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Is a Car an Asset? Or Is a Car a Liability? Learn to Invest Wisely!

Many people ask, is a car an asset or a liability? Some argue that a car is a liability because of the expenses that come with it. Despite that fact, a car is still identified as an asset since you can sell it for a sum of money. However, a car's value decreases with regular use, making it a depreciating asset. In this video, you'll learn what a depreciating asset is and why your car is considered one. ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ “Cars are considered depreciating assets as their value gradually decreases over time due to various factors. One of the primary factors is the mileage on the car's odometer, where higher mileage indicates prolonged usage, resulting in a decline in value. Additionally, damages or wear and tear to the vehicle can further diminish its market worth. Furthermore, the introduction of newer models into the market over time contributes to the depreciation of older versions.” ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ 00:00 - Intro 1:12 - What is a Depreciating Asset 1:33 - Why is a car a Depreciating Asset 2:25 - How to know a car's market value 3:14 - Is buying a car a good investment? 4:22 - Outro Please don't forget to SUBSCRIBE to our channel and press (🔔) to stay updated with new uploads. ✨ To keep thing channel going, please: ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ 👍 Like the video 🔗 Share the video 💬 And leave a comment ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ 📧For Business Inquiries: [email protected] 📱Stay Tuned On Money Opulence Social Media : » Website - https://moneyopulence.com/ » Facebook -   / 100086153314727   🎬SUGGESTED VIDEOS Don't forget to watch 📽 Money Opulence's​ other videos. Please check them out:    / moneyopulence   Thank you very much. We hope to see you in our next video and help you improve your finances. Cheers! You must not rely on the information on Money Opulence channel as an alternative to advice from a certified public accountant or licensed financial planner. There is no accountant-client relationship created from the publication of financial information on this website. Thus, there is no contract of any form that binds this channel and its users.