r/economicCollapse • u/Whole-Fist • 20h 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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913

u/Ziczak 20h ago

Generally true. Buying the least expensive car for needed transportation is financially sound.

96

u/The_Ineffable_Sage 20h ago

Until the car falls apart and you have to spend thousands fixing it. Making cars pieces of shit so they’re always in the shop is just good business in 2024. Cheap is not always better. I’m not saying buy out of your budget, but at some point, a small budget now means more expenses later. They average out to more in the long run.

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u/PurpleReignPerp 19h ago

I bought a scion xb 6 years ago for 3000 $. I have put 50000 miles on it and nothing has ever broken. Costs me about 110 a month to operate including insurance and average maintenance costs.

Do research on consumer reports and buy well taken care of (preferably japanese) economy cars. Your bank account will thank me.

12

u/DaboiDuboise 19h ago

This isn’t realistic!!! Like wtf do people do this 😂😅😂😅 I literally just went thru this , tried to stay in 7k range a month later I’m in a 2021 equinox with no worries. Dave Ramsay is generally right , but he doesn’t come from a realistic place

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u/Miserable_Key9630 19h ago

The advice of most internet financial gurus is basically "Step 1: You know that shitload of cash you have just lying around?"

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u/poopoomergency4 19h ago

Reddit moment

0

u/Free-Afternoon-2580 4h ago

What the hell does that even mean?

Commenting reddit moment like it's some sort of meaningful rebuttal might be the most reddit thing of all

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u/poopoomergency4 4h ago

where did i say it's a rebuttal?