I GOT AN NEW CAR!! OMG! But wait… as an invester… is it smart to invest money into an car? Well in this video I am going to tell you if this was a smart move.
00:00 So what happend?
As a real estate investor, I always want to be smart with my money. Spend it on assets, things that bring in money. And not on liabilities that take money out of your pocket. And yet just the other week I bought myself a new car. I’ve shared this post on my social media. it’s a volvo xc90 with all the gimmicks there is air suspension, it’s a seven seater, there is an auto pilot function, that breaks by itself below 30 kilometer per hour, and accelerates the moment traffic moves on again as well and I could go on like this. Now, normally I would say something: what have you done? What a silly idea! This is such a dumb idea. This will ruin your portfolio!
01:38 Why a car as investment?
the other week, I proudly presented my car on social media. And many of have probably seen it.
For now, it’s not go into the liability vs assets, as I will go into that in a bit for now, You have to understand, as an investor everything I buy, is always being weighed. I always check if the deal I take.. is a good deal or not a good deal. To give you a little bit of a back story, we already owned two cars, before we got the volvo. One is my own, which is a Mercedes E-class, and my wife had a citroen c4, which was our family car, it had seven seats, it was practical and it had all the functions we needed as a family. Now, I don’t know about you but as a boy, I’ve always had a dream car which is Ferrari but then again, I’m not in that range of wealth yet, to be able to own such a car and drive it for fun.
04:14 How the deal came to be
So the choice was an audi Q7 or a Volvo xc90. And life is always like this whenever you believe in something, it will come across on your path, the only thing for you as an investor.. is to take the leap of faith, and that’s what I did. I did a lot of research on both these cars… kept an eye on the market, just because.. dude.. I like cars, so each day, I would just log on, and check car websites. And I’ve been doing this for quite a few months nothing special, I didn’t have the urge to buy, just whenever I would come across a good deal, I would just send out a message nothing otherwise. but then came this Volvo…
07:30 The moment of truth
Now I don’t know if you’ve done auctions before, but as for auctions the best time to be active is not all the days before the auction is open, but in the last hour before the closing of the auction.
That’s the best moment to be active, and so was i. In auctions, whenever someone offers a new price in the last 5 minutes, the auction will be extended with another 5 minutes. I noticed there was one other person joining this auction. it was down to me, and the other person. it was so throat cutting exciting, I had 2 thousand euros of bidding space left before I would come to my final price. Then came the last bid. I placed my bet. And I actually won the car!
10:37 Why it is sometimes necessary to buy liabilities to be able to increase your portfolio
I would like to share with you why getting a car like this, doesn’t have to be a bad investment at all.
I’ve spend several tens of thousands of euros in this case to buy the car then again, it is also about realizing dream because in the end if you know why you are working so hard for you also know that realizing dreams in your journey is also part of it. So if it a bad investing? See this last part to find out.