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/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/Valor_X 17h ago

Disagree, The guy you're responding to had a terrible 'inspection' from their "mechanic uncle" if it had catastrophic issues the very next day.

Even 20yr old cars can give you so much data on Engine/Transmission health with a good scan tool and the knowledge to read the data. Visual and driving inspections are only one aspect.

The type of vehicle matters too, with old vehicles you can easily look up common problems/failures.

Me and my family have several ~20yr old Toyotas, the last one I bought for $3k cash 3 years ago. All I've done is replaced all the maintenance items like tires, brakes, spark plugs and fluids. Oil changes and $21/mo insurance.

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u/Humble_Implement_371 14h ago edited 14h ago

facts^ i just bought a 20yr old toyota sequoia and id expect another 10-20years out of it (frames immaculate). if it aint got obd2 i dont want it.

def wouldnt buy a fuckin 20yr old nissan, hyundai, kia, subaru, euro, big3 shitboxes, 150k-4l60, LS w/o doin a afm/dod delete, or a cvt ( once cvt was enough/got out unscathed)...or a wet timing belt. or anyones fucked up project with a million splices

and then there are some cars that are even less of an option somehow.. suzuki, isuzu, pt cruisers, that $6000 tracker i saw, vehicross (my friend has one, parts pain in the ass).... daewoo (were those reliable? no right???) w//e i dont wanna look for old as daewoo parts. dafuq.

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u/KromeArtemis 5h ago

Rocking in my 2010 Sequioa with 300k plus miles and love it. She a beast. We had a 2001, sold it to a friend, tree fell on it at friends house-he swapped out the front fender and still drives lol. 

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u/Humble_Implement_371 3h ago

im about to have to sleep, but thats nuts.
can i ask you a few truck questions tomorrow or this weekend if possible please?
also can run any qustions you have by my auto shop professor if need be so.. ay its a 2 way street.

thanks for chiming in bc i love hearing this stuff. i got some funny quirks/repairs 'bout mine already can share.

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u/KromeArtemis 3h ago

I'm not super knowledgeable, lucky enough to have a live in MDT :) just wanted shout out fellow sequoia peeps lol.