Buy now or wait? New tariffs could raise prices on cars, homes and electronics

LINCOLN, Neb. (KLKN) – Major questions are swirling for consumers about the possibility of higher price tags.

From smartphones to SUVs, prices on high end items could be going up due to the new tariffs on imported goods and materials.

“A lot of these tariffs that are being imposed on a lot of these countries, Americans are the ones who are suffering the cost of it.” Freelance videographer, Riek Bol said.

For home buyers, it could mean higher prices for new builds.

Car shoppers may also feel the impact, but general manager of Alan Auto Sales, Alan Alzaidawi, said the timing is tricky.

“Most of the car brands will see big increases, European models like Audis, BMWs, Mercedes,” he said, “Ford as well because Ford manufactures are in Mexico, so they will have big time increases in their prices.”

Alzaidawi also said parts for a car, like an engine, being shipped from overseas could cause the total value of a car to go from $19,000 to $22,000 alone.

According to Fortune Magazine, Ford is offering employee pricing to all U.S. customers for the next two months because of the auto tariffs.

When it comes to electronics, high prices could start creeping in.

“I’m the one paying more than I should have because of these tariffs being imposed,” Bol said. “When it comes to me trying to buy a camera or trying to buy lens or any piece of gear, I’m the one paying more because these tariffs are put in place.”

So, what’s the bottom line?

If you’re buying a car or electronics, Alzaidawi said acting now could save you some money down the road.

“I think it’s a good idea to buy car right now because you’re not going to know what happens in the market,” he said.