Quote:
Originally Posted by UltArc
A car is definitely an investment. Putting money into anything tangible is an investment.
|
No, it's only an investment if you can reasonably expect to sell it for more than you paid. That's just not true of cars, other than a few collector ones. Just for example, if I'd bought a $17K car 5 years ago, today I'd have a car that I might be able to sell for $8500. If instead I'd bought a $3K car (which in fact I did - well, a pickup) and
invested the $14K in my mutual fund accounts, I'd have about $32K and a vehicle I could sell for about $3K.