As tariff talk creates economic turbulence and makes its impact felt across multiple aspects of our lives, Mercedes-Benz of Silver Spring is here to help drivers and customers make sense of it all. Recent tariffs on the automotive industry are increasing costs. This will impact everything from service to new vehicle purchases, so we’re attempting to bring clarity and transparency to the big picture.
What Will Become More Expensive After Tariffs?
Tariffs on the automotive industry increase the prices of both vehicles and parts imported into the United States. For Mercedes-Benz, that includes vehicles or their component parts and systems manufactured outside the United States. While efforts are being made to cushion the blow, Mercedes-Benz may need to increase prices in some areas. Furthermore, while used vehicles are immune to tariffs’ direct effects, inventory fluctuations may also affect their availability and pricing.
How Am I Affected?
Higher auto tariffs can affect drivers in numerous ways, including:
Vehicle price increases: Both new and pre-owned models may become more expensive as importing expenses increase.
Service and maintenance costs: Sourcing genuine parts costs more with these tariffs in effect, which may increase the cost of parts and services.
Fees and taxes: Applicable fees on a loan or lease may be imposed to account for rising costs.
What Should I Do Now?
The best way to avoid rising costs associated with tariffs is to get ahead of the wave. If you’ve been holding off on your vehicle purchase for prices to go down, we recommend buying now because costs will likely increase. It’s also a good idea to order parts or schedule service you know you need now to prevent paying more for maintenance and parts.
Understanding Tariffs in Silver Spring, MD
The Mercedes-Benz of Silver Spring team is here to help you with any tariff-related questions. Contact our Silver Spring, MD Mercedes-Benz dealership today to discuss financing questions with our experts.
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