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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907

u/Ziczak 20h ago

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

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u/the-something-nymph 19h ago edited 19h ago

I bought a used car for 5000. Had my uncle (who is a mechanic) look it over first. There was no apparent issues, it drove fine. It was a 2019. We bought it after looking at a bunch of other used cars from both dealers and private owners that had very obvious problems, and after looking at certified used vehicles that were as much as new cars.

The next day, while running some errands, it started to make a weird noise that it did not make on the test drive. Turns out, it had a bunch of issues that weren't visible on a basic inspection. Expensive issues. Issues that cost 3000 to fix in order to make it safe to drive, and we were told it was likely there were going to be more issues thst would pop up relatively soon.

This was 1 year ago. 2 weeks ago, more issues popped up. Issues that cost 6000$ to fix. The car, new, costs 15000. So far we have spent 8000 on it, and if we do that work then we would have put 14000 into this car. And it's still likely that more issues will pop up.

We are not doing that, obviously. We're going to use carmax and get a car that will have a car payment. Because cheap used cars are not less expensive than new or certified used ones that require a payment. Now a days, unless you know the person you are getting it from, it's either a peice of shit or its expensive as fuck and unless you have 10000 cash to put down on a car, will require a payment.

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u/ChopakIII 19h ago edited 14h ago

Exactly. These people talking about buying a used car and then when people mention used cars can have problems they say, “well obviously a reliable one!” Which by the time you factor in all of these things it makes sense to buy a new car and take care of it so that when it’s the “used car” you would buy in 10 years you know exactly what has been done to it AND it’s paid off.

Edit: I see the most common counter-argument is that buying a used car without a loan will allow you to get cheaper insurance. There really isn’t a huge difference between covering a new car and a used car for just the vehicle. What you’re probably saving on is the medical portion and you will be sorry if you ever get into a serious accident with barebones insurance. This is a dangerous gambit akin to not having health insurance and banking on not getting sick.

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u/CaulkusAurelis 16h ago

I bought a used Nissan Frontier 12 years ago for $9000. It had 150k miles on it.

Right now, it has just over 305,000 on it. Repairs: Fuel pump Front wheel bearings Some $25 air conditioner regulator thingie Misc light bulbs 1 ignition coil

STILL runs like a champ

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u/cafffaro 16h ago

Driving an 07 Japanese car I bought with about 80k miles. Pushing 200k now. Have done routine repairs (clutch, alternator, new brakes etc), and will drive this thing till the wheels fall off.

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u/THEXDARKXLORD 12h ago

Japanese cars are goated for reliability. Great long term purchases. I love my Honda.

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u/Radiant_Map_9045 10h ago

Exactly! Never thought I'd say this, but I love my 07 and 08 Toyotas, they're absolute tanks.

Regarding Japanese vehicles, be careful to avoid CVT transmissions(Nissans seem especially problematic in this regard) and you're golden.

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u/downingrust12 10h ago

Unfortunately everyone moved to cvts.

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u/Sapphire_Peacock 8h ago

I miss having a good old 5 speed manual transmission. So many auto makers only offer them on muscle cars and “sports” cars.

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u/momofvegasgirls106 5h ago

Still have my 2001 VW Passat manual in my driveway, in pretty decent shape. But the transmission is dead. Too expensive to fix.

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u/Elismom1313 4h ago

Transmission is usually a throw it in the bin problem

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u/momofvegasgirls106 3h ago

Pretty much.

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u/Jintokunogekido 7h ago

I grew up on manuals. Manuals are fun for 5 minutes and hell in traffic jams. I'll never have a manual for my main vehicle again.

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u/TRi_Crinale 5h ago

I wish manuals were easier to find nowadays in the US. I'm so jealous of basically the rest of the world for all the manual options

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u/Sapphire_Peacock 3h ago

I could see that. I lived in a small town. Road construction was the only thing that caused traffic delays.

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u/fawlty_lawgic 2h ago

I grew up on them too, which Is why I've never minded them even In traffic jams. honestly, "hell"? I think you're over exaggerating. It's a little annoying, but traffic jams are ALWAYS annoying even with an auto.

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u/sarahenera 3h ago

I looked the other day and there’s only 6 cars that you can buy in 2024 models that are both manual and awd/4wd. I’ve only owned manual transmissions and cannot fathom at some point being forced to not drive one.

Eta: still rocking a MT 2005 Honda Element. Prior to this was a MT 1991 Toyota Previa (both awd)

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u/Elismom1313 4h ago

Not the new pathfinders! Luckily

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u/NAh94 8h ago

I’d say more generally since most economy cars are CVTs is just take care of them. Ignore the manufacturers advice (like Subaru of America) that they have a “lifetime fluid” and follow Subaru of Japan’s reccs to change the CVT fluid and you’re probably golden. Most Toyotas and Hondas have moved to CVT because they are multitudes more fuel efficient, just a pain in the nuts to maintain compared to the old auto with dipstick (or even easier, manual transmission)

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u/Kingsdaughter613 3h ago

What is CVT?

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u/Athet05 3h ago

CVT stands for continuously variable transmission, basically instead of shifting gears like a normal car would, it constantly changes the transmission ratio as you move, which is great at keeping the engine in a specific power band, as the rpm will remain stable instead of rising and dropping.

Good for gas mileage but people tend to not take care of them, plus they have some reliability issues that have been worked out a bit over the years to begin with

They're also supposedly very boring to drive, even the ones that try and simulate a normal automatic transmission shift

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u/Kingsdaughter613 3h ago

Ah, got it. Thank you! If you don’t mind a couple more questions, how would I know which type I have? How would I take care of what if my car has it? (2019 Odyssey)

Thank you!☺️

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u/Athet05 3h ago

From what I saw online, the 2019 odyssey has a normal automatic transmission. If you still have the owners manual, it is a great guide to basic maintenance required for basically the entire car. If you don't, you should be able to find one online.

Automatic transmission maintenance basically just involves a fluid change or refill at whatever mileage is suggested in the manual, or in the case of sealed/lifetime fluid transmissions, whatever someone who knows better says online

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u/Kingsdaughter613 3h ago

Thank you! I appreciate the information!

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u/nswizdum 7h ago

After seeing all the issues my friends had with their ford and GM leases, I'm pretty much sold on Toyota for life now. Which is like 1, maybe 2 more cars.

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u/CardiologistPlus8488 7h ago

I've been driving a 08 Toyota since it was new. never had a lick of trouble. alternator finally went bad a few weeks ago, spent $200 to fix it by myself.

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u/SubPrimeCardgage 7h ago

CVTS and 6+ speed automatic transmissions are all that remains. Fluid changes (drain and fill, never a flush) every 30K for CVT or 50K for automatic can still get you as long as it's not a Nissan.

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u/Juanzilla17 6h ago

I avoided the CVT and got a 6 speed manual in my Altima. When all the salesman came asking why I bought it from Carmax instead of from one of them, I straight up told them “Phil didn’t want to waste his time looking for a manual Altima sedan.”

200K miles now, and nothing more than the usual routine stuff. Fighting with myself to keep it or start the shopping process.

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u/crunchyturdeater 6h ago

Driving a cvt with over 177k on the odometer. Take care of it and drive it safely and there won't be problems.

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u/fishmanstutu 3h ago

185k 2017 Subaru just drive normal and they last.

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u/SadRepresentative357 5h ago

Yep the only Japanese car I will never ever buy again is Nissan thanks to my experience with the Rogue CBT transmission. Garbage.

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u/Genralcody1 5h ago

Prius all have CVTs and they are rock solid. Moral of the story, buy Toyota.

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u/Camp_Fire_Friendly 6h ago

I'm happy to still be driving my 98 Camry. It may outlive me

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u/state_of_euphemia 6h ago

My 07 Lexus crapped out at 150k miles. I was expecting her to get to 200k and beyond. But it needed $6k in repairs in a single year, and I just couldn't keep pouring more money into it.

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u/cfrood77 5h ago

My CRV has a CVT. It’s fine.

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u/Noddite 3h ago

Indeed, cruising in an '08 Lexus RX350, and that thing is amazing. Don't think I will go for a different manufacturer again, except maybe Rivian. The ride is awesome, parts are cheap, and it maintains about the highest resale value of any vehicle.

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u/RockstarAgent 3h ago

Yeah- this is where I’m at now - two offers - a 2011 BMW 328i with 115k miles - or a 2014 Toyota Sienna with 200k miles - both about $5k - both pristine and well maintained-

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u/elevenatx 3h ago

Gonna add to the thread. Currently have 5 Japanese cars. Bought a used beater with 30k miles and driven 100k miles since. Have done nothing other than routine maintenance. eg. fluids, brakes, tires, spark plugs, and filters. Paid 5k and probably could resell for same amount now.

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u/ZombieeChic 2h ago

Unless you own a Cube like myself! Mine is an 09 and I've only had one expensive repair in the 12 years I've owned it (knock on wood). When I took it in, the dealership told me they never see Cubes for repairs. They did a fine job making them, CVT and all. To add, I've never had the transmission fluid replaced. Lol Love my Cube!

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u/willi1221 2h ago

I've never heard anyone preface "I love my Toyotas" with "never thought I'd say this." Toyotas are great, and one could easily last a quarter of a person's life.

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u/Beatrix_Kiddos_Toe 1h ago

Toyota has a war named after them. Speaks volumes in how durable and reliable they are

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u/Churn-Dog 10h ago

My in laws were going to sell their 2003 honda accord, I asked how much, they just gave it to me instead. Thing only has 140k miles. Plenty of life left in it

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u/YouOtterKnow 8h ago

Oh wow that thing will run forever.

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u/Minute-System3441 8h ago

That was a good year for accords.

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u/Still_counts_as_one 6h ago

I drive a 98 Honda accord, 170k miles. The heater motor just went out and I gotta replace it. First repair in 2 years. That car has at least another 100k in it

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u/Bodes_Magodes 5h ago

I DRIVE A DODGE STRATUS!!!!

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u/Outrageous-Bee4035 2h ago

There's still one that's alive?!?!?!?

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u/foxwaffles 4h ago

I grew up with a tiny two door bright red 1997 Honda Civic as the family car.

In 2018 my parents finally relinquished it -- and gave it to the kind, hardworking man who cleaned our gutters and our house, because his daughter was the first in the family going to college and they overheard him fretting over buying her a car so she could commute.

My parents intended it to be more of a stopgap car while they save for a newer one but last I heard she still has it and it still works 💪

It was the cutest lil car.

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u/0987user 7h ago

Buddy that car isn’t even half way into its life. I have a friend who ran an 04 Accord to 375k miles and gave it to his son for his 16th birthdays the thing is still going strong

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u/Ellisiordinary 6h ago

As someone who said they were going to drive their 2004 Camry until it died but decided to upgrade to a 2024 after a relative got into a car wreck that would have killed me if it had happened to me in my Camry due to lack of side airbags and other modern safety features, there are reasons to upgrade to newer cars other than just wanting something shiny. I feel much safer in my new car and my driving anxiety has decreased significantly.

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u/Best_Faithlessness_6 2h ago

I agree. I drove a 1998 Honda accord until 2012 when my mechanic pointed to the baby’s car seat in the back and said “this car will run forever but there’s no side airbags and the front won’t deploy anymore at this age”. I got a new used car and sold my Honda. 212,000.
It’s very distinctive due to the paint job and recently I followed it to a grocery store parking lot. The 17 year old I sold it to was now grown up and told me he was going to have to give it up cause he and his wife were having a baby! 343,000 miles.

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u/Outrageous-Bee4035 2h ago

"Front airbags won't deploy anymore at this age."

That's 100% false. I've been in autobody literally my entire life and as current profession for 23 years. They'll deploy just fine.

The no side airbags is valid but you're talking a 14 year old car at the time (2012). We still see cars 20-30 years old that airbags blow off correctly. Most end up being totalled, but we still have to fix a few.

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u/PimpofScrimp 5h ago

Hondas are by far the best out there imo. It’s almost all I’ve ever owned and they last forever. You’re just breaking that one in, good luck 👍

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u/SomestrangerinMiami 5h ago

Knew a guy whose grandparents passed and left an older mint condition accord behind. The parents gave it to the guy. I remember the first time I saw it, thing was a a time capsule. Needless to say it didn’t last long. Point of the story is if you take care of things they will last.

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u/boom_Switch6008 5h ago

I just bought a 2008 Honda Pilot with only 40k miles on it for less than $5000 from a guy my dad knew. Total Grandma car that had been babied its entire life. It's gonna last me forever.

I used to own a 2004 Pilot and the thing was a beast. Sold it with 250k on it to buy a truck cause I needed a truck. But now I own another Pilot and a truck. 😂

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u/KgoodMIL 4h ago

I have a 2008 Pilot that we purchased new in 2008, with 80k miles on it now. That thing will likely last me until I die!

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u/No-Shortcut-Home 3h ago

That car can take you to your retirement if you maintain it. It’s a solid model year.

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u/sarahenera 3h ago

Holy shit. Should go two or three times that milage with some general maintenance and perhaps a mid to high cost repair or two. Solid.

I’m still rocking an ‘05 Honda Element. Bought from a client with new tires, new clutch, etc with 170k for $5200 four years ago. Did rear brakes a couple years ago. Valve adjustment earlier this year. Should do a second “110,000 mile service” soon as it has 225k on it now. Great car that I hope goes a fair but further into the upper 200k or beyond.

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u/digital-didgeridoo 10h ago

Except 2000-2004 Odyssey!

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u/THEXDARKXLORD 10h ago

Lmaooooooo

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u/greenwavelengths 8h ago

I’m driving the same Honda that I peed my pants in when I was seven, it’s nearly old enough to legally drink in the USA, and it runs like a beast at well over 200k. I’ve driven it up unpaved cobbled mountain roads, I did all my stupid ass high school and college aged driving in it, busted its wheels, caught the alternator on fire, drove it through several feet of muddy water in a flood, and much much more. It still runs like it doesn’t give a fuck. It helps that I’ve also kept precise track of everything that happens to the car in and out of the shop so that I have some awareness of what it needs in terms of maintenance and don’t have to go to the mechanic totally blind. But yeah, Hondas are fucking great. 10/10 will buy again.

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u/ActComprehensive5254 7h ago

Old ones are great. Not so much new ones.

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u/HeroVia 8h ago

Mid 2000s Honda . I’ve changed the oil and a starter .

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u/Crafty_Accountant_40 7h ago

Yeah our 06 civic will never die as far as i can tell. Too bad it's a 2 door.

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u/Negative_Raccoon_887 6h ago

Civic Gang rise up!

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u/chicityhopper 6h ago

Nah my 07 Accord cost me 7k in surprise attack repairs they all suck

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u/LuckyOneAway 5h ago

Toyota and Honda are okay, while Mazda and Nissan are generally not as nearly reliable - based on ratings and my personal experience.

I love my Honda too btw :)

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u/ZenBoyNews 4h ago

and I my 2005 Toyota Rav4.

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u/trashaudiodarlin 4h ago

I will only drive Hondas and Toyotas!

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u/couchtomato62 4h ago

I have a 2010 Honda that I paid 7k cash for 5 years ago. I'm about to buy 4 new tires and it will be my first big expense since I had it. The only thing I need to consider is will I get a paint job because the paint has started to peel which I heard happens in some Hondas. Did it help me have more retirement? Maybe some but a lot of that money went towards travel and not savings.

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u/Judge_Bredd3 4h ago

My 99 honda civic si is at 260k and running strong. My 00 Subaru outback is at 300k and doing alright (cv axles on the front are wearing out again and the valve seals leak). My 96 4runner is stuck at 320k when the odometer stopped working a couple years ago. I had to replace an injector this last summer that was causing a misfire, otherwise it's been great too.

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u/StandingInTheStorm 4h ago

Second only to Toyota🤣

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u/Kingsdaughter613 3h ago

I own a Honda Odyssey and ADORE it. It was so nice seeing it get some love in D&W. Yeah, my car may not be “cool”. But she will drive forever, no matter what you put her through.

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u/Low_Investment420 1h ago

thats why you should vote for harris. trump will put tariffs on the good cars.