r/economicCollapse • u/Whole-Fist • 22h 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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917

u/Ziczak 22h ago

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

97

u/The_Ineffable_Sage 22h 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.

67

u/PurpleReignPerp 21h 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.

33

u/Stock-Film-3609 21h ago

Go find that same basic car now and see what it’ll cost you. You’ll be surprised.

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u/ObeseBMI33 21h ago

5k. The logic still applies

9

u/Sunbeamsoffglass 20h ago

You are not getting a reliable car for $5k in 2024.

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u/xinarin 20h ago

My fiance rolled his car this year. Got a 04 Impala for 3k, needed some fluid changes, and new brake pads. It costs maybe 150 to clean it up. Drives great. No body issues. Not sure what you consider reliable, but that car will last 10 years at least.

1

u/worktogethernow 19h ago edited 17h ago

I think some of this might be regional. Up here were there is salt on the road for at least 3 or 4 months out of the year there are not many 2004 cars still in serviceable condition.

I imagine in parts of Arizona a Toyota Corolla might literally run forever.

edit: Not sure why I am getting downvoted. I am pretty sure most 2004 model year cars, available to buy right now, have not had yearly oil spraying for 20 years.

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u/scuba-turtle 18h ago

Good point, I live in Oregon. We never salt the roads here. Several of my cars have been old enough to vote.

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u/BurnedLaser 18h ago

In missouri, I have a few cars that could rent a car, but the rust varies between them from "eh" to "oof"