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

[Immilash1]

They earn a good amount of money. They always make good money most especially when they are in high class areas that people will have to pay a lot of money to them.

That's true, I'm very sure if you have the necessary things, the skill set an all that you can be able to earn money from it, this very important it will help you very much.

 

[Chibson]

In my own perspective it depends on the motive of buying the car. There are people who buy cars and rent them out and that serves as a passive income for themselves which is probably an investment.

 

[Jonaville1]

In my own perspective it depends on the motive of buying the car. There are people who buy cars and rent them out and that serves as a passive income for themselves which is probably an investment.

I have someone who did this and it seems to be very cool to me. He bought a car and he rented it out to people who can drive instead of him to be going through the stress of driving.

 

[Trey]

There are many people who have bought a car and they use it to drive and earn money. They have been applying at companies like Uber and they make good money.

If I even have a car, I would be using it to run airports shuttles in the evenings. I can't be using a car for luxury at this young age. For me, a car is an asset and I must use it to make money.

 

[Eli342]

As an entrepreneur, buying a car can be either an investment or a liability, depending on the context and purpose of the purchase. If the car is intended to be used primarily for business purposes, such as transporting goods or traveling to meetings with clients, it can be considered an investment. In this case, the car can help to increase the efficiency of the business operations and contribute to its growth.

 

[Good-Person]

You know it actually depends on the purpose of buying the car because if you're buying the car to help and support the day-to-day running of your business, it is not a liability in my opinion. But if you're just buying the car as a luxury, then I would say that it's a liability.

Many people view car as a luxury. However, there are many people who buy car because they may need it. They may need it because they may need to transport their family members.

 

[Chibson]

I have someone who did this and it seems to be very cool to me. He bought a car and he rented it out to people who can drive instead of him to be going through the stress of driving.

That is exactly what I intend to do whenever I have the money to buy a car. I intend to buy some, rent them out to people to be giving me money passively. It is a very good way to create passive income.

 

[Immilash1]

Buying a car might be a good idea as a entrepreneur, but you have to be very careful, don't go ahead an be spending more than what you can earn, that's just it.

 

[Chibson]

Buying a car might be a good idea as a entrepreneur, but you have to be very careful, don't go ahead an be spending more than what you can earn, that's just it.

What really matters is what you are going to do with the car. There are many people that buy cars and they use it as a means of transporting people from one place to the other. Most of them usually make a lot of profit.

 

[Heatman]

If that's not important I don't think if it will be a good idea to buy, if you are not ready to have a car I'll not advice you to have one,, having a car you need to be fixing all it's problem daily.

Personally I believe that if running your business doesn't require buying a car for the day to day activities of the business, then I don't think it is something that is necessary for a business owner to invest in because it is only going to be a liability in that business.

 

[Jonaville1]

That is exactly what I intend to do whenever I have the money to buy a car. I intend to buy some, rent them out to people to be giving me money passively. It is a very good way to create passive income.

That is good but it is risky at the same time. You must endeavour to know the person who you are giving your car to. You know that some people are not trustworthy. You can use car trackers

 

[Immilash1]

What really matters is what you are going to do with the car. There are many people that buy cars and they use it as a means of transporting people from one place to the other. Most of them usually make a lot of profit.

You are right, but what we also need to consider is you are not going to earn money from it, you are only going to be using it personally, that's what you need to keep on mind.

 

[Chibson]

That is good but it is risky at the same time. You must endeavour to know the person who you are giving your car to. You know that some people are not trustworthy. You can use car trackers

Of course before you give your car out to people you must involve the police and every necessary document must be signed. You will not just to give your car out to random people.

 

[Immilash1]

I think this depends on the kind of business you are running, if the business is good an it yeilds a lot of money you can be able to earn get your personal car.

 

[Heatman]

In my own perspective it depends on the motive of buying the car. There are people who buy cars and rent them out and that serves as a passive income for themselves which is probably an investment.

If it's possible to turn making use of the car that an entrepreneur purchased for his business into something that generates money for the business, then I believe that it is a very good project that he invested in.

 

[Chibson]

If it's possible to turn making use of the car that an entrepreneur purchased for his business into something that generates money for the business, then I believe that it is a very good project that he invested in.

in this part of the world there are a lot of transport companies. What they do is that when you buy a car you invest them into the company, they will be giving you some certain percentage from that your investment.

 

[Jonaville1]

Of course before you give your car out to people you must involve the police and every necessary document must be signed. You will not just to give your car out to random people.

That is true
It is very risky to trust people with any of your properties even if they are the people that you know. You just have to involve the government officials incase anything happens.

 

[Immilash1]

That is true
It is very risky to trust people with any of your properties even if they are the people that you know. You just have to involve the government officials incase anything happens.

That's true, but I think even if buying a car might hinder your from getting what you are looking for, a lot of people are making the mistake of spending from their business immediately they started.

 

[Chibson]

That is true
It is very risky to trust people with any of your properties even if they are the people that you know. You just have to involve the government officials incase anything happens.

Whenever it comes to business everything should be legal and official official. You need to obtain a police report if you want to give out your car to someone to drive for you. That is how it works.

 

[Immilash1]

If it's possible to turn making use of the car that an entrepreneur purchased for his business into something that generates money for the business, then I believe that it is a very good project that he invested in.

I think this totally depends on the knowledge you are having, if you have a good knowledge you are going to earn a considerable amount of money from it.