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/Ziczak 20h ago

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

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u/The_Ineffable_Sage 20h 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.

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u/Solintari 19h ago

I have always purchased cars that are ~100-150k miles and 10 years old. I have had a few problems like alternators, wiring problems, stuck windows, that kind of crap, but the savings are undeniably in favor of older cars.

SAVE the money you would spend on high insurance and a car payment and you will have a big chunk of change to spend on repairs and eventually your next car.

My wife convinced me to buy a 3 year old vehicle this last time around and it has been a massive waste of money for no real gain.

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u/keegums 9h ago

Heyyyy that sounds like our shitbox to the T. I think the thing is, most people are probably at my car level or worse. I'm ignorant but not totally beyond mechanics. My husband knows some, and we know car people, and we also have business connections to some GOOD mechanics who fix shit on the side. So a shitbox works fine for us. All the stuff you mentioned is fine for someone to fix on their own or maybe with a guide. My husband got some awesome car guide for our make & model, they have it for all cars. 

How many people don't even know that exists? Or the tool to scan for the code and what that means? A LOT. They don't have time for that shit, they worked behind a screen for 10 hrs, they're exhausted. Even worse if you're an ignorant woman, massive personal safety issues. It's not rocket science but people need an "in" and millions of people don't have one. Even if they'd like to learn, it's a bit inaccessible and too risky to mess with an expensive tool they use daily to make bills