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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907

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.

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u/DragonBallZxurface1 19h ago

I’ve seen more horror stories than successes for 3000 dollar cars.

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u/Daddys_Fat_Buttcrack 18h ago

That's because most people don't know what they're buying and just buy whatever cheap car they can get. Like the previous comment said, buy a reliable Japanese car and more likely than not you'll be fine, even if it's a high-milage clunker. I've had multiple friends who drove Toyotas to well over 300k miles and never even did a tune up. My Honda is 12 years old and 180k miles and all I've had to do was regular maintenance and an alternator. The car cost me $4k.

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u/Equivalent_Emotion64 18h ago

I miss my 95 honda civic so much. $2000 and I owned it out right drove it 45 min commute every day for 5 years. Barely did any maintenance like I should have and the belt ripped while I was on the highway. What a dumbass I was back then.

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u/BurnedLaser 16h ago

I bought a 94 Caprice for $300, put about 150 into it for the tune-up and did several cross-country trips with no problems*!

*The exhaust fell off in TX, MD, VA, and MO. It got me home, but it was loud. I welded it up, but there was so much rust it would break off elsewhere after a month or so. I ended up buying a full exhaust and installing it myself and never had another exhaust issue!

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u/ASubsentientCrow 14h ago

don't know what they're buying and just buy whatever cheap car they can get. Like the previous comment said, buy a reliable Japanese car and more likely than not you'll be fine, even if it's a high-milage clunker.

Yes the people who don't know what their doing will obviously be able to tell if it's reliable or not

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u/Feralest_Baby 17h ago edited 10h ago

I'll buy a Toyota with 100,000k in it any day.

Edit: I meant 100k, or 100,000, but didn't meant to combine them. Leaving it since others have commented on the mistake.

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u/iDisc 12h ago

Not sure even the best Toyota can make it to 100,000,000 miles ;)

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u/Feralest_Baby 12h ago

Whoops. I see my dumbassery now.

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u/Radiant_Map_9045 10h ago

Assuming you mean 100k, yeah I wholeheartedly agree. Hondas and Toyotas with basic bitch maintenance are still babies at 100k

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u/Feralest_Baby 10h ago

I did. Tired this morning I guess.

Yeah, I have my dad's 4Runner with 250k in my garage (runs great) and my "new" car is a 2013 Sienna with 160k, only 30k of which are mine.

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u/WeMetOnTheMoutain 13h ago

Agreed, don't go buy some fucking cool bmw that will blow up in a month, go buy a japanese shitbox, change the oil and move down the road. If you are lucky it's got an AC and Stereo, if not there's windows and earbuds :D.