The usual craze this days is get a good ride before other things, but many hustlers refuse to be wise enough to know that you should secure an asset which is non depreciating.This is the real asset. Buying a piece of landing for example is an asset that gains value.

But a car is a depreciating asset, so I believe you don't really have an asset yet if what you have is a ride you only use for flexing and not for official use for your business. Your car loses value the moment you drive it off the lot and continues to lose value as time goes on.

So guys,entrepreneurs be wise under 30,look away from peer pressure,forget those mumu twitter girls saying BS ask yourself if you really need it right now,Deny yourself the immediate gratification and buy a property before that car, it pays in the future...

My opinion.

It may be an asset or a liability based on what you use it for. If it's being used for personal uses then it's a liability because it takes money out of your pocket/wallet any returns virtually nothing but if it's main purpose is for business e.g if you are using it for transportation business, goods delivery e.t.c then it becomes an asset.

Gbotun:
It may be an asset or a liability based on what you use it for. If it's being used for personal uses then it's a liability because it takes money out of your pocket/wallet any returns virtually nothing but if it's main purpose is for business e.g if you are using it for transportation business, goods delivery e.t.c then it becomes an asset.

Thank you o...but what do we see these days.
Show-offs everywhere,I have arrived etc.

Capital NO!

yusluvad:
Capital NO!

Wisest decision...

bestspoke:
The usual craze this days is get a good ride before other things, but many hustlers refuse to be wise enough to know that you should secure an asset which is non depreciating.This is the real asset. Buying a piece of landing for example is an asset that gains value.

But a car is a depreciating asset, so I believe you don't really have an asset yet if what you have is a ride you only use for flexing and not for official use for your business. Your car loses value the moment you drive it off the lot and continues to lose value as time goes on.

So guys,entrepreneurs be wise under 30,look away from peer pressure,forget those mumu twitter girls saying BS ask yourself if you really need it right now,Deny yourself the immediate gratification and buy a property before that car, it pays in the future...

My opinion.

I agree with this. I have chosen not to buy a car, but instead use the funds to acquire plots of land. In this recession, man must be wise.
All my businesses and places of living are within a LGA, so i don't see the need for a ride apart from flexing.

The day i buy a car, it must play a role in fetching me money as i ride it.

NO
It could either be a necessity or a liability depending on what the car is being used for

@OP you are very right, cars isn't an asset but a necessity if required.