Post your complete net worth!

[mr2mike]

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Whatever the number is, I'm sure it would be higher if I could convince myself to stop spending money on depreciating assets like cars I don't need. Why can't I be happy with a plain, practical low cost vehicle?

Or the vehicles you are purchasing are not expensive enough. The highest value ones appreciate over time.

[suntan]

3

[2Legit2Quit]

Is this where I post my SIN and credit card numbers?

[redblack]

...

[Buster]

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Whatever the number is, I'm sure it would be higher if I could convince myself to stop spending money on depreciating assets like cars I don't need. Why can't I be happy with a plain, practical low cost vehicle?

This.

Although I've noticed my tastes in vehicles shifting somewhat regardless of financial stuff. I hate to say it (it sounds awful), but I'm just not as interested in cars as I used to be. Although this tends to come and go, so I may be back on the crack again soon. I've started to value simplifying my life more than I used to.

[Disoblige]

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pic

Mission accomplished.

[vengie]

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I'll sell you a Honda fit.

- - - Updated - - -

Details? I might be interested...

[Disoblige]

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Details? I might be interested...

What about mine? Lol :-p

[killramos]

Do cars count as assets?

[rx7boi]

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Do cars count as assets?

Not unless you paid for it in cash but then it just becomes a depreciating asset for salt in the wound

[max_boost]

Cars are a big one lol

I was bored and added up what I can remember I spent on cars without mods, insurance or maintenance and it scared me lol I dunno what number is higher, money spent on cars or women. Does it count if I spent a million vs having it in the bank

[Masked Bandit]

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Not unless you paid for it in cash but then it just becomes a depreciating asset for salt in the wound

I would consider the continual depreciation to be a liability. For all intents & purposes even a car bought cash is still a liability. Even a car parked on your front lawn not moving is still an expense (liability) because of the depreciation, whether realized yet or not...it's still happening.

God Damnit, why can't I quit vehicles?

[Twin_Cam_Turbo]

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Do cars count as assets?

That’s a liability...

[killramos]

Damn, guess I have a lot of Liabilities lmao

[A790]

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This.

Although I've noticed my tastes in vehicles shifting somewhat regardless of financial stuff. I hate to say it (it sounds awful), but I'm just not as interested in cars as I used to be. Although this tends to come and go, so I may be back on the crack again soon. I've started to value simplifying my life more than I used to.

I know the feel. Cars just don't do it for me anymore. I drive a '17 Fusion Titanium, which is about as fun to drive as a UHAUL, and it's fine. Whatever.

[Buster]

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That’s a liability...

Cars are assets. A loan against them is a liability, and the depreciation is an expense.

[Masked Bandit]

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Cars are assets. A loan against them is a liability, and the depreciation is an expense.

I realize we're splitting hairs here but since the depreciation is a continuous unstoppable expense, isn't that a liability? That expense is occurring regardless of what you do. True the expense isn't realized until you liquidate (sell) but the fact that you own that vehicle forces the expense?

[Buster]

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I realize we're splitting hairs here but since the depreciation is a continuous unstoppable expense, isn't that a liability? That expense is occurring regardless of what you do. True the expense isn't realized until you liquidate (sell) but the fact that you own that vehicle forces the expense?

You're accurate in your description of what is occurring, I just wouldn't (for the sake of clarity) describe that as a "liability". One distinction is that you don't "owe" that depreciation to anyone else.

[Manhattan]

If you count a car as a liability you might as well call a house one too given the cost to upkeep and property taxes...

Sounds like beyond needs an intervention.

[A790]

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If you count a car as a liability you might as well call a house one too given the cost to upkeep and property taxes...

Sounds like beyond needs an intervention.

I'd argue that the house you live in is not an investment. I view mine is a liability.