Tariffs Could Raise Car Prices — Here Are 5 Ways for Buyers to Save

Used cars won’t escape price hikes, either. Their prices were already expected to increase this year because of low inventory, Moody says. They could go up even more as demand for used cars rises in response to surges in new-car prices.

5 ways to save on a car purchase in today’s market

While it’s not a buyer’s market, there are still tactics you can use to find a deal on a new or used car.

1. Act sooner than later

Experts say you should still take the time to research the cars you’re interested in and compare prices — just don't take too long. 

“If you’re already in the market for a new or used car, I would speed that process up,” Moody says. The longer you wait to buy, the more likely you’ll see price increases and inventory shortages as other car shoppers rush in.

2. Look for limited-time deals

Some auto manufacturers have responded to the tariffs on imported vehicles by offering limited-time discounts. For example, Nissan has dropped prices on its Rogue and Pathfinder models.

Ford is running a promotion that offers employee pricing on most 2024 and 2025 Ford and Lincoln models through June 2. Depending on the vehicle, buyers could save thousands with the employee discount, a Ford spokesperson says, though time is running out on the deal.

3. Be flexible

“If you’re shopping for a deal, you may not end up buying the same kind of car you had last time,” Quiroga says. You might have to settle for a different model or an entirely different brand.

Even if the type of car you want is being offered at a price you can afford, it might not be available in your preferred color or trim. So, now is the time to be open-minded when it comes to deciding what features are must-haves versus nice-to-haves.

4. Don’t expect to negotiate a deep discount

“The days of being able to walk in and negotiate five grand off the price are gone,” Barry says. Still, researching car prices can help you zero in on the best deal.

Instead of using a vehicle’s sticker price or MSRP to guide your price negotiations, see what local shoppers are paying for the specific model, Barry recommends. Consumer Reports has a Build and Buy Car Buying Service that its members can use to see what others near you are paying for the car you want. In addition, CarFax, Edmunds, Kelley Blue Book and TrueCar show how much specific cars are selling for in your area based on recent sales data. 

“The best deal is where you’re paying less than your neighbor,” Barry says. “You might be paying $2,000 more than sticker, but everyone else is paying $3,000 more.

5. Shop at multiple dealers

Prices and fees can vary significantly between dealerships, especially as tariffs impact inventories differently, Barry says. One approach: Go to the auto manufacturer’s website and search inventory for the car you want at dealerships within, say, a 50-mile radius (or more, depending on how far you’re willing to travel to get the best price), and contact multiple dealers for quotes.

Auto loan offers can also vary by dealership. According to a LendingTree survey, car buyers who shopped for loans on its auto loan comparison platform could have saved an average of $5,198 over the life of their loan by opting for the offer with the lowest interest rate versus the highest rate.

Consider sticking with the car you have

Depending on the age and condition of your vehicle, it might make financial sense to stick with the car you have and make any necessary repairs instead of purchasing a new one in this market. “If it has some life in it … we’ve found that there are a lot of cars out there that can get to 200,000 miles,” Barry says.

If your car needs repairs, get them done quickly — before the 25 percent tariff on imported parts raises prices for auto parts.