Should You Buy a Car Before Tariffs?
Be Wealthy & Smart
Linda P. Jones
4.8 • 883 Ratings
🗓️ 18 April 2025
⏱️ 7 minutes
🧾️ Download transcript
Summary
Discover if you should buy a car before tariffs.
Are you on track for financial freedom...or not?
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If you invested well for the long-term, what a difference it would make because the difference between investing $100k and earning 5 percent or 10 percent on your money over 30 years, is the difference between it growing to $432,194 or $1,744,940, an increase of over $1.3 million dollars.
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Transcript
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| 0:00.0 | Be Wealthy and Smart, episode 1495. |
| 0:03.8 | I'm going to live a rich life, full than best life, yes life, so if you all know what I mean, put your hands up and declare with me, yeah, I'm full of bread, ha, ha, ha, ha, ha. Step into a world of good life. |
| 0:21.6 | A beautiful and glorious life. |
| 0:25.6 | Step into a world of wealth and financial freedom without budgets, boredom, or bosses on Be Wealthy and Smart. |
| 0:34.6 | And now, here's your host, Linda P. Jones. Welcome to be wealthy and smart. I'm Linda P. Jones, |
| 0:41.3 | America's wealth mentor, empowering women and men worldwide to financial freedom. On today's show, |
| 0:46.7 | we're going to ask, should you buy a car before tariffs? Now, there's a lot of data and things |
| 0:52.4 | that go into answering this question. |
| 1:02.2 | So what I'm going to do is refer to an article on Kiplingers who researched this and share this with you. |
| 1:04.5 | The article was written by Jim Patterson. |
| 1:12.7 | And it says, few industries are more exposed to the new tariffs being imposed by the Trump administration than the car industry. |
| 1:19.9 | And for car shoppers, that vulnerability spells higher prices and leaner inventories of cars on dealer lots. |
| 1:29.7 | To understand the impact of tariffs on car manufacturing, it's important to realize that there's no such thing as a truly American car. Four GM in the U.S. brands under the Stalantus umbrella, such as Jeep, RAM, and Dodge, assemble many, but not all of their |
| 1:37.5 | vehicles in U.S. plants. GM, for instance, imports many of its popular Silverado pickup trucks from Mexico, and even cars |
| 1:45.8 | assembled in, say, Michigan, are full of parts of materials that originated outside of the |
| 1:50.7 | U.S. Likewise, many Asian and European brands assemble vehicles in the U.S., particularly |
| 1:57.0 | in plants located in the south, but again, they rely on a complicated mix of domestic |
| 2:02.4 | and imported parts of materials. Some automotive parts cross a border multiple times before |
| 2:08.3 | ending up in a fully assembled car that's ready to hit a dealer's showroom. President Trump's |
| 2:13.1 | new 25% tariffs on auto imports, including imported parts that don't comply with the rules of the U.S.-Canada-Mexico |
| 2:20.6 | trade pact, he negotiated in his first term, are already starting to raise prices on cars for sale |
| 2:26.4 | on lots now, according to anecdotal accounts. Other tariffs, such as those on imported steel and |
... |
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