Financial Planning Tip July 2025

Thinking of buying a car? Right now may be your best opportunity for a while. New car prices are expected to rise by an average of 15%, if and when the tariffs kick in. Of course, we don’t have perfect visibility into our mercurial leader’s tariff policy. This seems to change minute by minute. But right now it looks like vehicle tariffs may be a reality for the next few years. Of all the on-again-off-again tariffs, these seem to be the most likely to stick. There was a surge of car buying in April, but growth has slowed recently, which might mean car dealers will offer more incentives to move vehicles. Whether you are in the market for a new or new-to-you car, there’s a good chance that buying now will save you money. The attached graphic shows the expected inflation for various makes of new vehicles from the current tariff structure.