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

[Good-Person]

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.

There are many people who also buy trucks as well and then they rent out those trucks. They usually deal with construction project owners. So buying a truck may also prove to be profitable.

 

[Chibson]

There are many people who also buy trucks as well and then they rent out those trucks. They usually deal with construction project owners. So buying a truck may also prove to be profitable.

Yes, a friend of mine has a father whose major business is trucking. He usually makes a lot of money from it and since then I got interest in buying trucks if I have the money. It is really one of the best type of business you can do.

 

[Immilash1]

I think some people are making a big deal out of this, some people are really In a rush to buy a car, and I don't think that will help your earnings, that's very important.

 

[Shigobad20201]

I think this depends on the amount of money you are earning, if you are earning a tangible amount of money you can decide to buy a car an even do a lot of things that will earn you money.

If you are using the vehicle for commercial purposes , then it's an investment and if also you can maintain the car without sweating , I wouldn't call it a liability because of the maintenance.

 

[Abigael]

If you are using the vehicle for commercial purposes , then it's an investment and if also you can maintain the car without sweating , I wouldn't call it a liability because of the maintenance.

I have seen many entrepreneurs who buy cars that help them transport the products they sell or raw materials for their manufacturing company. Such use of a car makes it an asset and not a liability. But if you buy a car and the maintenance takes more than you can afford, it becomes a liability.

 

[Immilash1]

As an entrepreneur buying a car maybe something good,but if you don't know what you are doing you might end up wasting your time and money which is very bad.