tag:blogger.com,1999:blog-7969021817652163867.post4299775806837594762..comments2023-07-01T05:17:37.856-07:00Comments on Stacking Pennies . . .: New carsSJeanhttp://www.blogger.com/profile/12009307751501366318noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-7969021817652163867.post-57653102764723401422007-11-25T10:56:00.000-08:002007-11-25T10:56:00.000-08:00I think it is up to each person to decide how to c...I think it is up to each person to decide how to calculate net worth. I could not get by without a car, I couldn't sell the car and get cash out of it.<BR/><BR/>They would give me loans for furniture as well, but I don't count those as assets.<BR/><BR/>Yes, it is an asset, but when I calculate how I'm doing with my goals, I don't like to count purchases like that.Sashahttps://www.blogger.com/profile/04434047348572516843noreply@blogger.comtag:blogger.com,1999:blog-7969021817652163867.post-40796868943765813202007-11-25T08:56:00.000-08:002007-11-25T08:56:00.000-08:00A car is an asset; this is why banks will lend you...A car is an asset; this is why banks will lend you money to buy a car but not groceries. Thus, purchasing a car would not send your net worth to negative numbers--the debt would be offset (partially) by the value of the car. <BR/><BR/>Of course, a car is a depreciating asset, and the largest single depreciation occurs when you drive a brand new car off the lot. Buying a used car with 3 years left on the original warranty would not be a bad decision if you wanted/needed to buy a car. <BR/><BR/>Doesn't mean you should buy a car; just that you should think about net worth calculations correctly--liabilities (debt) offset by assets, real and financial.Anonymousnoreply@blogger.com