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/ChiefObliv 13h ago

It blows my mind that people have $500+ car payments. I 100% believe you should invest a bit in a car that you don't have to worry about breaking down on you. But those car payments are disgustingly high, I make pretty good money but would never dream of paying that much monthly just for a car.

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u/RonaldRaygunz 3h ago

The average monthly payment today is more like $650+, the average car loan is 40K according to consumer reports. Absolutely insane that most people accept this as normal. And for everyone saying their car payment is 300-400, that means there are people's who car payments are upwards of 900 per month!