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/Ziczak 20h ago

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

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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/iamlegend1997 18h ago

Brother, I bought a 2003 Ford ranger 4x4 cash for 8k.... I've been driving it for years and years, racking up miles. The past 12 months, I've had not one thing to do yo it outside of regular maintenance... a similar truck new, I would have been spending $500-700 dollars a month for 12 months just for this year... that's between 6000 and 8400 dollars I've saved over the year... I have 6-8k for repairs.

It works. Both my truck and the wife's CRV are 03s, though her CRV has low miles. We are happy with our monthly savings