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

[Shigobad20201]

As an entrepreneur, buyung a car is an investment to me because I will automatically use the car for the safety of my business and for commercial purpose in order to make more money .

 

[Chibson]

It depends on what you want to do with your car. If it is for commercial purposes then it is an investment. There are people who buy cars and use it to make a lot of profit after sometime.

 

[tyrim88]

From an accounting view, it is definitely a liability but from a business view, the car would be needed to run errands that would be beneficial to the business I'm bringing profits therefore it is an asset while it's still in good condition.

Any vehicle that is fully integrated into the business and functions in the running and helps in part of the operation of the organization,then it becomes an asset.

 

[Sotherefore]

Car for business purpose is an indirect investment so long it will help you make your business more progressive. That is the only way but buying a car for luxury purpose may be a liability.

 

[Mighty]

Well I don't think so but 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.

 

[Imran_Noori]

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 someone buy a car for business or for selling it with a bigger price then it is business and a good investment but if he or she buy it just for showing off then it is a waste of money.

 

[Laurentta]

It depends on the purpose. I believe that acquiring a car for business purposes as an entrepreneur doesn't make the car a liability. Rather, the car will be an asset to the business.

 

[Smiles20]

If you are somebody who is just trying to build your portfolio and the car is going to help you to do that then that is what you should do otherwise you should invest the money into something else.

 

[Shigobad20201]

As an entrepreneur, buying a car means it should be for business purposes, so in my own opinion , buying a car is a lucrative business and not a liability in the line of business .

 

[Alisco]

Buying a car can never be a liability in a business even if the car is kept not being is also an investment because one day it can be sold and the money be used.

 

[frederick_9]

A car is an asset for the business if it is necessary for you to use it in order to improve and facilitate your work; otherwise, it is a liability. Some businesses enjoy providing wholesale goods. In this situation, a car is required.

 

[Agbalagbaa]

If you are earning a good amount of money buying a car is not a problem, but if you are running a business I don't think that will be a good idea, I'll advise you to invest your money.

 

[Nadiel sahmen]

As for me I will say it depends on the kind of work you do or the place the business is located . For instance, if the business is located at a very far place which from your home to that place is more the an hour I will say purchasing a car is not a liability. But if the other way round I will say it’s a liability

 

[Good-Person]

It depends on what you want to do with your car. If it is for commercial purposes then it is an investment. There are people who buy cars and use it to make a lot of profit after sometime.

There are many people who buy cars and use those cars. they then sell it for a profit as well and this means that buying and selling cars could be profitable.

 

[Chibson]

There are many people who buy cars and use those cars. they then sell it for a profit as well and this means that buying and selling cars could be profitable.

Of course cars business has been one of the most lucrative ways of making money. Buying and selling of cars is very lucrative but it is for people with big investment capacity.

 

[Immilash1]

I don't think that's necessary, if you are running a business its not necessary to have a car or not, a car can take all the profits you have made, is not that important.

 

[Amanda_5]

The use of the car will determine this. if having a car is necessary. To put it another way, if the car is designed to make your everyday excursions easier, especially because of your business, then it is unquestionably an asset because it is also utilized to manage the firm.
However, if you only use the car as a luxury, you don't actually need it; you just desire it.

 

[Mohammed Rashid]

Since you need mobility for some jobs, purchasing a car shouldn't be a liability for the company, provided it increases profitability. Depending on the type of business, a car may be required to transport your goods.

 

[Shigobad20201]

Since you need mobility for some jobs, purchasing a car shouldn't be a liability for the company, provided it increases profitability. Depending on the type of business, a car may be required to transport your goods.

as a business entrepreneurs that needs mobility for his or her business , buying a car is always an asset and not a liability , because you can also make money from the car by using it to hire and move people from one place to another .

 

[Connor909]

It seems that depending on the circumstances, getting a car as an entrepreneur might be both an investment and a burden. A car can be a useful asset for a business, providing transportation for personnel or goods, but it can also be an expensive investment that raises the responsibility of the company. A car can be expensive up front, and there may also be continuing costs for upkeep, repairs, insurance, and taxes. Personal possessions like cars may also be in danger if the company is the target of liability lawsuits.