If you think car buying hasgotten crazy expensive,youre not imagining things.
Of course, that price is an average some cars cost much more, and some cost significantly less.
Savvy car buyers can prioritize economy models to save money.
Well take a look below, but fasten your seat belt first.
Dont give up on saving up just yet we have some suggestions.
Whats Causing Car Prices to Increase in 2025?
These factors have led to production delays, reduced inventory, and higher manufacturing costs.
Douglas believes supply chains may stabilize this year, but that doesnt mean car prices will stop climbing.
Drowning in Expenses?
Maybe youre scrambling after your car broke down.
Or you got a medical bill you werent expecting.
Or inflation has finally pushed your budget over the edge.
You dont need to go it alone.
When money is tight,these resourcescan help you manage unexpected expenses without stress.
Another big factor is tariffs on imported cars and imported car parts.
President Donald Trump has put in place 25% tariffs onforeign-made cars and parts.
How Are High Car Prices Impacting Auto Loans?
That makes cars even more expensive, because thats additional time borrowers are paying interest.
Opting for a longer loan term may seem attractive when you consider yourmonthly budget.
However, you should consider pulling some other levers to lower costs before opting for a lengthy car loan.
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Millions of Americans ignorethese easy tipsthat could have you padding your wallet in no time.
But used cars can be complicated.
But a certified pre-owned (CPO) vehicle is a nice in-between.
But theres another time to consider buying, according to Douglas.
At the end of a model year.
(Note: This is different from the end of a calendar year.)
Do Your Due Diligence
A little bit of research can go a long way.
Dont forget to factor in manufacturer incentives, special financing offers and rebates.
Use thiscar comparison spreadsheetto get started.
Focus on the total cost of ownership, including fuel efficiency and maintenance, Douglas added.
Also take the time tocheck your credit score.
Youll get the best interest rates on a car loan if your credit score is 800 or higher.
you’re free to also research negotiation tactics for buying a car.
Going into the dealership feeling confident about how youll steer the conversation can make all the difference.
You brew coffee at home, you dont walk into Target and you refuse to order avocado toast.
(Can you sense my millennial sarcasm there?)
Hes covered autos for 12 years and finance for the last seven years.
