technuel:
You better save or borrow loan to buy Land who car help
Just imagine buying a Plot of Land in Ibeju-Lekki now at 540,000 and selling it for over 100 million in ten years time. If you think I am exagerating, make enquiry about the value of a plot of Land in Ikoyi

Bros, if OP needs a land he would have said so, we're talking about a car here. All man to himself.

If you're getting a loan to buy a car then it must be generating revenue every month....In general, loan should be used for investment.

midastouch040:
I would like opinions and experiences on this.
Did you save for your first car? Was it feasible. Did you spend the money before you could buy the car? If you succeeded, what did you gain?

Did you take a loan? Was it easy paying back? What did you gain?
Thanks.

Angelawhite:


You have a point- that’s comfort . But to be honest, a car is a liability. Anything that you spend on more than you gain from it is a liability.

Take for instance, I spend an average of N1000 daily on petrol driving to and fro to work with AC, 3,000 weekly on carwash. If I decide to use an UBER, I will likely spend N1,500 daily . An Uber man services his car, changes his oil, tires , filters fuel pumps, etc. I have to worry about those if I use my car. An Uber does not necessarily have to worry about them as he makes money driving his car. It’s a liability for me, but expenses for the Uber man.

Now if I decide to use Danfo, I will be spending an average of N500 daily. I’ll be saving N500 daily with no worries of servicing my car or taking it to the carwash.

What about cases where the car sustains a serious dent. My brother, just budget at least 100k for quality body and paint work.

Personally I spend an average of N75k every 3 months servicing my car (minus fuel and car wash )

Imagine I took a loan to buy this car . When will I finish repaying?

It is well with u.

mapist:


Point of correction; a car is not a liability. Get your facts right. Even accounting does not refer to a car as a liability.

An idiot like u should read properly before responding. I never said cars are liabilities. A car can be a liability or an asset depending on it's intended use

Olumyyde:

Bros, if OP needs a land he would have said so, we're talking about a car here. All man to himself.

I am just advising because I have seen lot of people who first bought car and today they are still regretting it.

technuel:


I am just advising because I have seen lot of people who first bought car and today they are still regretting it.

Wow! well, I think it still boils down to planning bro. Personally, I feel getting a car b4 a land requires a type of car that will not halt ur land purchase plans. All the same, I get ur point brother.