Buy a Second Hand Car

Do you know that, More than 65% of the Millionaires buy a Second hand cars? And 30% of the total millionaires drive a car that is more than 5 years old model? Only less than 5% Millionaires spend behind new cars.

I am talking about real millionaires whose on paper Net Worth (Assets – Liabilities) is more than $ 1 Million.

Unfortunately, most of the people in this world believe that, Millionaires drive expensive cars, wear expensive clothes and wear expensive watches. But this is not true. Millionaires are those who live well below their means, spend less, save & Invest more and accumulate substantial amount of wealth.

Wealth has to be accumulated. You can not become wealthy by spending more. But you can be wealthy only by spending less and accumulating more. Millionaires & Wealthy people buy a second hand car which is typically 3-4 years old.

Because a newly bought car will loose more than 60% of its value within the first 4 years from you buy it. So instead of buying a new car just to show high status, Millionaires buy 3-4 years old car so that somebody else has already taken the loss.

True Wealthy people never invest in depreciating Assets (Just Like Car). They always invest in appreciating assets such as stocks, bonds, gold, real estate, mutual funds, Businesses, Art & Paintings…etc…

True wealthy people don’t believe in showing high status. They believe in Financial Freedom. For them, Financial Freedom is more important than showing the high status. So Buy a Second Hand Car, Save Money and spend their money behind accumulating appreciating assets. You will definitely be rich over the time…!!!