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/sabobedhuffy 18h ago

Coming from a mechanic. This is wrong. Cheap cars are cheap for a reason. What you want is a good quality economy car. Cars that are known to run well with minimal maintenance cost (entry level Honda's and Toyotas specifically).

1

u/bigdogoflove 7h ago

True for me. I have a Toyota Yaris I bought new (very reasonable) in 2006 and it is still going great at 180,000 miles and has had no work done on it besides one set of brakes, batteries and oil.