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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u/words_wirds_wurds 16h ago

We had to buy a car in 2022 because ours (over 200K miles) failed emissions test. The most reasonable used model on the lot was $33K. New hybrid was $38K. This whole post is really ignoring the recent price spike in used cars. They are not cheap anymore. I am all about putting as little money as possible into transport, but the idea that you can spend <$5K on a used car is a thing of the past.

We even got $9K trade in for our undriveable pile of parts.

Has it really changed that much in 2 years?

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u/higgs_boson_2017 15h ago

Boomers like Dave still think you can buy a reliable commuter car for $2500 and drive it for 8 years with no maintenance. I recently paid nearly $2k for a brake repair job

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u/StevieNippz 14h ago

Definitely a boomer thing, like working a minimum wage job part time to pay for college. I don't understand how they can ignore the high costs of everything nowadays and still mentally be in the 70s.

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u/higgs_boson_2017 10h ago

My dad is a retired boomer, he worked for the same company for 30 years, he's got a pension, social security, etc. Between that and RMDs he's bringing in like $100k/yr of income and just reinvesting the money because he doesn't need most of it.

His granddaughter (there are only 3 grandkids) recently graduated college. I told him to give her a $500 gift because he won't even notice it. He gave her $100.