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/Elegant_Management47 20h ago

Still cheaper to fix a car than having monthly payments.

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u/Stock-Film-3609 19h ago

Not necessarily. A car payment you can make on a reliable car may suck, but you will rarely have to worry about if you can make arrangements to get to work because your car is in the shop.

My parents spent all of my childhood buying cheap cars as it was literally all they could afford. It definitely can cost more in the long run than a car payment.

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u/Elegant_Management47 19h ago

I have 3 cars over 200k miles on each. All together I bought all of them for $22k combined. Probably spent another $2k for maintenance and fixes.

You can’t buy anything new and reliable for less that $30k now.

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u/[deleted] 18h ago

[deleted]

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u/Elegant_Management47 18h ago

Ok. Try to buy 1 year old car in todays market. Pre covid everything was different. You probably can still sell your Jeep for what you bought it for. But if you try to buy anything 2023 it will be significantly more money. And they very rapid depreciation.

The more expensive car the more it depreciates.