President Donald Trump’s auto tariffs went into effect Thursday. The 25% tariffs apply to imported cars to the U.S. and Trump also plans to extend the tariffs to cover car parts, which likely will increase the cost of repairs and insurance. These tariffs are also expected to extend to applicable auto parts in the coming weeks, through May 3.

President Trump says the tariffs will encourage investment in U.S. factories, but analysts say car buyers will have to pay thousands more.

Analysts estimate President Trump’s auto tariffs could raise the cost of a vehicle by thousands of dollars. Ballpark calculations based on current monthly auto-loan payments and an average American’s income show how that would test U.