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Do I Buy A Car or Invest With The Money?

Hello All,

I am a student in one of the American cities. The bus system in my city is pretty poor and I usually spend an average of one-and-a-half hours on the rod for a distance of about 14 miles (the distance from Ojuelegba to Ikeja). I have to ago to my internship from school about 3 times a week and I have had to stay on the road for close to 3 hours (to and fro), catching and leaving buses, for almost 9 months. I have almost $4000 and towards the end of the year, I should have $10,000, if my plans come to fruition. When I came here initially, I believed a car was above me and that I really did not need it. But I guess since I have had to interact with people who have cars, and who by and large have the Nigerian big-boy-we-must-enjoy-life mentality, I started to consider getting a car few months back. So, in essence, my plans to get a car is as equally inspired by the need to get around more conveniently and the need to prove levels in school, which may not be a good reason I guess. The problem is I talked to one of my professors recently and he told me about how it is unwise to get a car as a student and how I should endure the terrible bus system and save and invest my money. Basically he was saying that the cost of maintenance of a car and the costs of things like insurance etc was not a wise burden for a student to take on. Since I may stop my internship before I can get a car and basically work on campus, I feel like when I get a car it will be under-utilized and will therefore be a bad decision. I believe I can cut on the costs of insurance by buying a cheap car, but then I also feel that will rob me of the prestige and satisfaction I should get from buying a car. Besides the cheaper/older the car, the more likely it is that I will need constant visits to the mechanic, something I cannot afford to do as a student, both in terms of money an d time. I will have to go to places form time to time if I get a car and stop my internship. But I am not just sure if the pleasure and comfort of buying a car outweighs the potential rewards of investing my money for the future. I need your well thought-out advices.

Thanks

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6 answers

Hey Guys, today i bought from shopcvv they scammed me, but not worries i got new good site i bought 50+ ccs all high balance and their fullz are amazing, site is bankebuy.com

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@masido

na by force to talk/type? abi dem swear give u chop? Oloshi.

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@poster, you know the right thing to do.

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U dont need anybody to tell you this.After buying a car with virtually all the money you have,you're gonna need money to maintain it.Use your head man and do something more rational with your money.

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Dear beejeai,

How are you doing? Guess cool. Well to respond to your question.

My own submission is that you don't need to buy a car now because by all standard a car in no by anyway an asset but rather a liability (it losses 30% of its value immediately after purchase) which is not worth it at this stage of your life (Remember you will need regular operation and maintenance fee, fuel and other services). Fine you might want to prove big boy, it is not only by having a car that you can prove that, moreover you will keep running after different things all in the name of big boy, and these friends of yours will only lead you to nowhere.

My father do say this "Save now so that you shall be Saved latter", "Work now so that you will not work latter", "Suffer now so that you will not suffer latter". These are words for the wise.

It is better you invest your money, it is an asset and when the time comes that you need the car you will have no option than to go get it (you won't even have to ask of people's opinion by then). When you invest it's a seed, the grains from it will also produce another one (in compound investment) and their own seed bears another seed. Meaning that you can even by a car from the gains of your investment while your money still remains intact.

Manage to live the life as it is now and you shall enjoy latter.

Hope this helps.

I care,

Lateef (Online Business Expert)

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A car is not an asset, neither is it an investment vehicle! Why do you want to eat your seed by turning it to bread?

Please look for a shrewd way to invest your money, all the best!

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