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> while a car is definitely not an investment It depends on the type of car, but certain, usually very expensive, cars still do gain in value over time. This i
by est31 5y ago
> while a car is definitely not an investment
It depends on the type of car, but certain, usually very expensive, cars still do gain in value over time. This is one of the ways the system starts working for you instead of against you once you are rich (if you are smart about it). When I found out about this, I started to see rich people having garages full of old timers in a different light: it's just a different way of investing money.
- xyzelement 5y agoSure. If you're buying "a thing" because you expect it to go up in value, you're indeed making an investment. Can be in cars, wine, whatever. Sure, your intention may not pan out, but you're in it for the money. On the other hand, most people who buy cars to use as transport for X years and expect to either drive them into the ground or sell back at a fraction of value, aren't investing.
- est31 5y agoIndeed (most of) the cars for the masses aren't investment objects. The technology gets obsolete, and nobody wants to buy them from you at higher prices.
- rdtwo 5y agoThe trick is to buy investment grade stuff. That’s probably not possible with say tvs but we’ll used cars (Taco, 4Runner, land cruiser, certain Jeep’s) can be a decent investment in that depreciation may only be equivalent to how much you use it offset by increase of value . Same is true for many tools or high quality used items. If you buy correctly you can see almost no deepreciation over your ownership. Even consoles can be an investment in this odd time, due to shortage I sold my Switch for 100 more than I bought it used. Video games can be flipped at almost no loss if done within the first 2 weeks etc.