How auto tariffs could affect the car buying process

Consumers should not race to agents to buy a car in the hope that he will wander around the president Donald Trump A new tariff on auto imports, according to the industry expert.

Brian Modi, executive editor of Autotrader, said that it is not wise because the definitions will affect each car factory to a different extent.

“It will affect different brands at different times. It will not be the same in all fields,” Moody’s told Fox Business: With uncertainty surrounding definitions, it is almost impossible for consumers and merchants to expect how to affect cars today, according to MOODY.

However, if they are on the market, he said that consumers should start search now, regardless of whether they are looking for a new or used car.

Hyundai Motor Company CEO is speaking 21 billion dollars in the United States

Vehicles used for sale in an agency in KNA, California. (David Paul Morris / Bloomberg via Getti Imachurs / Getty Pictures)

Trump, who is seen as definitions as a means of achieving tax revenues to finance his plans for tax discounts while stimulating local manufacturing activation, announced on Wednesday a 25 % tariff on all imported cars. He pointed out that this customs tariff, up from 2.5 %, was previously announced, will be in effect on April 2, when it is also expected to announce mutual tariff plans.

In his oval remarks, Trump said the definitions “will lead to the construction of many plants, in which case auto factories, and you will see numbers you did not see in terms of employment. It takes a little time, you will have great construction numbers in the beginning, then in the end you will have a lot of people who make a lot of cars.”

Hyundai to invest $ 20 billion in the United States manufacturing

Some car manufacturers have even started to announce plans to enhance local production. For example, Hyundai revealed It will put 21 billion dollars over the next few years towards enhancing manufacturing in the United States, however, auto officials have emphasized fears that the customs tariff will exacerbate the issues faced by consumers with the ability to withstand the cost of new cars in the short term, especially since auto parts are obtained all over the world.

The definitions of American commercial partners, “who are considered a necessity for our auto supply chains, will make it difficult for ordinary Americans to buy new vehicles they choose.”

Vehicles for sale in Ford’s agent in KNA, California. (David Paul Morris / Bloomberg via Getti Imachurs / Getty Pictures)

The association said that vehicles are not built or collected in 100 % locally made parts, which means that any new tariff for cars or trucks will harm all agents as well as their local communities due to the increase in vehicles prices, and planning for new vehicles and lost jobs.

Instead of customs tariffs, Tom Molly, the owner of a celebrity car in New Jersey, said that the administration should create tax incentives and low interest loans in order to motivate car companies to build plants in the United States

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“The thing that the consumer can do to arm themselves against an unknown thing is to start conducting research now and may start the operation shortly before,” said Modi.

Car mechanics are achieved from the car. (Pia Bayer / Picure Allance via Getty Images / Getty Images)

For example, if the consumer will buy this autumn car, they must start conducting research now and knowing if what they care about may be affected.

This applies to new and used cars. He said that if the prices of new cars jump, this will cause the demand for used cars, which then leads to an increase in their prices.

In addition, if the car needs repairs, Moody said it is intelligent to bring it as soon as possible. He said that the cost of repairs will also rise because the cost of determining the parts will be more expensive.