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

[Kane]

If you are an entrepreneur, instead of buying a car for yourself, why not invest the money for business development, product research, or even improving staff.

 

[Heatman]

Please if you don't use the money that you have saved to buy a car what other money would you be able to use to buy a car if you will be more open to answer me this question.

 

[Bookwormlux1]

Please if you don't use the money that you have saved to buy a car what other money would you be able to use to buy a car if you will be more open to answer me this question.

It is okay to buy a car with it if you have no feasible business in mind, but what we are considering is the ability to maintain the car after buying it since it requires money too.

 

[GIFTMICHAEL]

Every merchandise bought for personal derivative and not for commercial purposes can be tagged as liability asset, cos it can damage without gaining back the actual value which it is bought.

 

[Good-Person]

Car is an asset that will depreciate over time. I am not sure if the value of car will remain same for a long time. However, we had a car and we sold it for the same price after 12 years! However, the value of the money also depreciated, so we cannot say that we benefitted with the deal. The fact reamins that we also used the car and it paid us off. So the answer depends on the situation and conditions.

 

[Heatman]

A lot of people actually think that buying a car is easy to maintain which is very wrong because when you don't have a standard source of income he will find it very difficult to maintain your car

 

[Ub40]

I don't think buying or owning a car is a bad idea, but what is bad is the purpose of that car. If the car is producing some income for you, then it is okey by me, but if you just buy it just to show off, then it is a liability to you. It is just my opinion.

 

[Bookwormlux1]

A lot of people actually think that buying a car is easy to maintain which is very wrong because when you don't have a standard source of income he will find it very difficult to maintain your car

Some people do not understand that rich people make use of their big wins and profits to buy these luxuries not like poor people that use their income and savings.

 

[eLdavis]

Yours like you rightly said, it depends on the purpose why you are buying the car. As an entrepreneur are you buying it as a tool to move your business forward maybe to run errands or deliver goods or it's just for pleasure and flex.

Very true, cars are liabilities because it requires constant care, maintaining and of cause buying of petrol or gas to run. So if your reason for buying is just to have fun, that means the car would keep on sucking you without giving back in return

 

[Heatman]

Seriously when you have excess money that you don't really have much thing to bother about when you are spending your money then I don't see a reason why should be an issue while you can buy any car you want at the moment.

 

[Kennysplash]

I think it is time we start calling cars a liability. One way or the other it serves a purpose. Whether it is for business or for commuting or for taking the kids to school, vehicles surely have their importance. And if you want to acquire it for the fun of it which is a liability, make sure you have the means to handle the expenses.

 

[Snazzy001]

Well I think this is quite a sensitive one. Buying car will be a sort of liability for you because you have to service the car month in month are out and you need to fuel the car daily, but I think it is to your own advantage because this is same money you would put into traveling to places

 

[Josemendez]

It depends on the type of car bought and the aim . For cars to be used for transportation business, it is a good investment . For personal car bought to reduce the money spent on transportation , it is also a good investment

 

[Queentener]

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?

I will agree with with what you said as this as always been my view and opinion especially if the business is just growing buying a car for personal use is liability.

 

[Fizzy_boi]

Actually if the car was bought mainly for personal use we can definitely say it's a liability but if it were bought with businesses in mind for it it could go as an investment .It depends on it uses.

 

[Heatman]

If you can actually afford buying a car for a business as an entrepreneur, I believe that it's something that can help your business grow because it will save you some extra expenses on transportation with public vehicle.

 

[Alexandoy]

Seriously when you have excess money that you don't really have much thing to bother about when you are spending your money then I don't see a reason why should be an issue while you can buy any car you want at the moment.

A car is a big expense so many are hesitating on that. However, if the car can be beneficial to the business then it is good to buy a car if you have a budget. My brother whose business was selling special steel bought a truck for delivery and a car for him and his business partner. They needed that for the image of the company.

 

[Jlife]

buying a car for the main purpose of boosting your business is the best and in this case it can help to make profit and can also help you to manage your business easier, buying a car from long-term investment and selling it is a total waste of time.

 

[Senator]

It is also a common knowledge that something that you own or have that does not generate income to you is classed as a liability. So is the car or house you own

 

[Setfragil]

If you are an entrepreneur, instead of buying a car for yourself, why not invest the money for business development, product research, or even improving staff.

There are some businesses that will not run perfectly well without having a car. If the car will add values to the running of the business, it not a bad idea to buy a car to help make more money for the business.