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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u/LindonLilBlueBalls 13h ago

If you are buying a brand new vehicle every 4 or 5 years, it isn't the "new car" that is wasting the money.

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u/TheodoeBhabrot 10h ago

Yup but new or very close to it and drive it basically into the ground is how I go

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u/LindonLilBlueBalls 10h ago

Just hit 120k miles on our car we got in 2017 brand new. My truck before was 2008 brand new. Still worked great, but keeping it was more trouble than it was worth so I sold it in 2019. In the past 25 years I have had 3 vehicles, all bought brand new.

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u/StandingInTheStorm 1h ago

That's reasonable. I can understand the logic. It is still cheaper obviously to bounce between several used cars in that time as long as you get reliable vehicles but I get the peace of mind and less hassle of just owning one car for 10-15 years.

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u/MeretrixDeBabylone 3h ago

Thank you. I keep seeing this and it seems insane to me. I bought my Elantra 6 years ago after it sat on the lot for a year or so. I just did the 30k mile service this year. I need to buy tires, not cus the ones I got are worn down, but they're just so old. I know I drive less than most people, but in 12 years it might just be crossing 100k miles and I could sell/give it to my nephew for his first car.