Increased tariffs have made many Americans shy about making big purchases — such as a new car — afraid they may become unaffordable.
Learn More: Mechanics Explain Why You Should Never Buy These 6 Popular Car Brands
Try This: 12 SUVs With the Most Reliable Engines
While tariffs will undoubtedly impact the cost of new cars, particularly those made overseas or that include components made outside of the U.S., it doesn’t mean all hope is lost for finding a deal.
Car experts explained how to save on a new car this summer, even if tariffs drive prices higher.
Know When To Purchase
Regardless of tariffs, there are prime opportunities to buy a new vehicle, according to Tony Burns, auto repair expert and ASE (Automotive Service Excellence) master certified technician of Lakeview Automotive. He said the last two days of the month, holiday weekends, and the change-over to the new model year in August are good starters.
“Sales managers still have volume bonuses tied to those dates, so they’ll trade margin for a unit sold,” he explained.
The holidays when dealerships are most likely to offer the biggest discounts include Memorial Day, Independence Day and Labor Day, according to Patrick Peterson, auto expert and team lead at Goodcar.com
“If you’re flexible, waiting for these windows can lead to real savings even in a high-priced market,” he said.
Check Out: Would Warren Buffett Finance a New Car? Here’s What He’d Say About a Big Auto Purchase
Take These Steps in Advance
Before you even step foot in a dealership, start by checking your credit score and getting pre-approved through a credit union or bank, Peterson recommended. “This helps you compare rates and avoid overpaying through dealer financing,” he said.
Try These Financing Tactics
With a pre-approval in hand, Burns said you can negotiate longer terms at a better rate. “If the captive lender is dangling 0.9 % on a 36-month term, grab it and add a couple thousand extra to your down payment; it saves more than stretching to 72 months at a higher rate.”
Additionally, he urged buyers to negotiate “the out-the-door price” before you talk financing.
Manufacturer Loan Offers and Promotions
Another tip is to look for special loan offers from manufacturers, such as low-interest promotions, loyalty or conquest bonuses (if you switch brands), and military or student discounts, Peterson said.
“Some dealer incentives aren’t publicly advertised, so it’s always smart to ask directly if there are any current offers based on your situation or ZIP code,” he noted. “These extras can add up to thousands in savings.”