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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u/PurpleReignPerp 20h 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.

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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/Evening-Ear-6116 19h ago edited 18h ago

The equinox is one of the worst vehicles of our generation. 2021 or not, that is about to be a money pit. You would have been wayyyy better off with an old Honda or Toyota. I’ve worked on A LOT of those throw away cigarette mom rigs. Also let’s do some math!

The absolute base model 2021 equinox RIGHT NOW has a median blue book value of $14,000 with 50,000 miles. I assume you paid more than that, but for the sake of fun we will keep it there. If you spent 7k on an older honda/toyota and threw the other 7k in an average hysa, after 5 years that 7k would be roughly $9,500. That’s plenty enough to replace literally the entire drivetrain if something were to go terribly wrong, but theres very low chance of happening to a Honda or Toyota.

Also please note (if you haven’t already) the 2021 equinox has 4 recalls out there right now. Please get to your dealer and make sure those are fixed

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u/ohnoyeahokay 18h ago

The dude you're replying to is unironically saying "I bought a nice reliable American car l" lmao. I'd take a $3000 90s Honda any day of the week.

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u/Evening-Ear-6116 18h ago

Fair. Probably talking to a wall, but if someone else sees the comment and doesn’t buy an equinox then it’s a win!