Don’t listen to fin-fluencers: Here are 5 reasons why buying a car is important
Financial influencers, or ‘finfluencers’, often stress that cars are depreciating assets and encourage people to invest their money and grow it instead of buying a car. While there's some truth to this perspective, buying a car has many benefits that add weight to the decision of buying one. Here are a few reasons why owning a car can be a smart decision:
The safety and well-being of one's own self and their family should be of utmost priority. A personal vehicle allows you to have a bubble of safety from the outside world no matter where you go.
Regardless, of the time or weather you can be comfortable inside your vehicle instead of travelling in unreliable public transportation or cabs with suspicious safety standards. Most modern cars come equipped with advanced safety features such as airbags, anti-lock braking systems, electronic stability control and other safety features.
Having a personal vehicle adds a layer of comfort and convenience to a person's life. Having the freedom to travel whenever you want and wherever you want proves to be useful at multiple points of the year such as during festivities, weddings or even for road trips.
Another important point is not having wait around for public transport or cabs during situations such as heavy rain or even during peak work commute hours. This kind of independence means you can manage your schedule better, run errands efficiently and explore places that may be out of reach with public transport with ease.
And especially if you live in areas with limited public transportation options, a car can become a lifeline for daily commuting, weekend getaways or even spontaneous trips. Not to forget that in case of emergencies, having your own vehicle can make a difference in quickly reaching a hospital.
A car does not appreciate in value with time as may other assets but not all investments are purely financial. An individual does not buy a refrigerator or a microwave looking at what returns on investment it might bring to a common household.
The value of a vehicle lies in the comfort, safety and freedom it offers. Unlike stocks or real estate, buying a car provides physical benefits instead. Furthermore, some car models even hold great resale value making them not as expensive.
While using cabs or ride-sharing services might seem cheaper in the short term, the costs can add up quickly, especially for frequent travelers. Owning a car is initially expensive but it can prove to be more economical over time. Fuel-efficient vehicles, affordable maintenance plans and car insurance options make the overall cost per trip often ends up being lower than taking cabs regularly. Plus, you don’t have to worry about surge pricing during peak hours.
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Owning a car can be more than just a means of transportation; it can become a favourite pastime. A lot of car enthusiasts find joy in customizing, maintaining or even just learning about their vehicles. It can be a way to bond with the car community. This hobby aspect adds to the sense of pride and satisfaction of car ownership.
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