Is Buying a car an investment or expense
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[source](https://pixabay.com/illustrations/installment-car-bank-percentage-3572185/)
Beside all these factors, things have been changed after spike in Car price. In last 4 year price of car are almost double. Car which was selling around Rs 1.8 million has been increased up to Rs 4.0 million. This make car a good investment as there are few businesses which double your equity in 4 years.
I have known many people who bought car in instalments. Despite paying excessive amount due to instalment, the costed price is much less than current price.
Rise in price of car has reduced the demand of new cars as a result old car observed massive pump in price. Car which was around Rs 1.0 million has almost double its worth and currently it is selling around Rs 2.0 million. Even the price of the car appreciated by its book value. Yes, old model cars are selling above its book price when the car was new. This makes a car good investment.
Car is considered as a luxury in third world countries. However, it is a basic necessity of life. Life without car in a big city is pretty difficult as the price of Uber and other transport has raised many times and the unavailability of good transport also necessitate the importance of car.
I am not denying the expanses of car in the form of fuel, operating cost and maintenance cost. It is a big liability specially at a time when we have almost 46% inflation. The way the the price of the car is gaining worth, we can say that buying a car an investment. What is your opinion my friends?
This is it for my today post. Wish you all a very happy, healthy and prosperous life ahead. Have a nice time.
If you use a car for business purposes like Uber cream or taxi, I mean using a car to Create Income then it's a good investment, some people buy cars just for selling with little bit of profit that a investment, otherwise car is a expensive to fullfill anyone disire or need
Public transport in my part of the world is not so good. Specially in small cities. Car become much cheaper from public transport. Anyhow, it varies from person to person.
It's never an investment because the depreciation happens with it every single day it is used or not?
Normally car depreciate with the passage of time but in my part of the world that worth of car is appreciating despite being old.
How is that possible?
Its really disappointing to see the inflation rate. Things are getting difficult to manage. Well if we see in other sense then having a car can be a good investment.
This is the point which I had explained in my post. Appreciation in car price made car an investment opportunity.
Quite obvious it’s an expense AND expensive. 😅🙌🏻
Indeed it is an expense but there are few ways which make car an investment. If you earn from your car, or even it is fulfilling your daily need. Any how, people differ in opinion and I respect your opinion.
That's are good way to look at it. If we're in an environment or situation were we need a car, then it is not an expense. A car can be an investments when it's increasing in value or generating returns.
You got my point. Having car is indeed profitable if it is in your use, source of earning for you and price appreciation.
Indeed. I think that's a good way to see it. Cars are both a luxury and a necessity.
Everyone can have their own say here because all the people in Pakistan who have bought it some time ago or used it today have increased in price and are making a lot of profit. And I say that when a man has money, he must buy it so that he can lead a comfortable life.
Well said. Stay blessed.
Thanks
buying a car is a nice idea, but the cost of maintenance is another different ball game. as you have said, now that the inflation is 46%.
Indeed buying car needs huge investment but it now the necessity of life. Just imagine the difference in price people who purcashed earlier. Even my second car appreciate 50% price.
it depends, down here people use it as a taxi, and it generates cash
For the majority of car purchases, the expenses associated with owning and maintaining a car outweigh any potential financial gains, making it more of an expense than an investment.
I agree with your point but just consider a situation when the price of second hand car is appreciating and your public transport system is either costly or not too good. Car become necessity of life. At one time, it was considered as a luxury but time have been changed now. Thanks for stopping by and sharing your thoughts with us. Stay blessed.
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It all depends on where you are. At this side of my country, having a car is a necessity. Cabs are so expensive that you may spend the money to buy a car in 2 or 3 months if you move around frequently.
Buy a car in 2 or 3 months is simply amazing. In my part of the world you have to wait for couple of years to purchase even a second hand car. Stay blessed.
Yeah, it depends on what we do. Stay great buddy.
https://twitter.com/LovingGirlHive/status/1663809638486392832
Thanks
I think it's an expense as it is very hard to sell your car, when you love it so much.
Although current price of second hand card has raised more than 50% in last 15 months but still it is not a good idea to sell your car because you will never buy such car in same amount due to inflation. Stay blessed.
https://twitter.com/lee19389/status/1663923173048328201
#hive #posh
Thanks
Welcome