/comments?post=182331"}],"version-history":[{"count":0,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/posts\/182331\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/media\/182334"}],"wp:attachment":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/media?parent=182331"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/categories?post=182331"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/tags?post=182331"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}