The Clark Howard Podcast
12.11.24 Tariffs And Car Prices / Store-Branded Credit Cards
Dec 11, 2024
Discover how rising tariffs could lead to soaring car prices and whether now's the time to buy. Clark shares insights into store-branded credit cards, warning against their high-interest pitfalls and labeling them as 'junk credit.' Listeners also hear heartwarming stories of credit score triumphs and practical tips for navigating the holiday shopping season. Plus, get advice on tackling high rental car rates for holiday travels. Tune in for valuable financial wisdom!
32:21
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Quick takeaways
- Tariffs can significantly raise car prices and consumer costs, so it's essential to evaluate the urgency of purchasing before inflation occurs.
- Store credit cards carry extremely high interest rates, often negating discounts, making them a detrimental financial decision for consumers.
Deep dives
Understanding Tariffs and Their Economic Impact
The discussion on tariffs highlights their potential negative impact on both the economy and consumers. Tariffs are essentially taxes that increase the cost of goods for consumers, which can lead to higher prices, making everyday purchases more expensive. Historical evidence from the 1930s illustrates how widespread tariffs can harm economic growth and disrupt international trade. While some tariffs may be imposed, the actual consequences are often exaggerated, and consumers should cautiously evaluate the claims pushing imminent purchases due to supposed price hikes.
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