Financial Advantages of Owning A Car.

[Etini]

Owning a car for some can be viewed as a luxury or a liability. That's quite well understood. On the other way round, a car instead of being a liability can be an asset that would help your financial life directly or indirectly. Here is example of situations a car can be useful to your financial life:

1) Family Outings and Family Commuting: If you don't have a family and you live by yourself, you won't feel the burden of cost of public transportation. When you have a family and you need to step out to church, school or any kind of family outing, you have to pay public transport fare for every member of your family to and fro, you would get to understand how much a car would have saved you.

2) Using Your Car to Run Commercial on Rainy Days: Those rainy days come when a person is completely broke and doesn't have any hope of getting money. He or she can just step out with his car, run commercial and come back in a few hours time having made money to save himself. All with his car.

A car can be an asset depending on how you use it, your motive and your view.

 

[Ramolak19]

Numerous financial benefits come with owning a car, including significant cost savings and ease of commuting when compared to using public transit. It allows for flexibility in terms of trip dates and locations, which reduces waiting times and boosts output. Furthermore, compared to automobile rentals or ride-sharing services, car ownership may have cheaper long-term costs. And, owning a car can improve access to a variety of services and employment prospects, which can improve one's quality of life and financial security.

 

[Axis]

Typically there are so many goodness and advantage in owning a car but two of the most important advantage is that it helps you to move from one place to another passively without having to waste time and energy especially if your destination is an urgent one. Another possible advantage of owning a car is that you can rent it out on higher purchase to individuals at a profit and it is obviously a good and stress-free way of making extra cash. Many individuals have made money by renting their cars and in fact that can even be there personal business to earn a living and to survive. In most areas of west Africa like Nigeria, ghana and Cameroon car rental has been a good form of business and has continued to be down to this day.