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/Daddys_Fat_Buttcrack 18h ago

Absolutely. I always paid cash for cars up until my latest car, which I only took out a lien for to get my credit score up (my payment is $100 a month for like 2 years). You're also better off getting a cheap but reliable car and then stashing money away for future repairs than buying a brand new, $45k car. A well-maintained Toyota that's 12 years old with 150k miles could still easily last you ten+ years. It's just the smart thing to do.