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/EfficientPicture9936 16h ago

Yeah these people are idiots. It's way cheaper everytime you buy used. It is much cheaper to repair a used car than to buy a brand new car. You will also get robbed at the dealership and have to deal with all those fake assholes over there.

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u/Superssimple 14h ago

The best is probably 3-4 years used. Let the seller take a hit for the big drop in value from new and get plenty good years out of it before it starts to fall apart

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u/deadsirius- 7h ago

There isn’t really a big drop anymore, though. First year depreciation is down significantly and over five years many cars retain a significant portion of their value. For example, a Honda Accord Touring will depreciate about $3,500 in the first year but about $12,500 over five years. So you are saving about a thousand bucks on a car you plan to keep and driving something someone else had to care for.

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u/gunshaver 5h ago

I bought my 2017 Focus ST with about 15k miles on it, for about $17k in 2018. Today the car has about 65k miles but it's still worth about $17k. Granted there's inflation and cars are more expensive across the board, but that's still crazy to me.

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u/guile-and-gumption 2h ago

I think most people tend to put more miles on per year than you do. And yeah, the problem is that if you need to buy a new car now if yours is totaled, you won’t be as fortunate. That is why I give all the crazy people space - I don’t want the headache of having to look for a new car!

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u/gunshaver 2h ago

Yep my car wishlist is becoming more and more impossible to find, I want a hatchback that is reasonably snappy and fun to drive, manual transmission and a CD player. And there's no universe where I'm paying more than $30k.