@ Ndipe,

You are right man, what's the purpose of stacking money up for the next generation to spend? Obviously scounderels are people who live on other people's sweat so why not enjoy your cash while you are alive. We all gotta die and the money doesn't die with us, we all know that, so if you've ammassed some wealth and you can't spend, some baboon somewhere will help you out.

If you can't buy a Kia Rio, some baboon of a child or relative will help you buy a Maybach with it when you are gone.

Chikena.

I agree that a car is not an investment, but looking at the Nigeria situation, a marketer, a banker, an insurance staff, need nice cars to enhance their success in biz activities

@ mukelosho

U're right!

If you talk of those compact cars yes, it also depends on how you purchase it and what you use it for. For our business of course your car is an investment. Point of correction, a car only depreciates by 5% and not 50% when you drive a new car out of the lot. There are some cars that are investments. Dusenburg for instance is an investment no one sells them. They were handcrafted and costs over $250, 000 each.

If you lease a car for business, it's considered investments, a vehicle purchased in business name and for that trade purpose is an investments and you can write off the milage or depcreciation on your taxes (talk to a tax expert).  Items like jewelries made of diamond could be an investment that's why most rolex watches are good they keep and appreciate in value, and you can always add more diamond to it anytime you have money only you have to do it through their dealer/rep. I don't know about glasses or cloth and other little stuffs.

A Car is NOT an investment.
====================

2 weeks ago, a colleague of mine bought the latest Toyota Auris (lovely car), but the car was Auto and he didn't like the way it changed gears.
He went back to the dealers after 2 days, and they refused to take the car from him.
After so much hassle and stress, the took back the car, but he lost £1,300 pounds in just 2 days, (chei, if I see that kain moeny play with, na Wealth Solution and Penny Wise I go dump the money )

So bottomline, the moment you drive the car out of the showroom, it immediately starts losing value.

Contrary to what someone said on this thread and I quote:
"WHEREAS ABROAD A HOUSE BECOMES A LIABILITY COS OF THE FEES PAID ON IT IN NAIJA ERE,IT A BIG INVESTMENT AS RATES TO BE PAID ON IT IS INCONSEQUENTIAL."

Na lie O!!! Property na big investment anywhere in the world. In the U.K, it's a good investment o jare.

Have a good weekend Everyone

@ Skybaba, i totally agree, as nice as a car may look, its not the better option, my cousin bought a house some 3 years back and sue to the increasing property market it has almost doubled in 3 years, is he holds on long enough he could actually sell teh house n get enough money to put a huge down payment on the house n even have enough change to pay for a very decent car.
If he had done thing sthe other rounds, it would not have been possible.

@skybaba

I think your friend doesn't know what to do, he/should have contacted a consumer attorney and get properly informed. There are many options the person has especially with a new car. Collateral swap might have easily been one of them. In compensation for most of our people's know it all atittudes, some always end up losing money. How much would it have cost that guy if he had paid a buyer's rep or to go to the dealership with him?, or better put seek advice from a consumer attorney for less than 500 pound sterlings?. Now compare that to 1300 pd sterlings he lost.

egunmogaji, gazzuzz, obekediamondfuto, kingreign what's your view?

wiseguy:
My car is not an investment? Na wao! Says who?

My car is a very big investment. on my health, on my comfort and generally on my life.

Saves me atleast from being thrown away or run over by Okada drivers.

Abeg o me i disagree with this one. Even if na only the cool air and the pleasure of taking my wife around most evenings. And if i have the money, i will buy a better one. Everytime is not for investment. when you invest, you also enjoy the fruit of the investment. I won't spend my whole life investing and re-investing.

my car is an investment o. Chikena!

Na wa o. 2007 thread gracing front page in 2018. Seun good morning.

weyreypey:
egunmogaji, gazzuzz, obekediamondfuto, kingreign what's your view?

I leave this debate for the Indians (nurey) and the Mexicans (calculus) to handle. we Nigerians refuse to believe our rides are not investments..... for so many reasons but I leave the Arabs and Arabians(banky3w) to entertain the house with their opinions.

Lmao @nurey the Indian lolol

weyreypey:
egunmogaji, gazzuzz, obekediamondfuto, kingreign what's your view?

a car can be an investment depends on the instaance you are using it.

if I buy suzuki every and give diportivo to drive and deliver at the end of a year the financial return from diportivo would have appreciated.

if I buy a GTR NISMO 50th edition, in 10years time it would be worth twice it's price if still in pristine condition.

now a personal car is a liability not investment because it would start depreciation processs the moment it leaves the factory gate

nurey:


a car can be an investment depends on the instaance you are using it.

if I buy suzuki every and give diportivo to drive and deliver at the end of a year the financial return from diportivo would have appreciated.

if I buy a GTR NISMO 50th edition, in 10years time it would be worth twice it's price if still in pristine condition.

now a personal car is a liability not investment because it would start depreciation processs the moment it leaves the factory gate

bros

pls make it the three cylinder manual trans version

u will get ur money as at when due without delay

nurey:


a car can be an investment depends on the instaance you are using it.

if I buy suzuki every and give diportivo to drive and deliver at the end of a year the financial return from diportivo would have appreciated.

if I buy a GTR NISMO 50th edition, in 10years time it would be worth twice it's price if still in pristine condition.

now a personal car is a liability not investment because it would start depreciation processs the moment it leaves the factory gate

YOU ARE LOOKING AT THE QUANTITATIVE BENEFITS... LET US EXAMINE THE UTILITY SIDE OF IT... SAFETY, SECURITY AND TIME SAVING... BROS IN NIGERIA A PERSONAL CAR CAN BE AN INVESTMENT DEPENDING ON ITS USES.... SO YOU WANNA LEAVE YOUR KIDS AT THE MERCY OF ONE LUNATIC BOLEKAJA DRIVER SHUOOO NAWA 4 U O

weyreypey:


YOU ARE LOOKING AT THE QUANTITATIVE BENEFITS... LET US EXAMINE THE UTILITY SIDE OF IT... SAFETY, SECURITY AND TIME SAVING... BROS IN NIGERIA A PERSONAL CAR CAN BE AN INVESTMENT DEPENDING ON ITS USES.... SO YOU WANNA LEAVE YOUR KIDS AT THE MERCY OF ONE LUNATIC BOLEKAJA DRIVER SHUOOO NAWA 4 U O

maishonu there so those of us born with pako spoon and have Ph.d in bolekaja and MSC in molue have died?

We can look at things in a different way in economics car isn't an investment as it depreciates fast

in finance and accounting, car is an investment because it can yield returns when used for moving goods and services

In physics car isn't an investment because it has parts prone to wear and tear and it's a machine, it isn't 100% efficient. It is also dependent on external forces for function... yada yada bla bla bla

Now to common sense a car is only an investment if it is used to m tangible returns (financial, money), all those other thing is luxury and opportunity if you don't want to enter bolekaja take uber/taxify or buy bicycle for your children let them ride to school

I STILL THINK YOU NEED A VISIT OR TOUR OF THE NATIONAL ORTHOPAEDIC CENTRE GBOBI AND EXAMINE THE NUMBER OF LIVES LOST DUE TO PREVENTABLE AND AVOIDABLE CAUSES.... WELL I KNOW YOU TRAVEL A LOT...

nurey:


maishonu there so those of us born with pako spoon and have Ph.d in bolekaja and MSC in molue have died?

We can look at things in a different way in economics car isn't an investment as it depreciates fast

in finance and accounting, car is an investment because it can yield returns when used for moving goods and services

In physics car isn't an investment because it has parts prone to wear and tear and it's a machine, it isn't 100% efficient. It is also dependent on external forces for function... yada yada bla bla bla

Now to common sense a car is only an investment if it is used to m tangible returns (financial, money), all those other thing is luxury and opportunity if you don't want to enter bolekaja take uber/taxify or buy bicycle for your children let them ride to school

There was a guy who bought an S Class Mercedes Benz because when he turned up for that business appointments and you were escorting him back to his car, you knew he was high maintenance and had already arrived, the psychological effect was clients had a hard time asking him to beat down his prices, in that scenario a car is certainly an investment.

In a scenario in which the car owner buys the car to flaunt status without more, it cannot be an investment.

I know of a guy who went to negotiate a real estate deal...after sucessfully persuading the money bag to invest...then came the time to go the rich decided to see these guys off and voila... they all squeezed into an Orobo camry ....that was the end of the deal....end dead end!!

AutoElectNG:
There was a guy who bought an S Class Mercedes Benz because when he turned up for that business appointments and you were escorting him back to his car, you knew he was high maintenance and had already arrived, the psychological effect was clients had a hard time asking him to beat down his prices, in that scenario a car is certainly an investment.

In a scenario in which the car owner buys the car to flaunt status without more, it cannot be an investment.

What about when you buy a car to keep you alive and sane?

weyreypey:
I know of a guy who went to negotiate a real estate deal...after sucessfully persuading the money bag to invest...then came the time to go the rich decided to see these guys off and voila... they all squeezed into an Orobo camry ....that was the end of the deal....end dead end!!




What about when you buy a car to keep you alive and sane?

Totally agree with that too

You guys are conflating asset and investment. A car is an asset... A depreciating one most of the time. This is why you can use it to generate income and increase status in Nigeria.

A car is never an investment for the simple fact that unless it's a very rare classic, it is not going to appreciate in value.

E patewo fun mi o! My papa go dey happy say all that money for school allow me to answer Nairaland question.

radautoworks:
You guys are conflating asset and investment. A car is an asset... A depreciating one most of the time. This is why you can use it to generate income and increase status in Nigeria.

A car is never an investment for the simple fact that unless it's a very rare classic, it is not going to appreciate in value.

E patewo fun mi o! My papa go dey happy say all that money for school allow me to answer Nairaland question.

Wrong wrong stop this type of analogy or else I'd send your family masquerade after you... All assets are investments...

weyreypey:

Wrong wrong stop this type of analogy or else I'd send your family masquerade after you... All assets are investments...

Incorrect

radautoworks:


Incorrect

Why did you bother INVESTING in the ASSET?
Sense wee not kee me

weyreypey:

Why did you bother INVESTING in the ASSET?
Sense wee not kee me

Assets are not necessarily investments. They are simply necessary in the course of life and/or business. Notice nowhere in your own definition does it say anything about investments

There's a reason I'm on this wall permanently

radautoworks:


Assets are not necessarily investments. They are simply necessary in the course of life and/or business. Notice nowhere in your own definition does it say anything about investments

There's a reason I'm on this wall permanently

Assets are investments! However not all investments are made with the purpose of generating profits. CHARTERED INSTITUTE OF STOCKBROKERS NIGERIA CLASS OF 2007!!

weyreypey:

Assets are investments! However not all investments are made with the purpose of generating profits. CHARTERED INSTITUTE OF STOCKBROKERS NIGERIA CLASS OF 2007!!

Weyrey, sweetheart, https://thefinancebuff.com/asset-vs-investment.html

Finally. Wereypey is different from werey...
Finally.. I have always been skeptical about the American educational standards.



Investments are required to yield benefits which can also be qualitative

I expect an express and bountiful apology for misleading the readers.

MY CARS ARE ASSETS!! QED.

Aww.. I was giving you a nickname! I thought it was cute. Okay we'll stick with wereypey. Let me put it to you this way. You have it bass ackwards.

An investment is an asset but an asset is not necessarily an investment. Your last post didn't address anything!

radautoworks:
Aww.. I was giving you a nickname! I thought it was cute. Okay we'll stick with wereypey. Let me put it to you this way. You have it bass ackwards.

An investment is an asset but an asset is not necessarily an investment. Your last post didn't address anything!

You have to take a position. My last post finished the discussion.

Advice... Put off the capitalism lenses.

weyreypey:

Wrong wrong stop this type of analogy or else I'd send your family masquerade after you... All assets are investments...

wrong, all investments are assets but not all assets are investments.

fuckboys:
wrong, all investments are assets but not all assets are investments.

Your definition of investment is narrowed down to profiteering.

fuckboys:
wrong, all investments are assets but not all assets are investments.

THANK YOU.