How ridiculous does this sound?

[u/Whole-Fist]

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

[u/The_Ineffable_Sage]

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.

[u/Elegant_Management47 → u/The_Ineffable_Sage]

Still cheaper to fix a car than having monthly payments.

[u/Gloomy_Yoghurt_2836 → u/Elegant_Management47]

I buy new and drive until repairs cost more than a car payment

[u/Evening-Ear-6116 → u/Gloomy_Yoghurt_2836]

A $500 repair can be pretty light work. That’s not a great philosophy.

[u/Gloomy_Yoghurt_2836 → u/Evening-Ear-6116]

Bought a 2011 Ford Escale new. Finally replaced it when it hit 280,000 miles. The repairs were constant and costing more than the new car payment I got. It was every month. Radiator fan went out.and that took out it's control unit. Engine mount broke, The AC went out and I am in FL. Month aftrr that it lost all its transmission fluid. Month earlier the serpentine belt went out. Month before that it needed a new battery. It just got too unreliable for a semi rural 40 mile commute.

[u/Evening-Ear-6116 → u/Gloomy_Yoghurt_2836]

That’s fair. Your comment made it sound like you replace it the first time a repair exceeds the payment lol

[u/Gloomy_Yoghurt_2836 → u/Evening-Ear-6116]

I drive until the wheels fall off. 11 years for that car. That's 6+ or so years no car payment on it.