🚗 Being an Entrepreneur, is buying a Car an investment or liability?

[kinqzbitz]

Well it is actually a very huge investment and so it should be taken and seen as such,you can use your car to work and so it is a very nice investment because it is lucrative

 

[YERUS]

Being an entrepreneur, it is even needful to buy a car to ease the stress. I cannot even be a full time entrepreneur without having a car to aid in mobility.

I think owning a car as an entrepreneur is not a liability.
You own the car, so it is an asset.
However, if you should monetize it, that is when it becomes an investment.

 

[Syldan]

Buying a car, by an entrepreneur, may be and may not be a liability, depending on the kind of car purchase and the purpose of which such car is bought for. There are some cars which are used in the promotion of business transactions, such cars can not be referred to as a liability but an asset.

 

[Abasiama40]

As an entrepreneur, buying a car can be an investment or liability depending on the criteria to which it was bought. It is an asset when its bought to make more money for the business or company. It is a liability when it does not generate money or income for the company.

 

[jay]

Personally, it depends on the purpose of acquiring the Car.
If it is business oriented I will agree it's an asset to your business.
If otherwise, a car will always be a liability.
What's your take?

If the car that you are actually buying for yourself as an entrepreneur is meant to be used to help your business to grow then it is not a liability but anything other than that is a very big liability for your business.

 

[Elfinito]

It depends on what you use the car to do.
It would be a very good investment if you use it for public transportation and a liability if it is for personal use

 

[Smiles20]

This is actually going to be a lot of calculating work. The car is going to impact the business growth positively then it is a good purchase but if you are doing it just for the fun of it then that is a negative idea.

 

[Justin]

Investment is always related to return. When you buy a car, what kind of return do you get? Nothing! Therefore buying a car is not an investment but a liability.

 

[greenie]

If your business requires the use of automobile to enhance and facilitate your work,then a car is one of the asset for the business otherwise it is a liability. Some businesses like supply of wholesales of goods. In this case an automobile vehicle is needed.

 

[Maphalle]

If it's for business purpose it is an asset but if it's for personal it becomes a liability.

 

[ganibade]

To buy a car as an entrepreneur is not a liability. This is part of company property that will consitute to the development of the company by using it to transport goods and services to far location or branch office of the company.

 

[Godspower]

To buy a car as an entrepreneur is not a liability. This is part of company property that will consitute to the development of the company by using it to transport goods and services to far location or branch office of the company.

It is not a liability as long as it can be used for business purposes. It can help in the transportation of goods from the site to the market for onward distribution and sales.

 

[Sotherefore]

As long as the car is for business purpose I don't see anything wrong with , you can buy a car to help you in your business organisation but the situation in which you are buying a car with no business reasons in mind is not the best because you will always be at loss except you have the resources to manage the car.

 

[Shigobad20201]

As an entrepreneur, buying a car can be an investment or liability depending on the criteria to which it was bought. It is an asset when its bought to make more money for the business or company. It is a liability when it does not generate money or income for the company.

As an entrepreneur , I believe buying buying car can be an investment and also a liability at the same time, i believe if a car is serving it purpose maybe you are using it for your daily (cab), or using it to carry goods to the customer ,then its an investment.

 

[eLdavis]

As an entrepreneur , I believe buying buying car can be an investment and also a liability at the same time, i believe if a car is serving it purpose maybe you are using it for your daily (cab), or using it to carry goods to the customer ,then its an investment.

that's right it simply depends on how you make use of it, even when using it for your business purposes, if used wrongly or not properly maintained, it can also become a liability to you, cause you would have to keep repairing it

 

[Sotherefore]

A car for business purposes is an investment because that will even help your business succeed more but a car without any uses is a liability and you must be financially stable to be able to use a car conveniently.

 

[Shigobad20201]

Buying a car might be an investment or a liability depending on the exact business you want the car for, I prefer using the car for commercial transportation business which will keep bringing in money for me.

 

[Sincerem]

As an enterpreneur if the car is mainly for the progress and for easier operation of the business then it is an investment , but at the same time you have to know your company's strength before buying a car . Some companies are not always able to maintain the car they have bought for a long time because of inadequate funds.

 

[Shigobad20201]

As a good entrepreneur and as a smart business man , buying a .car should be solely an investment and advantage for you because it must be used to bring positive returns to the company

 

[tyrim88]

Seriously cars are liability to me especially when your business is new because the cost of maintenance you're going to be spending on the car is going to affect your business drastically.

A seriuos business person that is just starting a business should not be involving lots of things that would put pressure in the business,and one of them is the cost that is associated with the maintainance of a car.