Tariffs are driving prices up — hold off on big purchases for now - video Dailymotion

As tariffs drive up costs, rushing into big-ticket purchases could leave you overpaying.

Transcript

00:00It's important to look past the daily tariff headlines.

00:03You want to make sure that you're thinking about the long term.

00:07For example, we believe that car prices are going to go higher.

00:10That doesn't necessarily mean you should rush out and buy a car right now, though, because

00:14the average monthly car payment for a new car is about $750 a month.

00:19And while that could be going up, you know what's even better is a $0 a month car payment.

00:24So if you can drive your existing car another year or two, rather than rushing into a purchase

00:29that you might regret, because what if you end up overspending or what if tariffs don't

00:33do what we think they're going to do?

00:36Maybe you rush to buy now and you don't even get the car you want and you're stuck with

00:39this high price tag.

00:41You want to think about the long term.

00:43That's true for your investments, but it's also true for purchasing decisions.

00:47I mean, honestly, it's probably not the best time to make a big ticket purchase and a lot

00:51of people are nervous.

00:53But then again, if it fits your long term plan and you have the money and you're not going

00:57into debt, well, then maybe that's fine.

00:59But don't rush to go into debt now because something may or may not happen in the future.