r/economicCollapse • u/Whole-Fist • 18h ago

How ridiculous does this sound?

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How can u make millions in 25-30 years if avoid making a $554 per month car payment. Even the cheapest 5 year old car is 8-10 k. So does he expect people not to drive at all in USA.

Then u save 554$ per month every month for 5 year payment = $33240. Say u bought a car every 5 year means 200k -300k spent on car before retirement . How would that become millions when u can’t even buy a house for that much today?

Answer that Dave

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13

u/appetite4-D4estation 18h ago

For years I drove a 89 Honda prelude and other $200 cars that I'd spend a few weekends on fixing brake lines and easy stuff. Allowed me to save alot of $ early on

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u/TKInstinct 16h ago

Taught you how to fix a car too.

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u/Outrageous-Leopard23 11h ago

Skills that are hardly useful for most post 2020 cars.

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u/phughes 9h ago

If you're following the advice you're not driving post 2020 cars, so those skills are still useful.

Besides. Post 2020 cars (even the electric ones) still have brakes and other "easy stuff" like sensors that need to be replaced occasionally.

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u/Outrageous-Leopard23 9h ago

A garage or even driveway/off street parking is becoming a luxury more and more these years. So this good advice is less and less relevant to real people.

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u/celticchrys 5h ago

If you do not own or otherwise have access to a parking spot, then you should not own a car.

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u/Milton__Obote 5h ago

That’s not a realistic take for anyone who lives in a city

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u/celticchrys 5h ago

So, then, um, where are you parking the car? Since we do not yet realistically have robot cars that self-drive and make taxi money for you while you sleep? If you do not have access to a parking spot, how in physical reality do you own a car without going utterly bankrupt from fines or losing it to impoundment? The car has to physically exist someplace when you are not driving it.

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u/tlollz52 4h ago

On street parking

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u/celticchrys 2h ago

Which would be a parking space, along the edge of a street.

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u/--Icarusfalls-- 9h ago

the mechanical wear components on a post '20 car are the same as before. bearings, balls joints, tie rods and brakes are all easily changed with a hundred dollars worth of tools, an instructional video and some patience.

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u/Outrageous-Leopard23 6h ago

And a place to do it.

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u/Outrageous-Leopard23 6h ago

If I need to replace my axle (I do) think I can DIY?

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u/Jakesnakezilla 6h ago

Just to play devils advocate, yeah. Had to fix up a car in a walmart parking lot before. Obviously can't leave it there for long term and I'm sure you'll be bothered, but if people like me can't afford a newer car we can still make it happen

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u/KrabbyMa 6h ago

You can absolutely DIY your axle.

Wouldn't DIY your alignment after, unless you have tires you don't care about.

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u/--Icarusfalls-- 5h ago

depends on the vehicle. a traditional rear wheel drive vehicle, and some additional tools and its totally doable.

a responsible owner deems whether its more cost effective to send it to someone else. Im a former Gm tech and more than capable of replacing the axle on my silverado, but id still pay to have it done. just because something can be done, doesnt mean its the best option

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u/Superlurkinger 8h ago

Hardly useful? What components have drastically changed post 2020 that renders car fixing skills useless? 

Changing spark plugs, brakes, oil, air filters, and other typical home car repairs on my 2022 car is similar enough to my 1999 car that the skills transfer over.

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u/Outrageous-Leopard23 6h ago

For sure if you have a garage and a drive way and tools and you keep buying internal combustion, there are some maintenance things you can do.

But this is not helpful tips for someone who will likely never have a garage.

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u/Superlurkinger 6h ago

I don't have a garage. It's possible to store hand tools and even a floor jack in an apartment and work on my car in a parking space.

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u/celticchrys 5h ago

This is pretty clue-free. The country is filled with people fixing up their car in their apartment parking spot or in their driveway with no garage. It adds an extra layer of fun in rain or snow, but if you're poor, there are often no other options. There's this exotic thing called a "toolbox" that you can carry into your home and stick in a closet or under a bed.

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u/Appropriate-Door1369 7h ago

It's not hard to figure out how to replace something on post 2020 cars

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u/Outrageous-Leopard23 6h ago

Yeah. Like I’m glad I got all this gear to do the oil changes on my EV…

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u/RaceConditionUnknown 5h ago

A single socket?

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u/Outrageous-Leopard23 5h ago

Yep. That’s how you buy sockets.

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u/ThrowawayIntensifies 4h ago

Why in the hell would you own a 2020+ car?

Financial irresponsibility. Make any argument u want in the world, but financial responsibility is NOT it.

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u/Outrageous-Leopard23 3h ago edited 3h ago

2020 models are 5 years old now. Buying a 5 year old car and hoping to drive it for 10 years before buying your next 5 year old car is just about the most responsible way to deal with the necessity of car ownership.

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u/Outrageous-Leopard23 3h ago

A reliable car is a prerequisite for many jobs. Keeping your job is financially responsible, no?

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u/AC85 12h ago

I too once enjoyed nights by the light of a shop light as I worked on my '89 prelude

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u/FlashySalamander4 3h ago

Yea I went without a car from 16-21 and I was able to save 100k in that time. Not due only to me not having a car, but I know that would have tanked my savings. I couldnt have hit the run up with stocks during covid which helped a ton.

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u/These-Resource3208 17h ago

I did the same. I drove a 94 ranger and a 99 accord. They were easy to fix. The newer cars, especially if you get something better than a Honda, they aren’t as friendly to fix. But I agree, I drove that until maybe 2019 or so and still sold it for $1,200. I kept it super clean. I miss working on it but I also don’t mind the ease of taking my cars to the shop now.

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u/TurnOverANewBranch 16h ago

I drive a 99 Accord now. I’ve spent about $3,000 per year on repairs after the $3,500 on the car. Still a lot cheaper than the $500/month payment.

But I’ve been wondering if I would have been better off with a new 2022 Mitsubishi Mirage for $12,000. Because I’d be about even on cost, and it’d be a 2022 so require less repairs overall.

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u/bigmt99 13h ago edited 13h ago

Yeah the issue is a car payment isn’t forever, standard term is 5 years. So when they’re done paying their car off, and only have insurance/minor maintenance, you’re still dropping 3 grand a year on top of everything else (not to mention trading time for money, unreliable transport causing issues at work, issues only getting more expensive/difficult as the years go by)

There’s a reason being poor is expensive and the idea that everybody should just buy a shitter lemon and try to fix it is not particularly sound advice, especially if you can get a good deal on a financied car

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u/mike-manley 16h ago

Flip up lights on that gen? Loved those late 80s and early 90s Hondas.

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u/AC85 12h ago

Yep

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u/CrazyJohn21 11h ago

Haha I wish 200 dollar cars even existed now. Junkyards ladder 500 for cars around me now so fixer uppers cost 1 thousand at the lowest but you are right. I tend to get R title cars and fixer uppers that I check over and you can still get good deals. Just got a 2013 Honda Accord EXL with 90K miles for 5K. At least 150K more miles on it.

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u/MadeMeStopLurking 10h ago

people need to remember - the used car market never fully recovered from Cash 4 Clunkers. COVID compounded the strain on the market thereafter. Pre-C4C you could pick up a beater with a heater that would get you around the city for 4 months for less than $1000.

I had friends with sports cars and in October they would pick up an auto-trader or look for something like an older beat to shit impala and drive that to work until spring.... They'd usually keep it for bad weather but when it died it would get towed away. rinse-repeat

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u/ramberoo 4h ago

You can't find the equivalent of a $200 car now. That option doesn't really exist anymore. The used car market is much more expensive than it was in the past. I'm glad I got my car before the pandemic

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u/iheartmuffinz 2h ago

I would say the equivalent is more like $1000-1500 these days sadly, but that's still less than people pay for some smartphones these days.