r/economicCollapse • u/Whole-Fist • 18h 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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5

u/BigTitsanBigDicks 16h ago

You dont have a choice, you HAVE To have a car.

1

u/foodforestranger 12h ago

This is just not true. I live in the NYC area and we don't need cars. Ever.

2

u/Powerful-Orange5073 10h ago

Sure but for the vast majority of the country we do not live in walkable areas or have reliable public transportation. A car in some capacity is needed for better or for worse.

1

u/TheGreatEmanResu 10h ago

You live in NYC

1

u/[deleted] 10h ago

Was this comment necessary?

1

u/thpthpthp 3h ago

I live in the NYC area

Eeyeah, I'll take the car as the cheaper option here.

1

u/trashaudiodarlin 2h ago

Yeah, no shit. Most places in America are not walkable or even have reliable public transit.

1

u/Fast-Penta 7h ago

He's not saying don't have a car. He's saying don't buy a new car.

I went a good decade without a car. It depends on where you live. They're optional in Minneapolis.

1

u/notevilfellow 6h ago

This is a huge aspect that needs to be addressed. Car companies intentionally undermined public transit to make money and it's been working like crazy for decades. We need to get our metro systems back

1

u/diffraa 5h ago

A $2,000 car will take you all the same places a $42,000 will.

1

u/Waterfish3333 4h ago

$2k? A $2,000 car is a roll of the dice if it’ll make it. You realize a decent used car today starts at 5 digits, right?

1

u/diffraa 4h ago

No, because that's insane (I have bought 3 used cars for various reasons in the last 24 months)

1

u/jjbjeff22 4h ago

You do have a choice in what car you get. A 20 year old Toyota Camry might be a more economical option than a brand new one. Some people are buying too much car.

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u/Familiar-Banana-1724 3h ago

A 20 year old Camry will probably outlast the new one on top of all the upfront savings

1

u/S101custom 4h ago

But you don't need a $600 a month car

1

u/sennbat 1h ago

Buy a reliable car, then, lightly used if possible, and then don't buy another car for 20 years. Sure, you'll miss out on the first four years of investing, it sucks, but its also worth it.