Car buying used to be exciting. You’d stroll the lot, test drive a few options, grab a cup of bad coffee, and negotiate your way into something new (or at least new-to-you). But lately? It’s a little more complicated. With high sticker prices, fluctuating interest rates, limited inventory, and now the looming impact of new tariffs on Chinese-made electric vehicles, many would-be buyers are asking: Is it even worth shopping for a car right now?
The State of the Lot
Car prices, both new and used, are still higher than pre-pandemic levels. Although production has improved since 2020, supply chain issues and inflation have left a lasting impact. Add in potential tariffs, and we could see further price hikes—especially for electric vehicles or vehicles with imported parts.
Trade-In Values are Still Holding Strong
One silver lining: if you’re trading in a vehicle, you may get more than expected. Used car values remain elevated, which can help offset the cost of a new or certified pre-owned car.
What to do: Get a few trade-in quotes, even if you’re just browsing. It’s free, and it helps you understand your position before walking onto a lot.
Interest Rates=A Key Factor
The rate you get can dramatically affect your monthly payment. National rates have crept up, but credit unions typically offer more competitive auto loan rates than dealerships or banks.
(Nymeo's auto loan rates are designed to help members stay within budget, even in a challenging market. You can check current rates here or get pre-approved before you shop.)
Should You Wait?
It depends on your situation.
You might want to wait if:
- Your current car is running well
- You’re trying to save for a larger down payment
- You’re holding out for lower rates or EV incentives
You might want to buy now if:
- Your car is unreliable, unsafe, or costing too much in repairs
- You’re nearing the end of a lease
- You’ve been pre-approved for a rate you’re comfortable with
Buying a car in 2025 isn’t as simple as it used to be—but it’s not off the table. It just requires a little more strategy, research, and patience. If you’re considering a purchase, start by reviewing your budget, checking your credit score, and exploring financing options. Whether you buy now, six months from now, or decide to keep driving your current ride into the ground, make sure it’s the right decision for you—not the dealership. At Nymeo, we’re here to help members navigate decisions like this every day—no pressure, no fine print. Just real guidance.
Category: Credit Cards & Loans
