Cars are not investments, mutual funds are.
Do not put money into a depreciating asset, do put money into an appreciating asset.
Cars are different things to different people.
From basic transportation to status symbol and everything in between.
I will say they are a good way to get into financial trouble; can be bad or good.
I bought a new fully loaded black 6 speed Corvette in 1990 that I could not afford.
Of course I convinced myself otherwise...
Every "extra" penny I had went into that beautiful car.
When I sold it to a Corvette house a year later, I had to pay a bunch to get out from under the loan.
Perhaps the best lesson I ever learned.
Do not put money into a depreciating asset, do put money into an appreciating asset.
Cars are different things to different people.
From basic transportation to status symbol and everything in between.
I will say they are a good way to get into financial trouble; can be bad or good.
I bought a new fully loaded black 6 speed Corvette in 1990 that I could not afford.
Of course I convinced myself otherwise...
Every "extra" penny I had went into that beautiful car.
When I sold it to a Corvette house a year later, I had to pay a bunch to get out from under the loan.
Perhaps the best lesson I ever learned.
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