You Don't Need a Car
We all have a dream to have a Big House or a Big Car someday, even if someone starts working they try to get these two things as soon as possible even in EMI. House can be an asset if you are not staying and giving for rent, but Car is always a liability.
The problem is people think that Car is an investment because they will save a lot in Commute, but that is absolutely wrong. Also, people think that Car will give them freedom, but that's not always true. Those guys who don't have a Car can also travel and they have as much freedom sam as that you have.
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Why Car is not an investment is because A Car is an asset which will be depreciated over time and you will neither get the amount you have invested nor it will give you return in the future. Along with that, there is a lot of costs related to owing that car, the initial investment for registrations, on-road tax, fuel and repair to name a few. These costs add up and make it a very bad investment. But again if you are travelling like 100 km every day then it might be a better investment if you don't have any other means of transport.
Now you may argue that you need a car because your town is around 25 miles away from the nearest city and there you don't get leased car or public transport. That's absolutely true, you need a car at that time because thinking about a scenario that you have to get something really quick you cannot wait for a car to arrive or get help from someone or if there is an emergency. I am not against owning a car, I am against going over and above your budget to get a luxury rather than a car.
The thing about a city where there is excellent public transport infrastructure and everything you need is available, do you still need a car. Yes, you need it if driving is your hobby but not if you personally use like going office to and fro.
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I don't have a car and I don't want it also in the near future. In the Bangalore city, public transport is good, Metro work is going on and it also has excellent ridesharing services like Ola and Uber. Even if I use Ola and Uber daily for my commute, that will never cost me more than owning my own car. I have a bike for moving around and that is more than enough for me.
Do you own a car, if yes, why? if not, why not?
