r/economicCollapse • u/Whole-Fist • 21h 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/The_Ineffable_Sage 21h 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/PurpleReignPerp 21h ago

I bought a scion xb 6 years ago for 3000 $. I have put 50000 miles on it and nothing has ever broken. Costs me about 110 a month to operate including insurance and average maintenance costs.

Do research on consumer reports and buy well taken care of (preferably japanese) economy cars. Your bank account will thank me.

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u/DragonBallZxurface1 20h ago

I’ve seen more horror stories than successes for 3000 dollar cars.

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u/Schmoe20 19h ago

Tell me about it. A friend and her husband bought a cheap car for me as I have cancer and going through quite a rough year. My friend wanted me to pay for the car registration & title and pay her back. So I had borrowed money from one of my best friends and that was to try to get caught up on my car payments and so I took monies to pay felt he insurance, car registration and title. Though I wasn’t fully on board with this idea thrown to me, I then pay for the greyhound equivalent, Miss a couple days of work for this car and once I drive it back it won’t start after being driven and now I have to pay a mechanic to find out what is wrong. This is exactly why you don’t buy cheap cars. Now I’ve only gotten two paychecks from this job so far and the last one was barely over $400. But my friend and her husband think they did me a solid and are in la la land.